OPC Registration Jaipur

OPC Registration in Jaipur - A Brief

An OPC is also known by the name of One Person Company, which was introduced by the Companies Act, 2013 thus enabling even one person to open and run a company. The One Person Company may also be sometimes known as a sole proprietorship.

The idea behind its introduction was to enable the entrepreneurs having great potential by allowing them to start their own enterprise by giving them the opportunity to start a single person business entity.

The ability of an OPC to have just one member is the largest advantage as all the business structures available for choice before this required at least two members for the incorporation and registration of the business.

But an OPC has to keep a proper record and maintain proper books for its accounts and it is necessary for all OPCs to participate in the Statutory Audit of Financial Statements and also it is mandatory for every OPC to file an income tax return every year.

If an OPC hits an average three-year turnover of over INR 2 crore or has a paid-up capital of over INR 50 lakh, it must be turned into Private ltd Company or Public Ltd. Co. within six months.

We at Company Vakil help you register a One Person Company from Jaipur. Jaipur houses many royal palaces amongst which comes the City Palace. It consists of several gardens palaces and temples. Some of them are the museum, Maharani’s palace, Chandra Mahal, Mubarak Mahal etc. It also has Diwan-I-Khas and Diwan-I-Am, which are meant for private and public affairs respectively. Most of the area in this palace is still occupied by the descendants of the rulers of Jaipur. The decoration and art here attract millions of tourists each year.

Reasons an OPC registration in Jaipur

1.     Only one member is required for the incorporation of an OPC

2.     A One Person Company remains unaffected by the death of the director or a change in ownership.

3.     A One Person Company is very easy to set up and manage as compared to other forms of business structures such as Private Limited Company, LLP etc.

4.     A One Person Company also limits the liability of its director and makes his personal assets free of any influence from affairs related to the company itself.

5.     The registration process is quite easy, efficient, affordable, guaranteed and moreover, one can get the OPC registered online through Company Vakil without any hassle.

6.     A One Person Company requires meeting very few numbers of compliances than other business structures.

7.     It costs just Rs. 8,999 for a person who is looking for One Person Company registration in Jaipur through ComapnyVakil.com.

Process for OPC Registration in Jaipur

1. Obtain DSC: DSC stands for Digital Signature Certificate. Obtaining the Digital Signature Certificate of the proposed director of the company is the first step.
2. Obtain DIN: DIN stands for Director Identification Number. After obtaining the Digital Signature Certificate for the proposed director, the proposed director has to apply for a DIN or Director Identification Number by filling the Form DIR – 3.
3. Apply for Name Approval: After both DSC and DIR have been procured by the Director, the next step is to decide a suitable name for the company. The best course of action for this is to check the availability of names to make sure that the proposed name has not already been registered for some other company. In order to get the name approved by the Ministry of Corporate Affairs, the INC – 1 Form needs to be filled. To do this one has to submit a list of six proposed names essentially in the order of preference.
4. Drafting of MoA and AoA: The next step is the drafting of two documents known as the Memorandum of Association (MoA) and Articles of Association (AoA) of the company which are in a way the charter documents of a One Person Company.
5. Submitting SPICe Form: SPICe stands for Simplified Proforma for Incorporating Company Electronically. All the documents need to be attached to the SPICE MoA, SPICE Form, SPICE AoA along with the DSC of the director, and it will be uploaded to the Ministry of Corporate Affairs site for their approval.
6.  Certificate of Incorporation: The Registrar of Companies (RoC) issues a Certificate of Incorporation upon the completion of verification of documents. After the receiving of the Certificate of Incorporation, one can start their business.

Minimum Requirements for OPC Registration in Jaipur

There are certain basic and minimum requirements which need to be fulfilled by a One Person Company in Jaipur to be successfully registered. They are:

1.     Minimum one shareholder and one director are required for the registration of an OPC through the shareholder and the director may very well be the same person.

2.     One nominee is also required to be able to get through the registration process.

3.     Only a natural person who must also be a resident of India can be a member or a nominee of a One Person Company.

4.     The minimum authorized share capital is INR 1 Lakh.

5.     DIN numbers are required for the directors.

6.     A person can be a part of only one OPC at most.

7.     A registered OPC has to maintain proper books and needs to take part in a Statutory Audit of the Financial Statements.

8.     Every OPC also has to file a business income tax return annually before 30th September.