BENEFITS OF ONE PERSON COMPANY REGISTRATION
ADVANTAGES OF OPC COMPANY REGISTRATION
STATUS
A separate legal entity means the company registration is treated as a separate entity from the directors and shareholders and thus continues to exist even after the changes in the management structure. An OPC company registration enjoys the status of a Separate Legal Entity.
LIMITED LIABILITY
Limited Liability means the directors or shareholders are not personally liable for the losses incurred in the company. The liability of a member is limited to his/her shares only. Hence, the creditors can only sue the One Person Company not its member or director.
FAST OPC COMPANY REGISTRATION ONLINE
Since, an OPC Company registration process is 100% online and can be completed with only one director/member and one nominee, the incorporation time is quite less.
FEW ANNUAL COMPLIANCES
As per the Companies Act 2013, a one person company is exempted from certain compliances that are mandatory for other business structures. Cash Flow Statement is not required. Instead of Company Secretary, the director can sign the books of accounts and annual returns.
EASY FUNDS AVAILABILITY
Since an OPC Company registration structure is similar to a Private Limited Company, hence it is quite easy to raise funds via Venture Capitals, Angel Investors, Incubators, etc.
SMOOTH MANAGEMENT
Since there is an involvement of single decision taking authority in an OPC Company registration, the decision making process is quick, and the ordinary & special resolutions can be passed by his/her without taking consent from others. Hence,
PERPETUAL SUCCESSION
For One Person Company Registration online in India, a nominee is required apart from the Director/member. This provision was incorporated so that incase of any mishappening with the Director, the company can continue to run giving authority to the nominee. This ensures the perpetual or continual existence of an OPC Company.
ONE PERSON COMPANY REGISTRATION PROCESS
Online registration of One Person Company can be a tricky task as there are several forms and rules associated with it. RELAX!! Biz excel Solution has got your back. Let our experts handle the one person company registration process online and get it done within 7 working days. Let us now look at the steps involved in the OPC company registration process:
1. FORMATION OF DIGITAL SIGNATURE (DSC)
The first step towards OPC company registration process is the DSC registration (Digital Signature Certificate) of the proposed director. This process takes 1 day for completion.
2. FILING APPLICATION FOR DIRECTOR'S DIN
The next step for one person company registration process is the allotment of Director Identification Number (DIN) which is a unique number of identity for Director of a company.
3. CHOOSING UNIQUE NAME FOR YOUR ONE PERSON COMPANY
While applying for the DSC, our team of experts will help you choose a unique name for your OPC Company registration. The name must comply with the MCA norms i.e., XYZ (OPC) Private Limited.
4. PREPARING FORMS AND APPOINTING NOMINEE
After choosing your OPC Company name, we will now start with the documents and e-forms preparation mentioning the objectives & other information related to your company. We will then send these documents to you for cross-verification and signing from Director & the appointed nominee.
5. FILING E-FORMS WITH MCA
Once the document verification is complete, our experts will file and submit these e-forms on the MCA portal and submit the OPC company registration fees.
6. ALLOTMENT OF COI, PAN & TAN
After getting the approval from the department, it will issue your company’s COI, PAN & TAN. Your OPC company registration details will now be visible on the MCA portal. After receiving the documents, you can now open your company’s bank account and start its operations
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