One person Company registration

What is OPC Registration ?

An OPC is the most modern form of business in India proposed by the Companies Act, 2013 and understand for a-One Person Company.

A forward-thinking idea was launched which promotes the incorporation of micro-businesses and persons with entrepreneurial ideas and to give a boost to entrepreneurs who have high potential to begin their venture by permitting them to build a single person company.

You can easily register one person company under the outlines of the companies Act 2013 and the laws thereto, where it was made viable for a single person company to work as a company without the complexity of having partners. This encourages more people to come forward to commence a business. The OPC is fit for small businesses where the turnover is not likely to cross Rs. 2 Crores. IN OPC Registration it’s important to note that the nominee or the director should be Indian Resident.

One Person Companies are benefiting largely in developing the overall economy of India. More and more Entrepreneurs are coming up and commencing their business. By incorporation of OPC, the company can enjoy the benefits in banking point and are eligible for Banking loans, credits. So, if you want to start up your own business, you don’t have to worry about all the network and slow processes.

Why to Choose OPC?

The following is the eligibility guidelines for OPC Registration in India.

Can have more than 1 directors, but the shareholder cannot be more than 1.
Not affected by the death of a member or shift in ownership.
Effortless to set up and maintain comparatively.
Restricts the liabilities of its members
Minimum Paperwork is needed.
Can work as Stockbroker or Sub-broker
Not multiple compliances
No interference from any third party is seen
Even no person is permitted to incorporate more than 1 one-person company.
Limited Liability
Separate Legal Entity
Uninterrupted existence
Easy to raise fund and loans
Full Control over the Company with a single owner

Eligibility Criteria for OPC Registration

Only a person who is a citizen of India and resident in India. Resident in India refers to a person who had lived in India for a time not less than 182 days in the preceding one year
Legal entities like company or LLP cannot join an OPC.
A nominee must be selected by the promoter while the incorporation.
The least authorised capital must be Rs 1 Lakh.
An OPC is restrained from operating a minor as its member.
If an OPC crosses a turnover of over Rs 2 crores or has a paid-up capital more than Rs 50 lakhs. It must be converted into a private or public within 6 months.
Least 1 Shareholder/Nominee/Directors.