ONE PERSON COMPANY
Rs8,999.00
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ADVANTAGES & BENEFITS

Limited Liability Protection to Directors personal assets

Many times startups need to borrow money and take things on credit. In the case of normal Partnerships, in case business is not able to repay its loans. only investment in the business is lost, personal assets of the directors are safe.

Easy to raise funds and loans

OPC is one of the easiest forms of corporate entities to manage. Very few ROC filing is to be filed with the Registrar of Companies (ROC). No need to conduct Annual General Meeting (AGM) and other regular compliances.

Helps for Testing of Business Model and Enables Funding

The OPC business helps Startup Entrepreneurs to easily test their business model, and upon building a marketable product, they can approach Angel investors, Venture capitalists for funding and easily convert their OPC into multi shareholder Private Limited company.

Better image and credibility in Market

In India, OPC is a Private limited company, which is a popular and well known business structure. Corporate Customers, Vendors and Govt. Agencies prefer to deal with Private Limited Company instead of proprietorship firms.

Easy to Sell OPC

OPC Company is easy to sell, very less documentation and cost is involved in selling a One Person company.

Complete Control of the Company with a Single Owner

This leads to fast decision making and execution. Yet OPC can appoint as many as 15 directors for administrative functions, without giving any share to them.

DOCUMENTS REQUIRED

ID Proof

Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving License

Address Proof

Latest Bank statement/ Utility bill in the name of director which should not be older than two months

Photo

Latest passport size photograph

Office Proof

Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)

WHAT DO YOU GET

DSC

Digital signature for one director to digitally sign the documents

Company PAN

PAN number of the company to open a bank account

Company TAN

TAN number of the company

Memorandum of Association

Defines the rules and objective of the business

Incorporation Certificate

Certificate of incorporation bearing company’s registration number and details

Articles of Association

Defines the rules and objective of the business

QUESTIONS & ANSWERS

What documents required to start Single Person Company (OPC)?

You need to arrange very simple documents of director like photograph, Pan card and one address proof.

Is OPC Registration to be renewed every year?

No. Once the company is formed, it will be valid till it is officially closed down by the owners. No renewal or fees is required. However, every year one man companies have to file very basic returns with ROC office.

Can we change office address of the company after Incorporation?

Yes, company office address can be changed anytime after incorporation.

Does my business have to have some level of turnover to start OPC Private Limited?

This is not true, a Private limited company is one of the mode of doing business, which means it can be started from scratch. For that matter even after incorporating a private limited there is no obligation that the company must have sales or turnover.

Does PF, GST is automatically applicable to OPC Private Limited?

There is no automatic applicability. Provident Fund (PF), GST law applicability is same for all types of businesses like sole proprietorship, partnership firms and companies. These laws are applicable only after crossing certain threshold limits.

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