What is One Person Company (OPC) Registration?
The One Person Company (OPC) in recent times was launched as a good refinement over the sole proprietorship. In OPC, a single promoter gains full authority over the company thereby restricting his/her liability towards their contributions to the enterprise. Therefore, the said person will be the sole shareholder and director (however, a director nominee is present, but has zero power until the real director proves incapable of getting into the contract). Also, there can be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC company has an average hattrick turnover of Rs. 2 crores and over or acquires a paid-up fund of Rs. 50 lakh and over, it has to be converted to a private limited company or public limited company within six months.
Documents required for OPC Registration
The director of the OPC should submit the scanned transcripts/ copies of the following documents mandatory for OPC registration-
- PAN card or Passport
- Passport, for NRIs and Foreign Nationals
- Scanned transcript of Driver's License or Voter’s ID
- Updated gas or electricity invoice/Bank account Statement/Mobile or landline phone invoice
- Specimen signature or impression
- passport-sized photo
Please Note: The first 3 documents should be self-attested by the OPC director. All the documents for a foreign national or an NRI must be notarized (if residing in India or a non-Commonwealth country at present) or apostilled (if living in a Commonwealth country at present).
Documents Necessary For The Registered Office
- Scanned transcript of Current Bank Account Statement/Phone or Mobile Invoice/Gas or Electricity Invoice)
- Scanned transcript of Rental Agreement written in the English language
- Scanned transcript of N-O or No-objection Certificate from the concerned property landowner
- Scanned transcript of Property or Sale Deed printed in English (if the property is owned)
Note: Your office space which is registered needs to be a commercial area; however, it can be your house of residence as well
What is included in this package?
- Directors Identification Number for 1 Director
- Digital Signature Certificate for 1 Director (If the shareholders are different from directors, then additional DSC is required for Shareholders)
- Guidance for choosing the Company Name (Need Help in choosing your Company Name
- PAN Number
- TAN Number
- The registration process includes - Drafting the Memorandum & Articles of Association, RoC filing fees for an authorized capital, Government Stamp Duty, and Certificate of Incorporation.
- Name Approval Certificate
- GST Registration
- PF Registration
- ESI Registration
- PT Registration (Only applicable in Maharashtra)
Benefits of OPC Registration
Limited Liability
The directors' personal property is always safe in a private limited company, no matter the debts of the business.
Continuous Existence
Sole Proprietorships come to an end with the death of the proprietor. As an OPC company has a separate legal identity, it would pass on to the nominee director and, therefore, continue to exist.
Greater Credibility
As an OPC needs to have its books audited annually, it has greater credibility among vendors and lending institutions.
OPC Registration Process Duration
5 Business Days
Firstly, the OPC director should petition or apply for the DSC otherwise known as Digital Signature Certificate, which is mandatory to file for the company registration records. For this to come through, one only needs to submit a few scanned documents; after which our agents will file the form by filling it and put it online for submission.
7 Business Days
Once the application for the DSC is done, our agents will ask you to choose a name for your business and send us the relevant scanned documents for the same. The sent documents will be used to file for the SPICe i.e. INC-32 and the MoA is otherwise known as the Memorandum of Association and the AoA also known as the Articles of Association. Finally, at the end of this process, the Certificate of Incorporation will be processed and approved.
2 Business Days
All companies need a registered PAN or Permanent Account Number and TAN or Tax Account Number. The application will be filed online by our representatives, however, you will be asked to courier the hard copies of the relevant and required documents yourself. Post the processing, the TAN and PAN will be dispatched to you to your registered office address only within 21 business days.
Documents required for Online Company Registration
In India, Private Limited company registration cannot be done without proper identity and address proof. These documents will be needed for all the directors and the shareholders of the company to be incorporated. Listed below are the documents that are accepted by MCA for the online company registration process acceptable.
Identity And Address Proof
- Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
- Scanned copy of Voter’s ID/Passport/Driver’s License
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned passport-sized photograph specimen signature (blank document with signature [directors only])
For the foreign nationals, an apostilled or notarized copy of the passport has to be submitted mandatorily. All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.
Registered Office Proof
For online company registration in India, the company must have a registered office in India. To prove admittance to the registered office, a recent copy of an electricity bill or the property tax receipt or water bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/his consent to use the office as a registered office of the company should be submitted.
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned copy of Notarized rental agreement in English
- Scanned copy of No-objection certificate from the property owner
- Scanned copy of sale deed/property deed in English (in case of owned property)
Note: Your registered office need not be a commercial space; it can be your residence too.
