OPC One Person Company
What is One Person Company (OPC) Registration?
The One Person Company (OPC) was recently introduced as a strong improvement over the sole proprietorship. It gives a single promoter full control over the company while limiting his/her liability to contributions to the business. This person will be the only director and shareholder (there is a nominee director, but with no power until the original director is incapable of entering into contract). So there’s no chance of raising equity funding or offering employee stock options. Furthermore, if an OPC hits an average three-year turnover of over Rs. 2 crore or has a paid-up capital of over Rs. 50 lakh, it must be turned into a private limited company or public limited company within six months.
Advantages 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 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.
One Person Company Incorporation Process
OPC Incorporation
Bizbaba.in can incorporate a One Person Company in 14 to 20 days, subject to ROC processing time.
Obtaining DSC & DIN
Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Director of the OPC. DIN and DSC can be obtained for the proposed Director within 5 to 7 days.
Name Approval
A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 5 to 7 working days.
FOR THE REGISTERED OFFICE
Documents Required for Partnership Registration
Online Submit Enquiry
