How to Register your One Person Company in India A Step- by- Step companion
Are you interested in starting a one person company( OPC) in India? If so, this blog post is for you! We ’ll give you with a step- by- step companion on how to register your one person company in India.
This post will cover all the essential information you need to know when it comes to one person company enrollment , including the documents needed, enrollment process and the freights involved. With our help, you ’ll be suitable to successfully register your OPC and start your business without any hassle. So let’s progeny started!
1.Eligibility Criteria for OPC
Before you can begin the process of One Person Company( OPC) enrollment in India, it’s important to understand the eligibility criteria. Then are the crucial factors to consider
- Sole Ownership The most important criterion for OPC enrollment in India is that the company must have only one proprietor who acts as the sole director and shareholder.
- Resident Director The director of the OPC must be a occupant of India, i.e. they should have lived in India for at least 182 days in the former timetable time.
- designee Director The OPC must appoint a designee director who can take over the business in case the original director becomes incapacitated.
- Company Type Only certain types of companies can register as OPCs in India. These include private limited companies, public limited companies, and companies limited by guarantee.
- Business Conditioning OPCs can engage in any legal business conditioning in India, but certain conditioning like banking, insurance, and fiscal investment bear special licenses.
By meeting these eligibility criteria, you can take the first step towards registering your own OPC in India. Keep reading to learn further about the enrollment process, needed documents, and freights
2.The Process of OPC Registration
Once you have assured that you meet the eligibility criteria for OPC enrollment in India, you can begin the process of enrollment . Then are the way involved in OPC enrollment
Step 1 gain a Digital hand Certificate( DSC) A digital hand instrument is needed for all directors and shareholders of the company. You can gain this instrument from a certifying agency approved by the government of India.
Step 2 Apply for Director Identification Number( noise) The coming step is to apply for a noise for the proposed director of the OPC. This can be done online through the Ministry of Corporate Affairs( MCA) website.
Step 3 Apply for Name blessing The proposed name of the OPC must be approved by the MCA. You can submit up to six names for blessing and the MCA will respond with the vacuity of each name within a many days.
Step 4 Prepare and train the objectification Documents Once the name is approved, the final step is to prepare and file the objectification documents with the MCA. The documents include the Memorandum of Association( MOA), Articles of Association( AOA), and other applicable documents similar as the address evidence and identity evidence of the director.
Step 5 Payment of freights After submitting the documents, you’ll need to pay the enrollment freights. The freights vary depending on the authorized capital of the OPC.
Step 6 Certificate of Incorporation Once the MCA verifies the documents, a Certificate of Incorporation will be issued, and the OPC will be registered in India.
3.Documents Required for OPC Registration
To register your One Person Company (OPC) in India, you will need to provide a variety of documents as part of the registration process. These documents serve as proof of identity and business ownership, and they are critical to ensuring that your OPC is legally recognized by the Indian government.
Here are the key documents you will need to provide when registering your OPC:
- Identity proof: You will need to provide a copy of your PAN card, Aadhaar card, or passport to verify your identity. In case of a foreign national, the passport copy should be notarized by the Indian embassy.
- Address proof: You will need to provide a copy of your recent utility bill (electricity bill, telephone bill, etc.), bank statement, passport or driving license as proof of your registered office address.
- No-objection certificate (NOC): You need to get a no-objection certificate from the property owner for using the premises as a registered office of the OPC.
- Memorandum of Association (MoA) and Articles of Association (AoA): The MoA and AoA outline the objectives and operational details of the OPC. It should be prepared by a Company Secretary, Chartered Accountant, or Advocate.
- Consent from nominee: Your nominee director must provide their consent in writing.
- DSC (Digital Signature Certificate): You will need to obtain a Class-II Digital Signature Certificate from government-approved agencies. The DSC is mandatory for filing documents electronically with the Ministry of Corporate Affairs.
All these documents are important for OPC registration. Ensure that you have all these documents in place before starting the registration process. This will save you a lot of time and hassle and ensure that your OPC registration is smooth and hassle-free.
4.freights for OPC Registration
As with any legal process, there are freights associated with registering your One Person Company in India. The exact cost may vary depending on a many factors, including the state in which you register and the type of business you plan to operate.
In general, the freights for OPC enrollment in India can range from INR 2,500 to INR 10,000. This includes government form freights and professional freights for hiring a company clerk or a chartered accountant to help with the process. also, it’s important to note that there may be ongoing compliance freights to maintain your OPC enrollment , similar as periodic form freights or freights for streamlining your company’s records.
It’s always stylish to consult with a professional to get an accurate estimate of the total costs involved. While the freights for OPC enrollment may feel daunting, it’s important to flash back that investing in the proper legal structure for your business can save you time, plutocrat, and headaches down the road. So do not let the freights hold you back from taking this important step towards starting your own One Person Company in India.
Registering your One Person Company( OPC) in India may feel like a daunting task, but it’s actually relatively simple if you follow the correct way and procedures. originally, it’s important to insure that you meet the eligibility criteria for OPC. Once you’re eligible, you can do with the enrollment process by following the way outlined over. Do not forget to gather all the necessary documents and pay the needful freights. In the end, registering your OPC will give you the benefits of a limited liability company while allowing you to operate your business on your own terms. Good luck!