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OPC Company Registration
All you need to know
One person company (OPC) in India is one of the easiest forms of corporate entities to manage. OPC is a hybrid of Sole-Proprietorship and Corporate form of business. It has been provided with various concessions in compliance requirements under the Companies Act. It is a form of a company where the compliance requirements are lesser than a private company. OPC registration is very easy and cheap process.
OPC Registration opens up new business opportunities for sole proprietors and entrepreneurs who also wish to enjoy the advantages of limited liability, and a separate legal entity as well. OPC does away the hassles of finding the right partner for starting a business as the registered entity. It requires only one person who will act as a member, shareholder, and director.
One Person Company (OPC) registration fees:
Government fees for registering a One Person Company (OPC) in India depends on the nominal Share Capital of the company. For e.g. The Government fees for the OPC registration whose Share Capital is 10,00,000 the Government fees would be 2,000/- rupees. Whereas if nominal share capital ranges between Rs. 10,00,000 to Rs. 50,00,000 – Rs 2,000. Rs. 200 will be added for every Rs. 10,000 or part thereof of nominal share capital.
However, there would be additional costs such as DIN application fees, stamp duties, form filing fees as well for OPC Incorporation in India.
Do not miss filing Form 20A once you have registered your OPC !
Also Check: OPC Annual Compliances
Thinkbiz filings. is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. OPC Registration is online, easy, seamless, cheapest and quickest with thinkbiz filing. .com! Apart from a One Person Company registration, thinkbiz filing. .com also helps entrepreneurs with Private Limited Company Registration, Public Limited Company Registration, Partnership Registration, HUF, LLP Incorporation and Proprietorship Firm Registration easily. We also provide Secretarial Compliance Services at thinkbiz filing. You may get in touch with our compliance manager on 09704561215or email info@Thinkbizfilings.com for free consultation.
One Person Company (OPC) Registration Fees
Choose Your Package
Our Pricing
BASIC
- 2 Digital Signature Certificates
- 2 Director Identification Numbers
- 1 Name Approval Application
- Stamp duty on INR 1 Lakh Authorized Capital
- Company Incorporation using SPICe+
- Copy of e-MOA & e-AOA
- e-PAN, e-TAN
- ESIC & EPF Registration through SPICe Plus
- Bank Account opening (feature) through SPICe Plus
Our Pricing
OPTIMAL
- 2 Digital Signature Certificates
- 2 Director Identification Numbers
- 1 Name Approval Application
- Stamp duty on INR 1 Lakh Authorized Capital
- Company Incorporation using SPICe+
- Copy of e-MOA & e-AOA
- e-PAN,e-TAN
- ESIC & EPF Registration through SPICe Plus
- Bank Account opening (feature) through SPICe Plus
- GST Registration,INC-20A Filing, Appointment of 1st Auditor
Our Pricing
ULTIMATE
- 2 Digital Signature Certificates
- 2 Director Identification Numbers
- 1 Name Approval Application
- Stamp duty on INR 1 Lakh Authorized Capital
- Company Incorporation using SPICe+
- Copy of e-MOA & e-AOA
- e-PAN,e-TAN
- ESIC & EPF Registration through SPICe Plus
- GST Registration,INC-20A Filing,Appointment of 1st Auditor
- Form AOC -4 (Form for filing financial statement and other documents with the Registrar)
- Form MGT -7 (Form for filing annual return by a company)
All you should know about necessary compliances
All you should know about necessary compliances
GST Registration
Every One Person company is required to get their GST Registration within 30 days of business incorporation in India Under Goods & Service Tax Act. GST Registration is needed when the turnover is more than INR 40 lakhs or INR 20 lakhs in Special category states or If the One Person Company supplies goods intra-state or Provides goods and services online.
GST Return
Once a One Person Company gets registered under GST, it becomes necessary to file GST returns for Private Limited Company. As filing of GST returns is mandatory for all the registered Taxpayers including companies. GST returns can be filed monthly, quarterly or yearly depending upon the types of GST returns form you are filing.
Accounting
Every One Person company shall maintain proper books of accounts which shall represent an accurate and fair view of the state of affairs of the company. Accounting is necessary for the statutory audit, Annual filing and IT return filing which is mandatory once you start your Company. These books of accounts shall be audited by the auditor appointed by the company.
Statutory Audit
Every One Person Company registered under the Companies Act, 2013, irrespective of its sales turnover or nature of business or capital must have its book of accounts audited each financial year. Thus, the Board of Directors of a One Person Company are required by law to appoint an Auditor within 30 days of incorporation of the company and thereafter conduct an audit of its financial statements each FY.
