We believe that you've decided to start your journey into business arena. Let’s take you to one step closure to know One Person Company incorporation process and its implication on business structure. You don't have excess paperwork to start an OPC (One Person Company). But there are some important things you need to know before starting your journey in the entrepreneur’s world.
If you want to have full control over your business with limited liabilities, then OPC is the best choice to start with. But ensure that you convert your business structure (within six months) to the private limited company after crossing an average turnover of 2 crores over three consecutive years or has a paid-up capital of over 5o lakhs.
Similar to a company, OPC is also a separate legal entity from its promoter, offering limited liability protection to its sole shareholder.
Sole Director has all the control over business decisions
OPC being a separate legal entity, is unaffected by the death or departure of any member and continue to be in existence regardless of the change in ownership.
Ownership of a business can be easily transferred to a company by transferring shares.
OPC must nominate a nominee director in the MoA and AoA of the company, the nominee director will become the owner of the OPC in case the sole Director gets disabled.
OPC may have difficulties while applying for other Registration or Licenses
NRI’s or Foreign nationals cannot own a One Person Company
In case your OPC exceeds annual sales turnover by Rs.2.00 crores or the paid-up capital exceeds Rs.50 lakhs, then it's mandatory to convert your OPC into a Private Limited Company. A private limited company has less limitations and less liabilities as compared to OPC.
Three Easy Steps for OPC Registration
Fill-up our requirement form
We'll collect all your documents and file them directly with the authority
You'll receive your completed One-Person Company registration package by E-mail
If above benefits & Liabilities satisfy your business requirement, then OPC might best suit your business needs. Now in order to run One Person Company, a little more preparation will definitely go a long way.
Our expert CA / CS will help you to identify the various types of licenses /Registration/Permits required to start your One Person Company.
For example, to start your food business as an OPC, you might need to register with FSSAI or get FSSAI License.
Tax Advice: To Prepare & file business taxes can be complicated. Our expert CA/CS will help you to prepare and file tax forms correctly with a minimal fee
Annual Audits & Compliances: Our expert CA/CS will help your OPC in annual audits and compliances to complete on time.
Article of Association defines the internal constitution of the company, and memorandum of association describes mission, vision, business objectives of the company in long run.
Any premises be it a commercial/ industrial/residential where communication from the MCA will be received.
No, you need not to be present at our office or appear at any office for the incorporation of a One-person Company. All the documentation has been completed by us. In case of any communication during incorporation, we might use email to receive or send documents to you.
A registration certificate issued by the registrar of the business is valid as long as you are meeting applicable rules & compliances.
You can always choose to restructure your business at any point of time. Whenever you decide your business might be outgrowing its status as a OPC
whether you're looking to take on partners or investors, or you want the benefit of different tax options and liability protection
we have expert resources to help you find the business structure that's right for you.
Download free legal guide on how to successfully start and manage business in India & achieve 100% compliance.
This blog is about registration policy for grant of registration/renewal of registration to various categories of trader of tobacco.
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