Register Your OPC With SPSI
Are you starting a business on your own and want to limit your liability? You should register as an OPC. Pay just ₹799/- to get started and pay the rest conveniently after the procedure begins. Enjoy simple processing, fast updates, and, best of all, no hidden fees.
*Govt.fees & taxes vary by state and are not included in the price.
One Person Company Registration With SPSI
SPSI helps you register your one person company in India in 3 simple steps.
Step 1
We reserve the name of your company and help you obtain a DSC and DIN.
Step 2
We draft and file the documents required for your OPC registration (MoA, AoA, PAN, & TAN).
Step 3
We help you with the post-registration formalities and compliances.
Overview
An Overview:
The structure of the one person company (OPC) in recent times was launched as a refinement of the structure of a sole proprietorship firm. In an OPC, a single promoter gains full authority over the company thereby, restricting his/her liability towards their contributions to the enterprise. Therefore, the said person will be the sole shareholder and director (however, a director nominee is present, but has zero power until the real director proves incapable of carrying on). Also, there can be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC has an average turnover of ₹2 crores thrice in a row and over or acquires a paid-up fund of ₹50 lakh and over, it has to be converted to a private limited company or public limited company within six months.
Benefits of OPC
Registration
Benefits of OPC Registration
Limited Liability
The directors’ personal property is always safe in a private limited company, no matter the debts of the business.
Continuous Existence
Sole Proprietorships come to an end with the death of the proprietor. As an OPC company has a separate legal identity, it would pass on to the nominee director and, therefore, continue to exist.
Greater Credibility
As an OPC needs to have its books audited annually, it has greater credibility among vendors and lending institutions.
Documents Required
Documents Required for OPC Registration
- PAN card or passport
- Passport, for NRIs and foreign nationals
- Scanned transcript of driver’s license or voter’s ID
- Updated gas or electricity invoice/bank account statement/mobile or landline phone invoice
- Specimen signature or impression
- Passport-size photo.
Please Note: The OPC director must self-attest to the first three documents. All paperwork for a foreign citizen or NRI must be notarised (if they are currently residing in India or a non-commonwealth country) or apostilled (if living in a commonwealth country at present).
Documents Necessary for the Registered Office
- Scanned transcript of current bank account statement/phone or mobile invoice/gas or electricity invoice
- Scanned transcript of rental agreement written in the English language
- Scanned transcript of a no-objection certificate from the concerned property landowner
- Scanned transcript of property or sale deed printed in English (if the property is owned).
Note: Your registered office space needs to be a commercial premises; however, it can be the sole director’s place of residence as well.
Process for One Person Company Incorporation
Step 1: Check eligibility and documents
Step 2: Apply for DSC & DIN of all the directors
Step 3: Application for name reservation
Step 4: File Spice+ form for company incorporation
Step 5: Apply PAN and TAN for your new company
Step 6: RoC issues a certificate of incorporation with a PAN and TAN
Step 7: Open bank account and start operation.
Process for OPC
Package Inclusion
- Directors identification number for 1 director
- sDigital signature certificate for 1 director (If the shareholders are different from directors, then additional DSC is required for shareholders)
- sGuidance for choosing the company name
- sPAN and TAN
- sDrafting the memorandum & articles of association, RoC filing fees for an authorized capital, government stamp duty, and certificate of incorporation
- sName approval certificate
- sGST registration
- sPF registration
- sESI registration
- sPT registration (only applicable in Maharashtra)
- sDBS or ICICI zero balance current account.
Why SPSI?
Why SPSI?
- For your one person company, we submit an application for name approval
- We draft the MoA (Memorandum of Association) and AoA (Articles of Association)
- We file the incorporation documents with the MCA for you. The PAN and TAN are allocated simultaneously
- We will keep you informed about the status of your OPC Registration.
FAQs
FAQs on Register Your OPC With SPSI
OPC company registration can be done only by Indian residents, and that too only one at a time, as per the specifications of the Ministry of Corporate Affairs.
All such businesses must maintain books of accounts, comply with statutory audit requirements and submit income tax returns and annual filings with the RoC.
There is no difference in capital requirement between an OPC and a private limited company. It needs an authorised capital of ₹1 lakh to begin with, but none of this actually needs to be paid-up. This means that you don’t really need to invest any money into the business.
No general advantages; though some industry-specific advantages are available. Tax is to be paid at a flat rate of 30% on profits, Dividend distribution tax applies, as does minimum alternate tax.
The cost of an OPC is only marginally lower than that of a private limited company. You’ll be shelling out around ₹12,000 to incorporate, then paying around ₹15,000 a year in compliance fees and an auditor to inspect your books.
An OPC has certain limitations. The person starting the business is its only director and shareholder. There is also a nominee director, but this person has no power whatsoever for raising equity funds or offering employee stock options. The nominee exists only to take over in case of the death or incapacitation of the director. The nominee is chosen by the director, and can be anyone, such as your spouse, parents or siblings. The nominee will need to provide identity proof during registration.
No, an individual can form only one OPC at a time. This rule applies to the nominee in an OPC, too.
The Glossary
The Glossary
Business Corporation Act
A business corporation act is the collection of laws in each state that governs corporations.
Certificate of Incorporation
The title of the document filed in many states to create a corporation. Also known as the articles of incorporation or corporate charter.
Directors
The individuals who, acting as a group known as the board of directors, manage the business and affairs of a corporation.
Limited Liability
Liability (as a stockholder or shipowner) limited by statute or treaty.
Name Reservation
A procedure that allows a corporation to obtain exclusive use of a corporate name for a specified period of time.
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