Description
OPC Company Registration
The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. One of the biggest advantages of a One Person Company (OPC) is that there can be only one member in a OPC, while a minimum of two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP). Similar to a Company, a One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate.
One Person Companies are helping tremendously in increasing the overall economy of India. More and more Entrepreneurs are coming up and setting up their business. Since, no intervention from any third party is seen, it makes it more beneficial.
Advantages Of OPC Private Limited Company?
There are multiple reasons to choose opc private limited company :
- Only one member is required
- Unaffected by death of member or change in ownership
- Limits the liabilities of its members
- Can act as Stockbroker or Sub-broker
- Minimal Paperwork is required
- Not many compliances
- Easy to set up and maintain comparatively
Minimum Requirements For Company Registration
- 1 Shareholders
- 1 Directors are required
- 1 Nominee
- Minimum 1 Lac Share Capital
- DIN of the Director
- Director and Shareholder is one and the same person
Steps involved in OPC Private Limited Company Incorporation in India
Stage 1: DSC (Digital Signature) of director
Stage 2: DIN (Directors Identification Number) of director
Stage 3: OPC Name Approval from ROC
Stage 4: Certificate of Incorporation is generated by Submitting Final Documentation (like AOA, MOA, Subscription Pages, Consent Letters, Business Address Proofs, etc.)
Stage 5: Application for PAN & TAN
Timeline for OPC Registration in India
It takes 15 to 20 working days (approx.) to complete OPC Private Limited Company Registration procedure. Timeline may vary depending on replies from ROC department.
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