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OPC Registration in India
OPC stands for ‘One Person Company’ which has been introduced in the provisions of the Companies Act, 2013. The OPCs are the most famous and easiest form of business administration among the start-ups. The biggest advantage of introducing an OPC is that it gives business freedom to the people; a person single-handedly is capable of starting and operating an OPC. The OPC can be actively operated by a single promoter while at the same time having limited liability. OPC registration has been a turning point in the Companies Act since it is a proof that the laws are changing according to the time and needs of people. Though it is mandatory that the OPC should nominate a director in their documents, and if the OPC turnover exceeds a certain monetary threshold it has to be converted
in to a PLC i.e. Private Limited Company. Hence, OPC registration has a comprehensive process of registration, and there are many benefits why one should opt for OPC registration in India.
Apart from the fact that an OPC is a flag bearer of economic and business independence amongst the potential businessmen and stakeholders, who want to start an entity, single-handedly. The further reasons why one should opt for OPC registration can be enumerated as the following-
OPC registration is usually done by following the procedure of opening an account with the MCA (ministry of corporate affairs) and follow the guidelines that have been provided by the same, further professional services like that of Company Vakil also provides services of OPC registration, the procedure of an OPC registration can be understood as the following –
There are certain minimum requirements that one has to keep in their mind while getting their OPC registered which can be enumerated as the followings
There are certain documents that are required for OPC Registration, without which the OPC registration is incomplete and might even be rejected, which are as follows:
There are several advantages of getting an OPC Registration done, which is also the reason why it is the most sought-after company type for the startups, which are as follows:
The RoC of the company i.e. Registrar of Company gets the OPC registered in the records.
One person is capable of getting an OPC registered, that’s why it’s an OPC (One Person Company)
There are certain provisions and thresholds in the act which prescribe for the conversion of an OPC into a Private Limited Company.
The authorities usually take 2-4 days for the OPC registration.
The OPC provisions were introduced in the Companies Act in 2013.
The director has to appoint a nominee who will replace him in case of disablement.
The OPC doesn't have any specific tax exemptions as such.
No, an OPC doesn’t need to get a renewal.
The minimum capital requirement of an OPC Registration in India is 1,00,000.
The OPC can be registered on the official MCA (Ministry of Corporate Affairs) website.