ONE PERSON COMPANY
One Person Company is such kind of Corporate Entity where only One person is required to start a business who can be a shareholder as well as director of the company with limited liability.
The concept was introduced to register the unregister person so that even a single person can enter into the corporate entity. It is same as Proprietorship firm where one person owns, control and manage the organization.
It should nominate a nominee in the MOA and AOA of the company who will the sole director in case of any disability of the owner.
If you want to start your business solely or independently without involving any other person than OPC will be the best option for you.
If you want to Register your One Person Company than HMJG LEGAL E-SERVICE INDIA PVT LTD will help you in Company formation and in all the Compliance after Company registration.
Advantages of Partnership Firm
LEGAL SEPARATE ENTITY
One Person Company is an artificial distint Entity so it is separated by law from its owner. In case of Sole Proprietorship, business comes to wound up in case of death of the owner unlike of the OPC .
The liability of the shareholder is limited upto unpaid subscription money in his name and the personal Asset does not get affected by it.
OPC will convert unorganized sector into organized in the form of private limited company. Sole proprietors might enter in to the corporate sector.
Death and insolvency of any of the member does not affect the continuity of the company. Thus the life of its members does not affect the company. Person can become member or even can leave the organization. Transfer of share can not affect the company.
As the Shareholder and Director may be the same person the sole control lies with the owner although the owner may appoint Maximum Upton director still the sole control lies to the shareholder.
EASY AND LESSER COMPLIANCER
As there is no requirement to conduct AGM and the Number of Board Meeting is also comparatively less as only 2 meeting is required in whole year so it is easiest form of Corporate Entity.
Document Required for OPC Registration
Identity and Address Proof
Identity and address proof will be required for all directors and shareholders of the company to be incorporated. In case of Indian nationals, PAN is mandatory. For foreign nationals, apostilled or notarised copy of passport must be submitted mandatorily. All documents submitted must be valid. Residence proof documents like bank statement or electricity bill must be less than 2 months old.
Registered Office Proof
All companies must have a registered office in India. To prove access to the registered office, a recent copy of the electricity bill or property tax receipt or water bill must be submitted. Along with the utility bill, rental agreement or sale deed and a letter from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
SIMPLE & TRANSPARENT PRICING
Frequently Asked Questions on OPC:
How many People are required to incorporate a One Person Company?
Who can become Director or Nominee in a OPC?
Is an office required for starting a One Person Company?
- Agreement Copy of Office Premises (Sale/Purchase Agreement or Lease Agreement).
- Address proof of office address (latest electricity bill or latestGas bill or Mobile bill).(Latest electricity bill in case of rented accommodate Indian National).
- PAN Card of the Individual.
- Address Proof of the Individual (Electricity Bill, Telephone Bill, Bank statement or passbook or rent agreement and latest electricity bill in case of rented accommodation).
- Photo ID Proof of the Individual (Passport, Driving License, Voter ID or Aadhaar Card) Foreign National.
- One Director.
- One Shareholder.
- One Nominee of Director.
- TWO(2) Proposed Name.
- Object of the Company.
- Capital contribution.
- Subscriber to the Memorandum and Article if different.
- Din No. of the Director (if any).
Thinks you will get?
- Certificate of Incorporation (COI)
- Permanent Account Number (PAN)
- Tax Deduction and Collection Account Number (TAN)
- Digital Signature Certificate (DSC)
- Corporate Identity Number (CIN)
- Board Resolution for Bank Account Opening