Why Choose OPC?
The concept of One Person Company (OPC) was introduced with the Companies Act, 2013. It is the perfect replacement for the sole proprietorship model, offering limited liability and eligibility for Startup India Recognition.
Why is One Person Company a Better Choice?
When you do not have any partners, A SINGLE person can form a Private Limited Company with One Nominee. OPC is fit for small businesses running independently. It offers:
- Limited Liability: Personal assets are protected from debts and liabilities.
- Legal Entity: OPC is a separate corporate body from its owner.
- Startup Recognition: Eligible to apply for Startup India Recognition and Tax Exemptions.
- Credibility: Better bank credit facilities compared to informal sole proprietorship.
Pre-requisites for OPC Incorporation
- Proposed Name: Must be unique and not identical to existing companies.
- Director: 1 Director (Indian Resident) and 1 Nominee.
- Digital Signature: Required for the Director.
- Capital: Decide Authorized and Paid-up Share Capital.
Registration Procedure
Our online process is easy and hassle-free:
Step 1: Documentation
We collect documents and send papers for your signature via email. We finalize 2 proposed names for the company.
Step 2: Digital Signature (DSC)
We apply for the Digital Signatures of the director/shareholder (Day 1).
Step 3: Incorporation Filing
We file the Incorporation form with ROC. All forms are certified by a CA/CS/CMA (Day 2).
Step 4: Approval
ROC typically approves the application in 1-2 days. You receive the Certificate, PAN, and TAN.
Post-Incorporation Compliances
An OPC is also a Private Limited company. Apart from GST and Income Tax, it must comply with:
- File Commencement of Business (Form INC 20A) within 180 days.
- Appointment of Statutory Auditor.
- Filing of ROC Annual Forms and Director KYC.