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The implementation of the companies act gave the existence of an OPC form of Companies.
The main motive behind the introduction of a OPC Registration in India is it encourages the formation of micro business entities and also it helps and encourages the entrepreneurs who have great potential to start their own enterprise without any other person intervention and to avail some benefits of a company.
The One person company is a kind of company which has only one director and it is registered as a private company with one director and one shareholder. An OPC will have privileges like a corporate body, limited liability, and a separate body. Today there is a large boom and development in the registration of a one person company in Kolkata.
The basic difference between a sole proprietorship and an OPC is the liability and privileges. In sole proprietorship the liability is unlimited and in an OPC the liability is limited so in case of default of any payment the entire assets of sole proprietorship will be taken into consideration and the other difference is OPC has a corporate body and the separate entity which a sole proprietorship does not have.
These are the main reasons behind to register as an OPC-
These are the minimum requirements for an OPC-
The shareholder and nominee must be Indian residents.
These are the steps required for the OPC registration in Kolkata-
All the above-mentioned need to be uploaded in a form named SPICE in the portal of the ministry of corporate affairs.
We at Company Vakil will take care of the entire process for you while you read a few interesting facts about Kolkata.
Kolkata is situated on the eastern bank of river Hooghly. Hooghly is other name for river Ganga. The Princep Ghat in Kolkata is the most famous tourist attraction in Kolkata, when one talks about the water tourism. Apart from this, the Howrah Bridge cannot be separated with the name ‘Kolkata’. This old and antique piece of architecture mesmerizes anyone who travels on it. Another water related tourist place in Kolkata includes Rabindra Sarovar Lake. This is the place which acts as a stage for various cultural shows and performances.
These are the documents required for an OPC registration in Kolkata-
For the formation of an OPC, there must be a director, a nominee and a shareholder. A director and shareholder can be the same person.
If the paid-up share capital exceeds Rs5000000 or if the turnover of preceding 3 consecutive years exceeds Rs.20000000 then it is compulsory for an OPC to become a private company.
A minor, foreign citizen, non-resident or any person who became incapable of forming a contract, cannot form an OPC.
No commercial space is required for office. You can make your home /residential address as your office and need to mention to the registrar of companies if there is any change in office address.
No, it is not necessary to renew every year. Once the company is registered it is valid until the winding up of the company.
DIN means director identification number. At present, to become a director of any company, the government made that a director must obtain DIN. Only 1 DIN number will be given to one person.
It is compulsory, for the formation of a company, there must be a nominee. A nominee will take care of the company if the owner dies/if he becomes incapable to perform the business.
No, the person is not required to present in form for the incorporation as the process is purely online.
There must be at least one board meeting in each half calendar year and the gap between two meetings should not be less than 90 days, they need to maintain proper books of accounts.
An OPC can be started with any minimum capital amount.