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One-Person-Company

Actolegal

OPC Registration in India (ONE PERSON COMPANY)

One Person Company in India is a new concept that has been introduced with the Company's Act 2013. One Person Company in India is incorporated by a single person. Before the enforcement of the Companies Act 2013 a single person was not able to establish a company. An OPC has features of a Company and the benefits of the sole proprietorship. Earlier if a person had to establish a business then he or she should only opt for a sole proprietorship. According to Section 2 (62) of the Company's Act 2013, a company can be formed with just 1 director and 1 member. One Person Company registration in India is a type of entity where there are lesser compliances requirements than that of a Private Limited Company. A One Person Company Registration in India can be obtained under the Companies Act 2013 with just one single member and one Director. The Director and member can also be the same person. Here an individual who may A One Person Company Registration in India can be obtained under the Companies Act 2013 with just one single member and one Director. The Director and member can also be the same person. Here an individual who may be a resident or Non-resident Indian can register an OPC in India.

Advantages Of OPC Company in India

Legal standing

The member grants the OPC a separate legal entity status. The sole person who incorporated the OPC is protected by its distinct legal status. The member is not personally liable for the company's loss; instead, his or her liability is limited to the value of the shares that he or she owns. Therefore, the OPC and not the member or director may be sued by the creditors.

Less Conformity

The OPC is given some exemptions from compliance requirements under the Companies Act of 2013. The OPC is not required to prepare the cash flow statement. The secretary of the company is not required to provide any annual reports and maintain any account books.

Easy integration

And one person company in India can be easily integrated without any legal hassles. A member also serving as a director should provide the approval for integration. There is no minimum paid up capital requirement.

Why ACTOLEGAL?

We provide specialist and technical advice based on commercial experience that does not cost the earth. We seek long term relationships with our clients and contacts and understand the importance of providing advice in a proactive and personal way. We are trusted by our clients to manage complex and valuable transactions because we know and understand them, their aims and objectives. We work with our clients as part of their expanded in house team and help them to be more successful. We look forward to working with you

FAQ about One-Person-Company

What is the role of a Nominee in an OPC?

A nominee is an individual who becomes a member of the company in case of the promoter's death or incapacitation.

What is the authorized capital fee?

How to speed up the incorporation process?

Is a Private Limited Company better than OPC?

Is GST mandatory for OPC?

Can OPC raise funds?

Actolegal

One Person Company Compliance - Avoid Costly Penalties

Taxzona 2021-12-10

According to Section 2 (62) of the Companies Act, 2013, a company with only one person as its member falls into the category of One Person Company. It must be noted that one person company can only be incorporated as a private limited company. According to this Act, in one person company compliance, a company is required to conduct at least one board meeting in each half of the calendar year. In one person company compliance, ITR filing is required to be done on or before 30th September of the current financial year. Our team takes care of the documentation and aids in providing you with the realistic estimation of One person company compliance costs.

One Person, One Vision: Why OPCs Are Perfect for Solo Entrepreneurs

Advision Overseas 2024-05-07

Overview On One Person CompanyIn the realm of business entities, One Person Company Registration (OPCs) stand out as a unique and advantageous option for solo entrepreneurs. Bridging the Confidence Gap: OPCs and Private Limited Companies: The parallels between OPCs and Private Limited Companies extend beyond their operational frameworks. Suppliers and customers tend to prefer dealings with Private Limited Companies and OPCs over proprietorship or partnership firms. Streamlining Compliance: The OPC Advantage: OPCs present a notable advantage in terms of compliance requirements compared to Private Limited Companies. Additionally, the option to convert into a Private Limited Company further enhances fundraising potential, providing access to broader capital markets and investment opportunities.

By one person company registration manifests ownership of a single person, one profit holder, and risk bear when you enroll the company. Through Register Experts, you can now achieve company recording under the government of India as OPC without hassle. The concept of one person company is to encourage small traders and entrepreneurs to start their dream project with minimum capital & risk. The topmost vital benefit of forming an OPC company is it has single ownership, meaning complete control. Our trained people from accounting and legal backgrounds are professionals in company registration, taxation, and other related activities.

What is the procedure of starting a one person company in India?

rajat sharma 2022-08-17

In the one person company registration of 2013, a new concept known as the one person company was introduced (OPC). Previously, a one person company registration could not form a corporation. A one person company registration could not form a business prior to the implementation of the companies Act of 2013. As a result, a one person company means that a single individual, whether a resident or an NRI, can form a business that combines the qualities of corporation with the advantages of sole proprietorship. Application for Name Approval: The next step in creating an OPC is deciding on a name for the company.

One Person Company Registration in Delhi: A Panoramic Analysis

Company Adda 2023-06-09

Hence this article discloses an extensive guide for One Person Company Registration in Delhi NCR and its basic processes, requirements, and benefits. Basic Documents Needed ● Inspected copy of a current bank statement,● Electricity bill, gas bill, and phone bill,● Rental agreement in a digital format as a hard copy,● Registered company address, and● Identity proof such as voter id card, passport, and driving license. Features and Benefits of OPC Registration➔ The progression of the company is easy with one or fewer members. The Mandatory Annual Compliances of a OPC➢ Organizing Annual General Meeting (AGM). Finally to recap, in this article we gave you a comprehensive overview of the steps, basic documentation, and features of an OPC registration.

One Person Company Registration

Vivek Ranjan 2024-05-08

One Person Company (OPC) can easily be registered under the outlines of the Companies Act 2013 and the laws relating to it, making it possible for such a company to work as a business without the necessity of partnerships. In addition, the OPC registration is suitable for small businesses whose turnover does not exceed Rs. Benefits of One Person Company (OPC) Registration:There are many benefits accruing to One-Person Company registration in the development of India's economy. The following points explain the benefits for OPC Company Registration Process in India:Limited LiabilityThe member’s personal property is always safe, no matter the debts of the business. Prepare Documents: Now, next is to prepare the following documents which are required to be submitted to the Registrar of Companies:· The Memorandum of Association (MoA) · The Articles of the Association (AoA) · Since there is only 1 Director and a member, a nominee on behalf of such a person has to be appointed because in case he becomes incapacitated or dies and not able to perform his duties the nominee will perform on behalf of the director.

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