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 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.
In casef your OPC exceeds annual sales turnover by Rs.2.00 crores or the paid-up capital exceeds Rs.50 lakhs, then its 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
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.
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.
Each company in India has to follow a set of compliances as set by different regulatory bodies. The ‘Company Annual Compliance’ regimes need companies to gather their business information and update the regulatory bodies such as Ministry of Corporate Affair (MCA), Income Tax Department etc. Non-compliance may lead to heavy penalties between INR 50,000/- to INR 5,00,000/- For more information contact our customer care on 9870-327-345 or email@example.com.
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