OPC Registration in Kolkata

What is a one-person company (OPC Registration Kolkata) ?

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.

What is the difference between a sole proprietorship and an OPC in Kokata?

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.

Reasons One Person Company Registration in Kolkata

These are the main reasons behind to register as an OPC-

1. Single person: This is a type of entity where one person is required to start an entity and it also had advantages of a company. If a single person wants to start a business with company advantages then he must choose an OPC form of entity.
2. Perpetual succession: A registered OPC will have a perpetual succession means the company created once will never die. The death of the owner does not make the company dissolved because it is a separate legal entity in the eyes of law.
3. Separate legal entity: A registered OPC will have the advantage of a separate legal entity means the person created the company is different from the company. The company will be treated as an artificial person and it can buy transfer the shares and also can sue and be sued by another person
4. Easy formation: The one person company formation is easy when compared to other company formation as it requires only one person as a member.
5. Limited liability: The other reason to choose an OPC is the owner's liability in case of any default/bankruptcy is limited and his personal properties will not be attached.
6. Very less compliance
7. Effective control by the owner
8. No third party intervention

Minimum Requirements for an One person company Registration in Kolkata

These are the minimum requirements for an OPC-

• shareholder
• 1 nominee
• 1 director

The shareholder and nominee must be Indian residents.

The process of an OPC Registration in Kolkata

These are the steps required for the OPC registration in Kolkata-

1. Digital Signature Certificate: Firstly the person needs to apply for a digital signature certificate. A digital signature is must and should for the application of formation of an OPC. The DSC is mandatory for the subscriber of Memorandum of Association. The person must obtain a digital signature certificate from the recognized government certified agencies. Necessary documents to obtain DSC are addressed proof, PAN card, Aadhaar card, photo, mobile number, email id.
2.  Director Identification Number(DIN): Once the person gets his DSC he can obtain a DIN. To be a director for any company a person requires DIN. One person gets only one DIN number and they can use the same DIN number for any number of companies.
3. Name of an OPC: The next step for incorporating an OPC is deciding a name for that. A person needs to do a search in the ministry of corporate affairs to check whether the name is available or not. Note: the name should not violate any trademark / similar to an existing company/should not hurt any religion.
4. Documents required: These are the documents required for the process of incorporating an OPC in Kolkata-
   • Memorandum of Association (MOA): MOA is necessary for an OPC. MOA is a document that contains and governs the rules relating to the objects of a company.
   • Articles of Association:(AOA): The article of association is a document which a company needs to follow for the internal management of company affairs and it lays down the bye-laws of the company.
   • An OPC has only one director so the director needs to mention a nominee for the company in case the director becomes incapable to perform duties/ dies
   • There must be a proof of registered office.
5. Filling the details in MCA:

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.