An OPC is the most present day type of business in India proposed by the Companies Act, 2013 and comprehend for a-One Person Company.
A ground breaking thought was propelled which advances the consolidation of miniaturized scale organizations and people with pioneering thoughts and to give a lift to business visionaries who can possibly start their endeavor by allowing them to manufacture a solitary individual organization.
You can undoubtedly enlist one individual organization under the blueprints of the organizations Act 2013 and the laws thereto, where it was made feasible for a solitary individual organization to fill in as an organization without the unpredictability of having accomplices. This urges more individuals to approach to initiate a business. The OPC is fit for independent ventures where the turnover isn't probably going to cross Rs. 2 Crores. IN OPC Registration it's imperative to take note of that the candidate or the executive ought to be Indian Resident.
One Person Companies are profiting to a great extent in building up the general economy of India. An ever increasing number of Entrepreneurs are coming up and beginning their business. By joining of OPC, the organization can appreciate the advantages in banking point and are qualified for Banking advances, credits. In this way, in the event that you need to fire up your own business, you don't need to stress over all the system and moderate procedures.
Coming up next is the qualification rules for OPC Registration in India.
Can have more than 1 chiefs, yet the investor can't be mutiple.
Not influenced by the passing of a part or move in possession.
Easy to set up and keep up relatively.
Limits the liabilities of its individuals
Least Paperwork is required.
Can fill in as Stockbroker or Sub-specialist
Not numerous compliances
No obstruction from any outsider is seen
| S.No. | Particulars | OPC Company | Private Company | LLP |
|---|---|---|---|---|
| 1 |
Eligibility |
Only an individual who is an Indian citizen and resident in India is eligible to incorporate an OPC |
Any individual be it NRI or Indian citizen can form a Private limited company. |
Any person and group of corporate can be a partner in LLP |
| 2 |
Minimum Requirement |
Member – 1, Director – 1, Nominee of Sole Member – 1 |
Members – 2, Directors – 2 |
Designated Partners – 2 |
| 3 |
Procedure |
Get DSC, DIN, MoA & AoA along with INC-32 Incorporation Filing, PAN, TAN Applications |
Acquire DSC, MoA & AoA along with INC-32 Incorporation Filing, PAN, TAN Applications |
Collect DSC, DPIN, Name Approval, Filing for Incorporation, File LLP Agreement, PAN and TAN Applications |
| 4 |
Existence |
Existence of an OPC is never dependent on the Nominee or Director. Can be dissolved by Regulatory Authorities. |
A private limited company is not dependent on the directors or shareholder. Can be dissolved only intentionally or by Governing Authorities. |
LLP can sustain its survival irrespective of changes in partners. |
| 5 |
Credibility |
Medium |
High |
Medium |
| 6 |
Time Taken in Registration |
15 – 20 Days |
10 – 15 Days |
15 – 20 Days |
| 7 |
Conversion System |
Cannot be converted before 2 years |
Can be converted into LLP |
Not directly converted into a Private Limited Company |
| 8 |
Compliance Requirements |
Annual Return Filing No Board Meetings, if only one director No General Meetings |
Annual Return Filing Board Meetings & General Meetings |
Annual Return Filing |
| 9 |
Statutory Audit |
Compulsory |
Compulsory |
Only in case contribution is more than 25 lakhs and less than 40 Lakhs |
| 10 |
Fund Raising Options |
Low |
High |
Low |
| 11 |
Recommended For |
Sole promoters |
Start-ups and growing |
Professional services firms |
| 12 |
Foreign Investment |
Not Allowed |
Allowed |
Allowed |
Coming up next is the qualification rules for OPC Registration in India.
The name ought to be succinct and not be excessively long. Individuals ought to have the option to review and articulate your organization's name effectively the first occasion when they hear or read it.
The name of your OPC ought to be applicable to your business. It should fit the organization's marking methodology. For instance, Infosys alludes to data frameworks or IT advances.
Name of your OPC ought not be actually the equivalent or indistinguishable from a current LLP or organization or trademark or for which a trademark has been applied for. You can go to search.legalraasta.com to check if your organization name coordinates any others. Preferably, you ought to stay away from plural variant e.g, "Snapdeals" or only changing the letter Case or accentuation checks or dividing in a current LLP, Company and Trademark name.
OPC's are not required to end their name with "Private Limited" or "Restricted".
The name of your LLP ought not be against law. It ought not be oppressive or against the traditions and convictions of any religion and ought not utilize words or expressions which are utilized as a slur and are hostile to a specific gathering of individuals. Further, names ca exclude foul words or expressions.
Your OPC's name ought not be given under and disregard the Emblems and Names (Prevention of Improper use) Act, 1950. Snap here to check the names. (See the Schedule). Ought not utilize the words "English India".
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The executives’ very own property is always sheltered in regardless of the obligations of the business. In OPC just interest in the organization is lost, individual resources of the executives are spared.
An OPC has a different legitimate personality, it would give to the candidate chief, in this manner, it has proceeded with presence.
An OPC requires to have its books evaluated yearly, it has higher believability among merchants and loaning foundations.
OPC Company is easy to sell on account of restricted documentation work.
This reality helps in quick dynamic and execution. However OPC can choose upwards of 15 executives for legitimate capacities, without giving any offer to them.
OPC is 1 of the least demanding types of corporate elements to work. Not very many ROC documenting is to be enlisted with the Registrar of Companies. No compelling reason to deal with Annual General Meeting and other normal compliances.
One Person Company (OPC) another organization arrangement, maintains the upsides of sole ownership and the corporate state having one part, as the Director and a chosen one. The idea of OPC Registration was begun by the Companies Act, 2013 to give a lift to the business visionaries who have the capacity of initiating their own endeavor. They are pertinent to make a solitary individual organization. The OPC Registration is required for all business visionaries.
At any rate one candidate is required to begin an OPC who can go about as an investor just as an executive.
No, you are not allowed to frame more than 1 OPC and candidate in your organization can't be chosen as the candidate in some other OPC organization
There is definitely no other installment. We will send you a comprehensive receipt, with no shrouded charges
The fundamental essential consistence are:- • Keeping a legitimate book of records • Filing of organization annual government form the entire year before 30th September
No, FDI isn't allowed for OPC Company arrangement, in the event that it does, at that point it will lose its genuine nature of OPC
The least capital interest is Rs. 1 Lakh yet this sum differ from your speculation. Approved capital and venture are not the equivalent in OPC Company. You can contribute as much as you need to however when you have to consolidate an organization expertly, it must be started with Rs.1 Lakh as capital.
Any individual/association can turn into an individual from One individual organization including outsiders/NRI's.
The whole methodology is 100% on the web and you don't need to be available at our office or some other office for fuse. A checked duplicate of reports must be sent through mail
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