As earlier under Companies Act, 2013 at least two persons were required as Members and Directors to form a Company which is not the same in the case of OPC.
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As earlier under Companies Act, 2013 at least two persons were required as Members and Directors to form a Company which is not the same in the case of OPC. It is a simplified process with online filing and process.
In this type of entity it has only one shareholder who owns the 100% stake in the company. Also a nominee is required to be appointed in order to maintain the character of perpetuity who shall work in place of the owner in case of circumstances like death or his/her inability to continue.
Legal Window has team of experts providing you the best assistance, timely delivery and guaranteeing the highest customer satisfaction with respect to Company incorporation process. You may get in touch with our team on 072407-51000 or email [email protected] for One Person company registration and Compliance services.
Once an entity is registered it is born in the eyes of law which means it is separate from its owners, unlike in proprietorship firm.
As One Person Company is a separate legal entity its Liability is limited to an extent of its Share Capital or the guarantee provided. The Company's obligation does not create any right over the Owner's personal assets.
Being a One Person Company, there are various exemptions as compared to private limited company like holding of Board and General Meetings.
A Company has a perpetual existence, once it is registered lives forever until and unless it is not winded up by the Promoters or the Government. Once an entity is registered it is born in the eyes of law.
You are requested to first fill the simple questionnaire provided by our expert team.
At the second step we will be requiring the documents in accordance with the questionnaire filled by you so that we can arrange them as per the requirement and for processing.
DSC is a Digital Signature Certificate consisting of the E-signatures prepared. It will approximately take 1 day.
The next step is to check the name availability. The name should be unique in nature and should not be similar to name of any other entity registered. It may take at least 1-2 days.
Once the name is approved, an online application is required to be filed through SPICE+ along with the requisite documents as obtained from the client with ROC. The MOA as well as AOA shall be filed online. This process again takes approximately 2-3 days.
Once the Company gets incorporated, we will share all the documents like Incorporation Certificate, MOA, AOA and Digital Signatures.
You can check Company name availability thereby logging into MCA where you need to keep in mind two or three available options along with the activity type. Our team will assist you in the selection of name of company.
Also, along with checking the name availability we also need to check the trademark if already registered under the proposed name which makes the online application for registration more powerful. If you want to have a trademark of your word or logo you can get the same through Legal Window by clicking on the link. Trademark Registration.
If the proposed Director is already having the DIN then you can also check whether DIR-3 KYC is completed. You can verify the same with the help of our experts. If the same is not done yet, it can be done with help of Legal Window.
The One Person company is required to manage all the compliances after incorporation of the company like appointment of statutory auditor, filing commencement of business, Income Tax Filing, Annual Returns with ROC and other compliances as required by the law. Legal Window has a team of experts who keeps an eye on the due dates of your compliances and reminds you through mails.
Only person resident and citizen of India is eligible to incorporate One Person Company and will not be eligible to incorporate one more OPC.
Any other legal entity like LLP and other Companies cannot become the Member in OPC.
Minor is not eligible to become a Member in OPC.
If the turnover of an OPC crosses 2 crores or has paid up capital more than 50 lakhs then the same shall be converted either public or private company within 6 months.
| Net Taxable Income | Income Tax Rate | Surcharge | Health & Education Cess |
|---|---|---|---|
| Upto Rs. 1 crore | 30% | Nil | 4% |
| Above Rs. 1 crore but upto Rs. 10 crore | 30,00,000+ 30% | 7% | 4% |
| Above Rs. 10 crore | 3,00,00,000+ 30% | 12% | 4% |
| Net Taxable Income | Income Tax Rate | Surcharge | Health & Education Cess |
|---|---|---|---|
| Upto Rs. 1 crore | 25% | Nil | 4% |
| Above Rs. 1 crore but upto Rs. 10 crore | 25,00,000+ 25% | 7% | 4% |
| Above Rs. 10 crore | 2,50,00,000+ 25% | 12% | 4% |
In case of incorporation, additional stamp duty is applicable in some states-
| Basis | Private Limited Company | Public Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Proprietorship Firm |
|---|---|---|---|---|---|---|
| Registration Requirement | Companies Act, 2013 | Companies Act, 2013 | Companies Act, 2013 | LLP Act, 2008 | Registered/Unregistered | No Specific Criteria |
| Number of members | 2 – 200 | 7-∞ | Only 1 | Unlimited | 2-50 partners | Only 1 |
| Number of Director | 2-15 | 3-15 | Only 1 | 2 designated partners | NA | NA |
| Naming of Entity | Unique | Unique | Unique | Unique | No Guidelines | No Guidelines |
| Capital Requirement | Zero | Zero | Zero* | Zero | Zero | Zero |
| Liability of Entities | Limited | Limited | Limited | Limited | Unlimited | Unlimited |
| Foreign Investment | Eligible | Eligible | Not Eligible | Eligible | Not Allowed | Not Allowed |
| Statutory Audit | Mandatory | Mandatory | Mandatory | Mandatory | Not Required | Not Required |
| Compliance Level | Annual Compliance | Annual Compliance | Annual Compliance | Annual Compliance | Less Compliance | Zero Compliance |
| Tax Rate | 22% | 22% | 22% | 30% | 30% | Individual Tax Rate |
| Know more | Know more | You are here | Know more | Know more | Know more |
Talk to our team about the nominee, the capital and the package that fits before you file.