One Person Company (OPC) Registration in Bangalore
TaxadvisorIndia: We are One Person Company (OPC) Registration Consultants in Bangalore.
In One Person Company (OPC) company formation, a single member can act both as a shareholder and director of the company. The company is solely started and controlled by one person. It is a welcome move to spearhead the Startup movement in India as it eliminates unnecessary hurdles in the formation of a company.
The OPC firm has characteristics of a traditional proprietorship firm where a single member owns, controls and manage the affairs of the company. As per the Company Law guidelines, a OPC company shall be converted into a private limited company within six months upon reaching average three year turnover of 2 crore rupees, or when the paid capital of the company is increased to above 50 lakhs.
The One Person Company (OPC) is a new and a great initiative by Govt. of India based on the Companies Act 2o13. It strengthened the formation of start-ups by entrepreneurs. While the OPC company provides a single member total control over the company affairs, but it also limits the promoter’s liabilities to the business.
There are several advantages for entrepreneurs in going for an OPC company, but with one disadvantage that there’s a restriction in increasing equity funding and offering employee stock options.
Advantages of One Person Company Registration
- Separate Legal Entity
- Uninterrupted Existence
- Borrowing Capacity
- Easy Transferability
- Owning Property
- Limited Liability
- Capacity to Sue and to be Sued
Process for Registering One Person Company in Bengaluru
TaxAdvisorIndia can incorporate a One Person Company in 14 to 20 days, subject to ROC processing time.
- Obtaining Digital Signature Certificate (DSC) & Director Identification Number (DIN)
- Name Approval
- OPC Incorporation
Minimum Requirements for One Person Company Incorporation
- Minimum One Person
- Minimum Capital shall be Rs. 100,000
- DIN for the opc person
- Digital Signature for one person
- Consent From the owner & nominee
- Proof of Registered Address
- NOC from the owner of premises
Document Requirements for One Person Company Registration
- Latest Color Photo of the one person
- Pan Card of the one person
- Address Proof of the one person, In case Premises is taken on Rent / Lease (Rent agreement will also be required).
- Signature on the DSC Form
- Signature on Affidavit for DIN
- Signature on Consent form
- Signature on Subscriber Sheet