Thinking of starting a business alone? Confused weather you can do it or not? The answer is bigger yes! And the answer is OPC (One Person Company). To help you make the decision of forming OPC more confident, let’s understand in details what OPC is:
OPC was introduced as a strong expansion over the sole-proprietorship. OPC stands for One Person Company and as the name suggests, it offers total control over the organization by limiting his/her liabilities for involvements to the particular business. One Person Company Registration is a legal process and at Lex Oracle, we offer the best services. If you are running an OPC, then you will be the only shareholder and director as well.
The new concept of OPC is introduced by The Companies Act, 2013 (No.18 of 2013).As per section 2(62) of the companies act OPC means a company that has only one person as its member.It is a new type of business entity that enables single entrepreneur to run a corporate entity with limited liability protection. Hybrid of Sole-Proprietor and Company form of business, OPC supports entrepreneurs who on their own are ableto start a business enterprise by enabling them to make a single person economic entity.
OPC has been given with relaxed/concessional requirements under the Companies Act. OPC have a minimum of One Director and maximum number of 15 directors.Only an Indian citizen and resident in India (a person living in India for a duration of more than 182 days during instantaneouslyforegoing one calendar year) shall be eligible to incorporate OPC.
With our one person company registration India services, you can add following benefits:
Uninterrupted existence: An OPC is an incorporated entity. Hence, it will have the elements of continuous succession and it will make it easier for the entrepreneurs to increase the resources for business. We offer easy one man business registration process.
Borrowing capacity: An organization enjoys much better perks when borrowing the funds in the right way. When it comes to financial institutions helps and banking funds, they also prefer to render bigger monetary assistance to an organization rather than proprietary and partnership firms.
Owning property: An organization being a juristic individual, can obtain, enjoy and alienate land in its personal name. There will no shareholder to claim upon. It is one of the biggest advantages of opc registration. If you willing to avail the advantages of one man business, connect with the experts at Lex Oracle. Call Now!
When you are a one-man-army it gets really tough at times to keep a tab on all the things at a given time. We at LexOracle look forward to help you out when it comes to the registration of your company if you are its sole owner. We make sure that you don’t need to worry unnecessarily about the complications of your business setup and ensure that you invest your time in making it a success. You either can give us a call on our contact number +91-9650607954 or can reach us via your mails. Our 24X7 support will ensure that you are attended.
1) Is there any mandatory condition when the OPC has to change itself into Private or Public company?
If the paid-up share capital of an OPC exceeds by 50 Lakh rupees or if the annual turnover of the OPC exceeds by 2 Crore Rupees in relevant period then the OPC has to convert itself into Private Limited Company or Public Limited Company mandatory
2) What if a person becomes the member or nominee of two or more OPC’s?
If a person becomes member or nominee of 2 or more than 2 OPC’s then he has to withdraw his membership from the OPC within 182 days.
3) In how many One Person Companies can a person become a nominee?
A person can become a nominee in not more than 1 One Person Company.
4) Can a One Person Company be converted into a Section 8 company or any other company?
No. One Person Company cannot be converted into a Section 8 company. Further, One Person Company cannot be voluntarily converted into any other kind of company until the cooling period of 2 years is completed from the date of incorporation.
5) Who all are disqualified to form an One Person Company?
Following persona are disqualified to form an One Person Company:
• A minor.
• A foreign citizen.
• A person incapacitate to contract.
• Any other person apart from living person.
6) Can a One Person Company engage in any form of business activities?
An One Person Company can engage in any sort of business activities apart from Non Banking Financial Investment Activities including “investment” in securities of body corporates.
7) What is the process of appointing a nominee for the One Person Company?
The name of the nominee should be included in the Memorandum of Association of the One Person Company. The sole member of the One Person Company will have to obtain a written consent from the nominee in Form INC. 3. This Form has to be submitted to the ROC alongwith Form INC.2 during its incorporation.
8) What will happen in case of death of the sole member of the One Person Company?
In case the sole member of the One Person Company dies or is incapacitate by any disability, the nominee will assume the position of the member. Within 15 days of becoming the member, he will have to appoint a nominee for the One Person Company and intimate the ROC in Form INC.4 (alongwith Form INC. 3) within 30days of change in membership.
9) Is a One Person Company required to hold a Board Meeting?
A One Person Company is required to hold a Board Meeting, if the numbers of directors are more than one. It will be deemed to have complied with the provisions relating to Board Meetings, if at least one meeting is conducted in each half of the calendar year. However, the gap between the two meetings should not be less than ninety (90) days.
Step1:- Receive free expert counseling on OPC Registration
Step2:- Pay 50% of the payment
Step3:- Submit the required documents self attested. Application process will start within 24 hours.
Step4:- Pay rest of the 50% payment at the time of execution &final submission of documents
Click on apply now and get OPC registration done in trouble-free manner!!
|Packages Starting from||INR 11,499/-[ All inclusive ]|
Register a One Person Company with DIN, DSC, company name approval, consent of nominee, all requisite documents and final incorporation certificate just within 23* days. LexOracle provides an affordable and all-inclusive OPC registration package starting from JUST INR 11,499/-
Contact right now for free Consultation
Prices are inclusive of Taxes.
*Time period quoted is tentative and approximate
LexOracle is one-stop solution provider for any business entity, person or entrepreneur seeking for experienced lawyers or attorney, charted accountant and company secretary. Customer satisfaction, transparency in work and affordable cost has made us the leader of business incorporation, registration and legal services or support in India.