Diligence Certifications streamlines the One-Person Company (OPC) registration process, ensuring compliance with all legal and regulatory requirements. Our expert team assists you in navigating the necessary documentation and formalities, making the incorporation process smooth and efficient. With our support, you can establish your business with confidence, enjoy limited liability benefits, and unlock opportunities for growth as a sole entrepreneur.
An OPC is, by definition, a company that is owned and managed by one man, call him the solo entrepreneur, who, for good measure, gets the benefits of being a company-such as limited liability (that is, personal assets not being subjected to business debts). It is the simplest of entities to bring about fairly easy business registration without even considering partners and lots of complicated paperwork. So if you’re a lone wolf with business dreams, then an OPC is just for you!
An OPC or One Person Company in India has benefits similar to a private limited company, but here, the company may have only one shareholder. Nominee director is required for registration and the sole member must be Indian citizen and resident. The entire process includes applying for a Digital Signature Certificate (DSC) and the DIN, name approval afterwards, and then finally incorporation documents are submitted to the Registrar of Companies (ROC).
Step 1 : Get DSC: Digital Signature Certificate
The first step in this entire procedure is obtaining the Digital Signature Certificate, which is compulsory to electronically file any document with the Ministry of Corporate Affairs (MCA).
Step 2 : Apply for DIN
The next step is obtaining a Director Identification Number, which is needed by every single director of the company.
Step 3: Name Reservation
The name should be given by the owner to the OPC, and this name has to be approved by the MCA. This aims to ensure that the name is not identical to any other existing company.
Step 4: Filing the Incorporation Documents
After a name has been confirmed, it has to be paired with required incorporation documents to be filed with the MCA. These include the Memorandum of Association (MoA) and the Articles of Association (AoA).
Step 5: Certificate of Incorporation Obtain
After such filing of documents above, on successful submission of the MCA, a Certificate of Incorporation is issued by it which formalizes the OPC.
Obtaining a “Diligence Certificate” in reality is a very essential step in setting up your One Person Company (OPC). Think of it like a stamp of approval for compliance with all rules and laws. This increases trust in you and proves that you are sincere with running your business honestly. It is really great when you are applying for funds or collaborating with other businesses to assure them that you are trustworthy and open with your methods.
One Person Company (OPC) is a peculiar form of private limited company where a solitary entrepreneur works with minimal liability while enjoying the status of a corporate entity. This is for independent businessmen who do not wish to depend on other co-partners to obtain legal recognition in the ambit of a company.
For applying for registration as OPC, a person must:
An Indian National and resident in India.
Shall not be a nominee of more than one OPC at any time.
Have a nominee (who will become a nominee in case of incapacity or demise).
Diligence Certifications uses all efforts to smoothen the registration process through: Obtain Digital Signature Certificate (DSC)-For Online Filing. Apply for Director Identification Number (DIN)-A Unique identification No. for the director. Name Reservation (RUN Application)-choice of a unique company name. Filing SPICe+D Form with MCA-submit incorporation documents. 5. Draft MOA & AOA-define company objectives and regulations. 6. Certificate of Incorporation Issued-Business officially registered!
Generally, the timeline for registration of OPC varies from 7 to 10 working days concerning document verification and the time taken by the government to process the application. Diligence Certifications promises a very quick and smooth experience.
The fees charged, which are status dependent, include the government's fees and professional fees, which vary with the state of the client. For a fully open business-related estimate about your specific needs, reach Diligence Certifications.
Yes, an OPC may willfully change into a Private Limited Company after the statutory period of two years from incorporation or may mandatorily change if its turnover exceeds ₹2 crore or paid-up capital exceeds ₹50 lakh.
Of course! An OPC may engage employees like any other business; however, it shall not have more than one director/member unless it converts to a Private Limited Company.
The Diligence Certifications was created with the primary objective of providing compliance services in India and globally, by assisting in the implementation of business to ensure compliance requirements – all requirements in one place.
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