INR 9,499 /- (All Inclusive)
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Give business venture an organized structure with OPC that provides a whole new bracket of opportunities to young businessmen.
As the name implies, One Person Company typically refers to a business that is run by a single person with the inclusion of limited liability protection. The major objective behind the incorporation of One Person Company is to omit out the limitation of a sole proprietorship. A person himself can set up an OPC. On the other hand, setting up a Private Limited Company or a Limited Liability Partnership (LLP) requires a minimum of two members.
However, besides offering various benefits, there are certain limitations associated with One Person Company too. Moreover, a One Person Company need to be transformed into a Private Limited Company paid-up capital gets more or equal to Rs. 50 lakhs or the Annual turnover for the relevant financial year exceeds Rs. 2 crore and the company mustsubmitaudited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year similar to all other kinds of Companies. Thus, it is necessary for an individual to thoroughly understand the pros and cons associated with a One Person Company before incorporation.
At Trade Bazaar, we have a seasoned pool of experts who know what it takes to set up a One Person Company in the most hassle-free manner. From its incorporation to taking necessary approvals, and managing its associated functions etc., we aspire to become your one-stop avenue in the industry. It takes around 7-8 days to setup a One Person Company, subjected to application processing time, and document submission. Call us today and know more about your decision to set up an OPC.
How One Person Company different from a Private Limited Company?
One Person Company is more like a “Private Limited Company” in terms of incorporation. It can be setup as a company limited by only share capital. The term "One Person Company" will be clearly depicted in brackets below the name of any such firm, wherever its name is printed, engraved or affixed.
Is One Person Company needed to follow less compliance as compared to a Private Limited Company?
To some extent this is true. Being an easy to setup business, One Person Company requires extremely few ROC filing with the Registrar of Companies (ROC). In addition, there won’t be any need to carry out Annual General Meeting (AGM). This clearly means less compliance as compared to a Private Limited Company.
Who can set up an OPC?
It just need one individual to setup a One Person Company. The person should be an Indian resident and eligible for setup. There is no restriction on educational qualification and anyone can become a shareholder of the company.
What is the role of Digital Signature Certificate?
Digital Signature Certificate (DSC) generally refers to a digital signature of a person and it is primarily needed for filling the e-forms of company incorporation electronically to Ministry of Corporate Affairs.
What is DIN (Director Identification Number) and why it is required
This unique number is assigned to a person and remains in force for the whole life of that individual. It is mainly needed to become the Director of any company.
Name the documents required for setting up a One Person Company.
Below is the list of documents needed for One Person Company incorporation for both Directors and Nominee -
Is there any limit on the minimum capital for One Person Company setup?
No, there is no limited applicable to set up an OPC.
Who can become a nominee in a One Person Company?
The person should be an Indian citizen and not less than the age of 18 years. Any such person can become a nominee in a One Person Company.
Is there any limit on the number of One Person Companies a person can incorporate?
Yes, a person can set up only one One Person Company.
Should promoters need to be physically present at the time of incorporation?
No need to present physically at the time on incorporation.
How much time it takes to setup a One Person Company?
In general, the setup of a One Person Company takes around 5 to 8 working days. The total time taken typically depends on the filing of necessary documents by the client and processing government approvals. To enable easy and faster processing of setup, it is recommended to pick a unique company name and make sure to furnish all required documents prior to company incorporation.
How to choose a company name under incorporation?
Primarily, it is required to get a unique name as prefix. The promoters need to furnish name of the proposed company along with the detailed description of the name chosen. Secondly the name needs to contain a word associated with company’s business activity. Eventually before picking Names, it is advised to verify the name MCA Portal, MCA Guidelines and Trade Mark site the availability of Name.
What is the cost difference between an OPC setup and a Private Limited Company setup?
There is no big difference in terms of setup cost in both the cases but in OPC only one person required.
What is memorandum of association & article of association?
MOA & AOA of the company is meant to list all the rules and regulations and the process flow of company. It also describes all necessary details related to the company's objects, capital, individuality, objectives and working pattern. After the name of the company is chosen, the Memorandum of Association and Articles of Association of the company is needed to be conscripted, the last page of the MOA and AOA is called subscriber sheet and needs to be filled in by the promoters on their own by giving their personal information and shareholding ratio.
What is called the certificate of incorporation of the company?
Registration Certificate COI