MAT Audit
It is mandatory for the One Person Company to get their accounts audited under MAT i.e. Minimum Alternate Tax. The objective of the introduction of MAT was to bring into the tax net “zero tax companies” which in spite of having earned substantial book profits and having paid handsome dividends, do not pay any tax due to various tax concessions and incentives provided under the Income-tax Law.
Income Tax Audit
Irrespective of turnover every One Person Company requires to get the tax audits under section 44AB done. The Tax audit under section 44AB aims to ascertain the compliance of various provisions of the Income-tax Law and the fulfillment of other requirements of the Income-tax Law. The tax audit limit under section 44AB is INR 1 Crores (5 crores where at least 95 percent turnover is made on digital transactions)
ROC Annual filing
A One Person Company is mandatorily required to file 3 forms every year. Filing has to be done regarding submission of documents of financial statement, i.e. balance sheet, P&L account in ROC form AOC 4 and annual return in ROC form MGT-7. Company report about auditor’s appointment to ROC in Form ADT 1. Know more: ROC annual filing
IEC Registration
All the One Person Company which are engaged in Import and Export of goods require to register the Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.
TM Registration
Registering a One Person Company with a name does not provide complete protection to the name or brand name. Ultimate protection for a business name is secured only by Trademark Registration of same. By trademark registration, you may get the ownership of your One Person Company’s name or brand name or logo etc.
Documents Required for One Person Company (OPC) Registration Process
Points to make your decision easy
Fund Raising
A Private Limited Company in India is the only form of business except Public Limited Companies that can raise funds from the Venture Capitalists or Angel investors.
FDI Allowed
In private Limited Company, 100% Foreign Direct Investment is allowed that means any foreign entity or foreign person can directly invest in a Private Limited Company.
Builds Credibility
The particulars of the company are available on a public database. Which improves the credibility of the company as it makes it easy to authenticate the details.
No Minimum Capital
No minimum capital is required to form a Private Limited Company. A Private Limited Company can be registered with a mere sum of Rs. 10,000 as total Authorized Share capital.
Separate Legal Entity
A Pvt Ltd Co. is a separate legal identity in the court of the law, meaning assets and liabilities of the business are not same as the assets and liabilities of the directors. Both are counted as different.
Limited Liability
If the company undergoes financial distress because of whatsoever reasons, the personal assets of members will not be used to pay the debts of the Company as the Liability of the person is limited.
How to Incorporate Private Limited Company
How to Incorporate Private Limited Company
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Fill Simple Checklist
All you need is Aadhar and PAN card to get started. You can choose any name of your choice. However, this should not be an existing name in the Trademark Registry. Based on your documents and discussion with you, our experts will guide you as to what registrations to obtain.
Name Approval
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
Registration
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
Get answers to all your queries
- A Private Limited Company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. But if you are a sole owner, you can incorporate an OPC as well.
- Pvt. Ltd. Co. and LLP have a lot of similarities yet they both are different in many of its characteristics and structures. When you wish to start your business, there are many factors that one needs to think upon before selecting any business structures. However, before selecting any business structure, you may refer LLP vs Pvt Ltd- A comparison between two important forms of organisation in India
- It generally takes 8-10 working days to register Private Limited Company in India. The time taken for registration totally depends on the submission of relevant documents by the client and the speed of Government Approvals. To ensure quick and speedy registration, choose a unique name for your Company. The registration fees for the incorporation is inclusive in the package offered to you.
- There exists no bar on turnover or capital in private Limited Company unlike One person Company.
- Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe plus), with eMoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.
- Minimum two directors are required to incorporate a private limited company. Companies Act, 2013, has introduced the concept of One Person Company (OPC) private limited, in which a single individual can start a private limited company. Thus, if you plan to incorporate OPC, you can incorporate it with only one director.
- The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of the proposed Company. Digital Signature application is to be filed to get a DSC.
- Yes, a Foreign National or an NRI can become a Director of a Private Limited Company in India after obtaining Director Identification Number (DIN). However, it may be noted that at least one Director on the Board of Directors must be a Resident India.
- Thinkbizfilings provides Proprietorship Registration all across India. You can obtain Proprietorship registration in Hyderabad, Vijayawada,Pune, Bangalore, Chennai, Delhi, Kolkata, or any other cities easily with us.
- Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@thinkbizfiling.com or call us @+91 970 456 1215