Procedure for One Person Company Registration

 

 Procedure for One Person Company Registration

Let’s discuss the One Person Company Registration Procedure! One Person Company is a start-up which has only one founder!

A major benefit of One Person Company, is only one member is required for firm registration whereas a minimum of two persons are required for Private Limited Company Registration or Limited Liability Partnership. Since one person company  is a separate legal entity, it ensures protection to owner by limiting his liability so he can easily enjoy limited liability feature also.

Requirements for the One Person Company:

• One Shareholder
• One Nominee
• One Director

Steps for One Person Company Registration:

1. Apply for the Digital Signature of the Directors, to file e forms for the one person company registration.
2. Apply for the DIN ( Director Identification Number)
3. Apply for the Name approval on the MCA Portal according to MCA Guidelines.
4. Filings E-Forms with ROC and payment of ROC Fees after the Name Approval from Officers.
5. Issued Certification of Incorporation
6. Apply for the PAN Number and open a current bank account on the name of one Person Company.

Documents Required:

1. PAN Number of the Director
2. Address Proof of the Director as Adhaar card or driving license or any other as passport.
3. Business Place ownership proof such as electricity bills or an rent agreement

What are the advantages of an OPC?

Budding entrepreneurs can greatly benefit from registering their business as a One Person Company Private Limited. Here’s how

1.      Legal stamp of recognition – Legally registering the company increases the authenticity of the brand. Customers and potential clients will find it easier to trust your work!

 

2.      Personal and business assets – Let’s face it, starting something of your own comes with the risk of failure; expect the best, but prepare for the worst. Under the liability protection clause, any financial loss or debt your business faces will not need to be cleared against your personal assets.

 

3.      You are your own boss – You can avoid the hassles which accompany any partnerships! No egos and not answerable to anyone are the perks of One Person Company.

 

4.      No protocols – An OPC is exempt from protocol that is usually enforced on other registered companies.

 

5.      Banks support – It is much easier for OPCs to get loans, compared to individuals or proprietary firms. Also, there are several tax benefits in having a registered OPC.

 

If someone is looking to test a new business model, OPC is an ideal opportunity for you! Once the company grows and becomes successful, you can convert it to a multi shareholder private limited company.

 

Numbro aids in the smooth registration of your OPC!

 

For more details visit at www.numbro.in