OPC is One Person Company which was introduced in the year 2013 through Companies Act 2013. Notwithstanding, its turnover can’t surpass ₹2 crore in the first three years and it can’t have settled up capital more than ₹50 lakh.” To begin filling in as a consultant or a sole owner, you don’t should be officially enrolled with any power. With regards to beginning an OPC, you have to register with the Registrar of Companies.
Another purpose of contrast is that as far as legitimate and duty matters, sole ownership sees no difference amongst the business substance and its proprietor. OPC is a legitimate element separate from its part, offering restricted obligation insurance to its sole part. This implies, regardless of whether your business brings about a misfortune, your risk as the proprietor of the OPC is constrained.
Another favorable position of an OPC registration is the simplicity of getting advances and unendingness. They likewise give straightforwardness and unmistakable personality to the business, which is helpful from the point of view of gathering pledges and business improvement. OPCs are allowed to change over into a private restricted whenever required later on, in this way giving progression to the business,”. Keep in mind: As a specialist, getting business credits isn’t as simple attributable to severe bank measures.
Choices you can profit incorporate taking an individual advance, taking advance against gold or protections or getting a charge card. An OPC registration, then again, has a superior possibility of getting a business advance dependent on its incomes and bolstered by guarantee security.
Documents required for OPC registration
You should have DSC, Address proof, Phone number and email id, DIN and also apply for the name approval. So as to register your organization, you need the accompanying reports to be all together:
Memorandum of Association (MOA), Articles of Association (AOA) are important. In an OPC, there is commonly 1 individual and 1 director, so you should select a candidate in the event that something heartbreaking occurs. The chosen one must offer their assent in structure INC-3 and present his/her PAN and Aadhar card.Confirmation of proprietorship, verification of enlisted office, and a NoC from the proprietor.Assent and a sworn statement of Form INC-9 and DIR-2 from the proposed Director.A presentation that guarantees that all the compliances have been made.Fill the forms on MCA.
The necessary reports referenced above must be appended to the SPICe Form, SPICe-MOA and SPICe-AOA on the MCA site. When that is done, the application procedure will be finished. The Registrar of Companies will at that point confirm all the reports and structures and afterward affirm them. These means will assist you with enlisting your organization as an OPC.
The online OPC registration process
The OPC online registration process can be divided into 4 steps. They are by obtaining the digital signature, name approval, Incorporation filing, Commencement of the business.
- DSC Application and DIN processing : In 1-2 working days, DSC and DIN of Directors is registered by endless supply of some checked records from customer.
- Organization Name Approval and Incorporation : After effectively getting DSC of chief, In 7-10 days organization name Approval and OPC enlistment is finished.
- PAN and TAN of Company : PAN and TAN of your OPC is likewise applied while consolidation and the PAN and TAN Card will be couriered to the your OPC registered office address in a time of 15-20 working days. The online OPC registration process thus doen as above.
Features of the One Person Company Registration
Privately owned business:
Section 3(1)(c) of the Companies Act says that a solitary individual can shape an organization for any legitimate reason. It further portrays OPCs as privately owned businesses.
Single-part: OPCs can have just a single part or investor, in contrast to other privately owned businesses.
Single member: A one of a kind element of OPCs that isolates it from different sorts of organizations is that the sole individual from the organization needs to make reference to a chosen one while enlisting the organization.
No repetual succession: Since there is just a single part in an OPC, his passing will bring about the candidate picking or dismissing to turn into its sole part. This doesn’t occur in different organizations as they follow the idea of unending progression.
Least one Director: OPCs need to have least one individual (the part) as chief. They can have a limit of 15 chiefs.
No minimum share capital: Companies Act, 2013 has not recommended any sum as least settled up capital for OPCs.
Exceptional benefits: OPCs appreciate a few benefits and exclusions under the Companies Act that different sorts of organizations don’t have.
Overview
The One Person Company is best suitable for the individual promoter.The liability is limited. The borrowing is possiblie in OPC. There are moderate benefits in tax advantage and the comliances are high. Driving bourse National Stock Exchange (NSE) on Friday said that “one-individual organization” can go about as a stock merchant gave the substance has in any event two chiefs. In any case, such a representative would not be permitted to exchange their exclusive record. The recent news about the OPC in India is “One individual organization (OPC) is qualified to be registered as a stock representative, if it fulfills the state of least two chiefs, as specified under. Protections Contract (Regulation) Rules, 1957,” NSE said in a roundabout. Further, OPCs can register as sub-expedites as well. Toward the finish of January, an aggregate of 5,402 OPCs were enlisted in the nation.
The One Person Company (OPC) constitution is a solid improvement over the sole ownership. It gives a solitary advertiser full power over the organization while restricting his or her risk to commitments to the business. Like a Company, an OPC is a different lawful substance from its individuals, offers restricted obligation assurance to its investors, has coherence of business and is anything but difficult to consolidate. One Person Company is like One man show and it is really a trustworthy when it is registered.