Why register One Person Company? We’ll Tell You!
• It is a company which has only one share holder.
• It can operate with a minimum of one director.
• OPC concept allows sole proprietors to carry out business under the company structure.
• OPC shall be treated as a private company for all legal purposes.
• The Sole Shareholder can name a Nominee to ensure succession of business.
• Very relaxed compliance requirements.
• Reporting requirements with the Registrar of Companies is also less.
• Registration formalities are simple.
What all are the pre requisites for registering your OPC?
• You should be an Indian Citizen resident in India.
• You should possess a Valid Director Identification Number.
• One person will not be allowed to form more than one OPC.
• Minimum Capital requirements is one Lakh rupees.
• You should propose a person as your nominee.
• Prior consent of nominee in written should be obtained.
What all are the documents needed for registering OPC?
• Two Passport Size photograph.
• PAN Card.
• Proof of Identity (Passport/AadharCard/Driving Licence/Voters ID).
• Proof of Residence (Bank Statement/Electricity Bill/Telephone Bill/Mobile Bill).
• Memorandum of Association.
• Articles of Association.
• Declaration that all the requirements of this Act have been complied with.
• Affidavits from promoters and proposed Directors.
• Proof of Registered Office (Electricity Bill/Property Tax Bill/Telephone Bill/Bank Statement).