One Person Company (OPC) is a business structure which allow one person to act and operate as a company. This gives the person the benefit of limited liability. The concept of One Person Company Registration in Mumbai merges the advantages of a sole proprietorship with the legal protection of a private limited company. We simplify the OPC registration process at nominal cost. our expert will assist you in each and every step of One Person Company Registration in India. The registration takes place under the Company registration act 2013 which allows a person to register for the same.
Eligibility Criterial for One Person Company Registration online
- The applicant must be an indian citizen and resident
- A Minimum authorized capital of 1 Lakh is required
- OPC can't engage in Financial sectors
- A Nominee is appointed while incorporation
Documents Required for One Person Company Registration in Maharashtra, India.
- Memorandum of Association
- Articles of Association
- Proof of Registered office
- A consent and declaration by the proposed director in form INC-9 & DIR-2
- A Declaration by the certified professional that all legal compliances have been met.
Advantages of One Person Company (OPC)
1 Legal Status- An OPC gets a separate legal entity status safeguarding the founder from personal liability for company losses.
2 Easy in obtaining Funds- Since OPC is a private registered company, it is easier to raise funds through venture capitals, angel investors, incubators etc. Banks & the Financial Institutions grant loans easily to a company rather than a proprietorship firm.
3 Lesser Compliances- OPC registration has certain exemptions in terms of legal compliance making it easier to go for registration.
4 Easy incorporation Process- It is easy to incorporate OPC as only one member and one nominee is required for its incorporation. The member can be the director also. The minimum authorized capital for incorporating OPC is Rs.1 lakh. Thus, it is easy to incorporate as compared to the other forms of company.
5 Easily Managed- As only one person manages this, the management becomes easy with decision making.
6 Perpetual Succession- While incorporation a nominee is appointed. so Upon the member’s\founder’s death, the nominee will run the company in the member’s place.
OPC Registration Process
1 Apply for DSC with following documents:
Address proof, Aadhaar card, PAN car and photo.
2 Apply For DIN
3 Name Approval Documentation
4 Furnishing require documents
5 Filing forms with MCA
6 Issue of Incorporation certificate.