One Person Company


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One Person Company

Companies Act, 2013 introduced this much awaited concept of One Person Company in India. One Person Company is ideal for those entrepreneurs who are confident that they can run their business alone but want status of a Private Limited Company. A One Person Company therefore enjoys status of a Private Limited Company but have separate legal entity, perpetual succession and transferability of business.

For incorporation of One Person Company there has to be a nominee Director. Nominee director is nominated in the Memorandum and Articles of Association and becomes owner of the OPC if the promoter is deceased. By nominating a director One Person Company ensures its perpetual succession. One Person Company is required to file its Annual Returns with the MCA every year. If turnover of One Person Company exceeds Rs. 2 crores in any Financial Year, it has to convert itself to a Private Limited Company.

One Person Company

Separate Legal Entity : A One Person Company when incorporated is considered as artificial judicial person. It is a separate judicial entity. A One Person Company can purchase its assets and borrow own funds as a separate judicial entity. The Share Holder of Company is liable for company’s debts only to the extent of shares held by them.

Perpetual Succession : At the time of incorporation of One Person Company, promoter member has to designate a nominee. In the event of death of the member, nominee becomes member and runs business. Thus One Person Company gets benefit of perpetual succession through nominee.

Transferability : Transfer of shares of One Person Company can be done easily by signing share transfer forms and handing over the Share Certificates.

Ownership of Property : Being an artificial judicial person One Person Company can buy property in its name. The One Person Company becomes the owner of the property and share holders cannot claim this property.

Limited Liability : This is probably the most important advantage of a One Person Company. Member of a One Person Company is liable only to the extent of the unpaid amounts of shares held by them. Personal assets of member cannot be liquidated if company defaults.

Capacity to sue and be sued : A One Person Company is an artificial judicial person. Just as an individual initiates legal proceedings against another person, a One Person Company can also initiate legal proceedings against another person or Company.

One Person Company

Basic
13999
  • 2 DSC

  • 2 DIN

  • Company Name

  • Incorporation Fees

  • Stamp Duty

  • Authorised Capital Rs. 1 lakh. Company PAN & TAN

  • All Incluive

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  • --

  • --

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STANDARD
15999
  • 2 DSC

  • 2 DIN

  • Company Name

  • Incorporation Fees

  • Stamp Duty

  • Authorised Capital Rs. 1 lakh

  • Company PAN & TAN

  • GST Registration

  • Free MSME Registration

  • All Incluive

  • --

PREMIUM
19999
  • 2 DSC

  • 2 DIN

  • Company Name

  • Incorporation Fees

  • Stamp Duty

  • Authorised Capital Rs. 1 lakh

  • Company PAN & TAN

  • GST Registration

  • GST compliance for first 3 months

  • Free MSME Registration

  • All Incluive

Process

01

Obtain DSC

Obtaining Digital Signature Certificate (DSC) is the first step towards Company Registration. It take 2 days to obtain DSC

02

Apply for DIN

Directors Identificateion Number (DIN) is to be applied for the proposed Director of the Company. It takes 1 day to get DIN Approval

03

Name Approval

Maximum six names can be applied in order of preference. It takes 3-4 days for Name Approval subject to availability of name.

04

Incorporation

Company Registration documents are submitted to the MCA for approval in SPICe forms. PAN and TAN are also applied with application.




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