The Companies Act, 2013, introduced the idea of One Person Company. It has been defined under Section 2(62) of the Companies Act, 2013 as a company that has only one person as a member. Its purpose is to enable individual entrepreneurs to carry out business within a corporate framework. In this way, the said individual will be the sole investor and chief (notwithstanding, a chief candidate is available yet has no power until the genuine chief demonstrates unequipped for continuing). Additionally, there can be no open door for adding to representative investment opportunities or value financing.
Lawful status The OPC gets a different lawful element status from the part. The different lawful element of the OPC gives assurance to the single person who has joined it. The risk of the part is restricted to his/her portions, and he/she isn't actually responsible for the deficiency of the organization. In this manner, the lenders can sue the OPC and not the part or chief.
Simple to acquire reserves Since OPC is a privately owned business, it is not difficult to raise support through venture capital, angel investors, incubators, etc. Banks and Financial Institutions like to give advances to an organization rather than an ownership firm. Consequently, it turns out to be not difficult to get reserves.
Fewer compliances The Companies Act, 2013 furnishes specific exclusions to the OPC related to compliance. The OPC need not set up any pay explanation. The association secretary need not sign the books of records and yearly returns and be checked basically by the boss.
Simple incorporation It is not difficult to fuse OPC as only one part, and one candidate is needed for its joining. The part can be the chief moreover. The base approved capital for joining OPC is Rs.1 lakh, yet there is no base settled-up capital necessity. Along these lines, it is not difficult to join when contrasted with different types of organizations. Simple to make due Since a solitary individual can build up and run the OPC, it turns out to be not difficult to deal with its issues. The dynamic cycle is quick. The customary and exceptional goals can be passed by the part effectively by entering them into the moment book and endorsed by the sole part. In this manner, running and dealing with the organization is simple as there will not be any contention or postponement inside the organization.
Perpetual succession The OPC has the component of interminable progression in any event when there is just a single part. Upon the part's death, the selected candidate will run the association in the part's place.
1. PAN card or passport 2. Passport for NRIs and foreign nationals 3. Driver's license or voter’s ID 4. Latest gas or electricity invoice/bank account statement/mobile or landline phone invoice 5. Specimen signature or impression 6. Passport-size photo.
1. Scanned record of current bank account statement/phone or mobile invoice/gas or electricity invoice 2. Scanned record of rental agreement written in the English language 3. Scanned record of a no-objection certificate from the concerned property landowner 4. Scanned record of property or sale deed printed in English
Step 1: Check eligibility and documents Step 2: Apply for DSC & DIN of all the directors Step 3: Application for name reservation Step 4: File specific and form for company incorporation Step 5: Apply PAN and TAN for your new entity Step 6: RoC issues a certificate of incorporation with a PAN and TAN Step 7: Open a bank account and start operating.
For a One - Person Company Registration, we take 15 days.