One Person Company (OPC) Registration

In an effort to enable an individual promoter to attain absolute control over a company, The One Person Company (OPC) has been introduced as a remarkably improved version of the sole proprietorship. The entrepreneur himself will be shareholder and director of the company.
The OPC Registration is a one-time process and is applicable only to the residents of India.

OPC Features

• The solo entrepreneur’s liability to the factors contributing to business gets limited. The liability will never cross the amount that has been invested in the business.
• Even if the individual promoter ceases to perform, there will be a nominee director who can take over the place of the promoter and increase the life of the company.
• The One Person Company must be converted to a public limited company or a private limited company within a period of 6 months if the average turnover of the OPC crosses Rs.2 crore or the paid-up capital goes beyond Rs. 50 lakhs.

Taxation

• OPC needs to pay taxes at a rate of 30% on profits.
• There is the application of Dividend Distribution Tax and Minimum Alternate Tax.

Other Requirements

• Registration of the director to the MCA
• Maintenance of books of accounts
• Compliance with statutory audit requirements
• Submission of income tax returns
• Annual filings with the RoC.

The Way we Assist

• The company director needs to provide the required scanned documents and other details so that we can submit the form online after filling up the necessary details. After this process, the director will receive a Digital Signature Certificate (DSC) necessary for filing the documents of registration.
• The director needs to send some scanned documents regarding the final naming of the company. This will be followed by necessary filings (INC-32, MoA, AoA) and approval of the Certificate of Incorporation.
• There should be a registered PAN and TAN of every company. It will take a period of 21 days after registration for these numbers to be couriered to the registered office.

Important Documents

The director needs to submit a specimen signature and scanned copies of the following:

• PAN or Passport
• Voter ID card or driving license
• Latest Bank Statement/ Gas Bill/ Electricity Bill/Telephone Bill

Attestation:

• The first three documents must be self- attested by the director.
• For NRIs or foreign Nationals, all the documents much be apostilled in case of a Commonwealth country or notarized if in India or a non-Commonwealth country.

Scanned documents to be submitted for the registered office:

• Latest Bank Statement/ Gas Bill/ Electricity Bill/Telephone Bill
• Notarized Rental Agreement in English
• No-objection Certificate from the property owner
• In case of owned property, Property Deed/ Sale Deed in English