OPC Registration In Bangalore
One Person Company is a type of business entity with only one owner and has limited liability and can act as both shareholder and director. OPC registration in Bangalore is done through Companies Act 2013. Our trustable firm has now extended its wings in various places of Bangalore like Sarjapur, Yelahanka, Electronic city, White fields and Domlur. The OPC encourages many of the entrepreneurs who are yet to begin a company and it is a separate legal entity. Like other form of business structures, the OPC can obtain the funds from venture capital, financial institutions and other banks. Since the OPC has limited liability, the individual can take risk to any extent without suffering the loss from the personal assets. This aspect encourages any new- young entrepreneur to venture into the business.
OPC registration in Bangalore is essential since it acts as a separate corporate body. When compared to other forms of the business structures, there are only minimal compliances required. The OPC can enjoy various benefits similar to small scale industries like lower rate of interest on the loans and manifold benefits under the foreign trade policy.The owner of the OPC is like one man army where the owner can take his or her own decision, controlling and managing the business. In OPC if the proprietor has bad credit ranking, it will not be a material as per norms that increases the trust and prestige. One exception in One Person Company is that while registering the OPC, it is expected to declare a nominee. The OPC registration in Bangalore requires only the natural person who is a citizen of India. Also the law excludes the minors from being the member or the nominee. In OPC there is perpetual succession. It can be converted into other forms of the companies as well.
Documents required For OPC Registration
- Identity proofs of the directors like PAN and Aadhar card
- Address proof like mobile bill, electricity bill
- 3 Passport sizes photographs
- Form DIR 2 duly signed by the Director
- Details & Declaration of DIN
- Application of DSC duly signed by the shareholder
- INC-9 duly signed by the shareholder
- Form INC-3 duly signed by the nominee shareholder
- Address proof of the registered office
Advantages of OPC registration
- It is a separate legal entity
- Lesser compliance burden
- It encourages the entrepreneurship
- If any of the members gets decreased it will not affect the life of the company
- Funding is easy.