One Person Company Registration | What Is One Person Company | One Person Company Companies Act 2013 

One Person Company Registration | What Is One Person Company | One Person Company Companies Act 2013 | Benefits of One Person Company | What Do You Mean by One Person Company | Characteristics of One Person Company
00:00 Introduction
00:41 What is OPC (One Person Company)
01:20 Features Of One Person Company
02:40 Difference Between Sole Proprietorship & OPC
05:04 How can we help you?
𝐖𝐡𝐚𝐭 𝐢𝐬 𝐚 𝐎𝐧𝐞 𝐏𝐞𝐫𝐬𝐨𝐧 𝐂𝐨𝐦𝐩𝐚𝐧𝐲?
The One Person Company (OPC) is a form of Private Limited company that has only one member. This member is designated to be the sole owner, manager, and controller of the Company.
In a registered OPC, the sole director has limited liability for the Company's debts and losses. The Company is treated as a separate legal entity.
The company director must appoint a nominee to take their position if the director dies, leaves, or is expulsed.
𝐂𝐡𝐚𝐫𝐚𝐜𝐭𝐞𝐫𝐢𝐬𝐭𝐢𝐜𝐬 𝐨𝐟 𝐎𝐧𝐞 𝐏𝐞𝐫𝐬𝐨𝐧 𝐂𝐨𝐦𝐩𝐚𝐧𝐲
Here, we list you the benefits of One Person Company registration:
• An OPC acts like a real person created by law, which has its identity independent of its member and nominee.
• An OPC is a separate legal entity that can acquire and transfers assets in its name and enter into a contractual relationship with any other person or Company.
• If the director of an OPC leaves or dies, the Company won't cease to exist. However, the power will be transferred to the next nominee.
• In an OPC, the member's liability is limited to the shares they have subscribed to. Therefore, the member is not personally liable for the loss incurred by the Company.
• A designated company such as an OPC has a reputation in the market and thus can easily avail of loans from banks and other financial institutions.
• The decision-making power solely vests with the member of the OPC. The business is managed purely at their discretion.
𝐇𝐨𝐰 𝐓𝐨 𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐎𝐧𝐞 𝐏𝐞𝐫𝐬𝐨𝐧 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐈𝐧 𝐈𝐧𝐝𝐢𝐚?
To register an OPC with the authorities, one must furnish the requisite documents for the incorporation of One Person Company and then file them along with the application for OPC registration.
𝐎𝐧𝐞 𝐏𝐞𝐫𝐬𝐨𝐧 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐑𝐞𝐠𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐃𝐨𝐜𝐮𝐦𝐞𝐧𝐭𝐬
Compared to the documents required for registering a private limited company, an OPC registration requires fairly simple documentation. Therefore, we have enlisted the documents below:
1. Proof of Identification of the director of the OPC, say PAN card, Aadhar Card, Passport, Driving License, or Voter ID Card.
2. Proof of residence of the director of the OPC, say any Utility Bill or a Bank Statement. The utility bills must not be more than two months old.
3. Three passport size photographs
4. Duly filled DIR 2 form, which captures the consent of the person to act as the director of the OPC.
5. Details of the Director Identification Number
6. Digital Signature Certificate of the director to authenticate the documents submitted online.
7. Proof of Identification and residence of the Nominee, if the director dies or leaves the Company, the nominee will his/her place.
Proof of address of the registered office, like Registry of the property in case of owned property and NOC and rental agreement from the landlord in case of a rented property.
𝐇𝐨𝐰 𝐓𝐨 𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐎𝐧𝐞 𝐏𝐞𝐫𝐬𝐨𝐧 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐈𝐧 𝐈𝐧𝐝𝐢𝐚?
How to incorporate a One Person Company? We detail to you the step-by-step procedure for the incorporation of One Person Company:
• Identify and choose a unique name for the OPC
• Reserve the name of the Company with the help of the RUN application.
• Register for and obtain the Digital Signature Certificate (DSC) of the director of the OPC
• Register for and obtain the Digital Identification Number (DIN) for the director of the OPC
• Draft the Memorandum of Association (MoA) of the OPC
• Draft the Article of Association (AoA) of the OPC
• Submit the application online for the incorporation of the OPC
• Assessment of the application by the Ministry of Corporate Affairs (MCA)
• Get the Certificate of Incorporation from the authority.
#OnePersonCompanyRegistration #OPC
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