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For those of you who are serious about having more, doing more, giving more and being more, success is achievable with some.
What is OPC registration?
Company’s Act 2013 introduced a new concept in India called One Person Company. One Person Company in India is legally registered by single person.
Before the compliance of the companies act 2013 a single person was not able to establish a company. The features of the company and the benefits of a solo proprietorship is given to an OPC.
The person who has a sole proprietorship he or she only can establish a business. Only one director and 1 member is required as per the section 2(62) of companies act 2013.
In India very less rules are required for a one-person company registration than a private Limited Company. The director and member can be the same person or individual and that person can be a resident or non-resident Indian for OPC registration.
Required documents for OPC Registration
- PAN Card
- Passport
- oter ID Card
OPC Registrations FAQ’s
1. What is the role of the nominee in an OPC?
In case of promoter’s death or incapacitation a nominee is a person or individual who can become member of the company.
2. What is the authorized capital fee?
A company is required to pay the Government authorized capital fee which is the number of shares this number of share then company can issue to the shareholders.
3. How to speed up the incorporation process?
If you have all the required documents handy and the name which you chose is unique then it will give your process a speed to complete.
4. What is a dormant company?
The company hasn’t started its business within one year of its incorporation. The company hasn’t been starting any activity for the preceding such company can be stuck off after some time. A stuck company can be revived for a period of 20 years.
5. What is DSC?
While filing the document online, the identity which has been established is DSC.in some cases digital signature is mandatory in some of the application.
6. what is the director identification number?
It is the Unique identification which is given to all the e existing directors of company and also to the proposed directors. The DIN number has no expiry date and you can have only one DIN.
7. is a Private Limited Company better than OPC?
In this case if you are starting as an entrepreneur then OPC is for you and if you are looking to start with more than one person then go for Private Limited Company
8. Is Audit compulsory for OPC?
Yes, audit is Mandatory to submit a Statutory report and for all this company needs to appoint a CA.
9. Is GST mandatory for OPC?
Regardless of annual turnover if the person is suppling goods to other state, then GST registration for that person is necessary.
10. Can OPC raise funds?
Yes, it can raise funds by converting in to private Limited Company or through venture capital.