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ONE PERSON COMPANY (OPC)

  • Criteria for number of Members = 1

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  • Minimum Director=1; Maximum=15

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  • Right to transfer shares – Restricted

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  • Inviting funds by public issue-Prohibited

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  • Mandatory Filing Returns (ITR, Annual Returns, Financial Statements/Balance sheet, ROC intimation forms)

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  • Required to maintain Books of Accounts.

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  • Audit of accounts-Mandatory

Blue Print

KEY POINTS OF OPC

ADVANTAGES

Hold or Dispose Property

The Company can hold or dispose property in its own name .None of the member can claim any property of the company till the company is in existence.The legal authority (Ownership) over the property lies with the company.

Separate Legal Entity

Separate juristic person i.e., the members and the company are distinct from each other .The shareholders/members will not be liable for the act which has been done on company’s name. Their creditors and contracts entered by the company can bind the company not their members.

Perpetual Sccession

It has unlimited existence (going concern) till it has been dissolved by the members. Its existence will not depend upon the death /incapacity of the members.

Capacity to sue and be sued in its own name

The company can be sued in legal forums, tribunal for the deeds done by it. And the company can sue any party and send legal notice in its own name.

“One Person Company” means a company which has only one person as a Member.

It has been introduced in the Companies Act,2013 for encouraging the entrepreneurs to initiate a start-up with having limited liability without minimum initial requirement of Capital.

1.

The sole member of the one person company should be

  1. Natural Person, Indian Citizen.

  2. Resident in India (Have resided in India for at least 182 days immediately 1 calendar year)
    This person can either

     

    • Be a member

    • Shall act as nominee

The Natural person cannot be a : 

  1. Member of more than 1 OPC at a time.

  2. Nominee of more than 1 OPC.

2.

NOTE

  • Minor–Cannot be a member,Nominee, or can hold share with beneficial interest.

  • OPC Cannot:

    • be converted into NPO (Section 8 company)

    • Carry out NBFI( Non Banking Financial Investment) Activities

    • carry out Investing in securities of any other corporate body.

  • Voluntary Conversion – Voluntary conversion cannot be performed into any other class of company unless 2 years have been elapsed since its incorporation.

  • A OPC must be converted:

    • Paid up share capital beyond 50 Lakh

    • Into Private limited company on attainment of  Average Turnover exceed 2 crore

3.

Nomination Procedure

  • Obtain prior written consent of the person to be appointed to be nominee. (In case of death /incapability to contract will act as member of the company)

  • Name of the nominee shall be mentioned in the memorandum .

  • Such Nomination shall also be filed in SPICE Form.

4.

Easy withdrawal of Nomination

  • The nominee can withdraw himself from the designation by Giving NOTICE to:

    • Sole member

    • OPC

5.

Affect of withdrawal

  • Sole member will have to send an intimation(NOTICE) to The OPC (within 15 days)+INC-3(written consent)-of the new person nominated.

  • Within 30 days of receipt of intimation notice The OPC will have to intimate the ROC INC-4 (Intimation of the name of the other person nominated )+ INC-3( written consent )

6.

Role of Nominee (In case member dies/became incapable to contract)

  • Nominee became the member

  • Within 15 days appoint another nominee

  • The company will intimate ROC within 30 days in requisite form.

7.

APPLICATION PROCESS

Signature
APPLY FOR DSC

Apply for DSC (Digital signature certificate) with us in case you are not having one.

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E-MAIL US THE FOLLOWING

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  1. the proposed name/s and objects of the OPC to be incorporated

  2. following self attested documents:

    1. PAN CARD

    2. IDENTITY PROOF – Self attested copies (KYC) Voter Id/ Driving License/ Passport of partners.

    3. ADDRESS PROOF –Bank Statement/ Electricity Bill/ Telephone Bill/ Mobile Bill (less than 2 months old )

    4. ADDRESS PROOF OF THE PROPOSED REGISTERED OFFICE- Conveyance/ Lease deed/ Rent agreement etc. along with rent Receipts.

    5. NOC from owner of the Property.

    6. COPY OF UTILITY BILLS OF THE PROPOSED REGISTERED OFFICE (not older than 2 months)

    7. Passport sized photograph of promoter.

Name Tag
RESERVATION OF NAME

Reservation of Name -[2-5 DAYS for approval]

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Once name is reserved, preparation of other required documents shall be start from our end- shall be sent to the client who shall send back the signed copy of the same to us.

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YOUR OPC GETS INCORPORATED

Now sit back and relax…. We will take care of the rest [7-10 DAYS for COMPLETION OF REST]

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PAN & TAN shall be delivered at the address mentioned and we will provide you Your Company’s Certificate Of Incorporation along with its MOA and AOA.

START NOW!

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