ONE PERSON COMPANY (OPC) REGISTRATION-

What is a One Person Company (OPC) Registration/Formation?

A sole proprietorship or Proprietorship Company is a business structure where a single individual owns, manages, and controls the business operations. It is a prevalent form of business in India, particularly among small enterprises operating in the unorganized sectors.

Why to Register One Person Company (OPC)?

Registering as a One Person Company (OPC) brings several benefits:

• Limited Liability Protection: OPC registration safeguards the personal assets of the director. In case of business insolvency, only the investment in the company is at risk, protecting the director’s personal assets.
• Ease in Fundraising: OPCs find it easier to raise funds or obtain loans compared to other business structures due to its corporate status, allowing smoother access to capital.
• Enhanced Credibility: OPCs, being a form of private limited company, enjoy a better reputation and credibility in the market, which appeals to corporate clients, vendors, and government agencies.
• Business Model Testing and Funding: OPC formation assists entrepreneurs in testing their business model. Upon successful validation, it becomes easier to attract investors for funding. Transitioning to a multi-shareholder Private Limited Company becomes seamless.
• Single Owner Control:  OPCs allow the sole owner to maintain complete control of the company’s decisions, facilitating quick decision-making and implementation while permitting the appointment of up to 15 directors for administrative functions without assigning shares.

Required Documents for One Person Company (OPC) Company Registration.

• Director PAN Card
• Director Passport size Photograph
• Director Aadhar card /Voter ID/ Passport/ Driving License.
• Director’s Latest Telephone Bill /Electricity Bill/ Bank Account Statement.
• Latest Electricity Bill/ Telephone Bill of the registered office address

Note:

In case of NRI or Foreign National, documents of director (s) must be notarized or apostilled

How Maske Brothers Consultancy helps to register and maintain compliance of One Person Company (OPC)?

Maske Brothers Consultancy specializes in streamlining the process of registering and ensuring compliance for One Person Companies (OPCs). Here’s how we assist:

• Registration Guidance: We guide clients through the entire OPC registration process, ensuring all necessary documentation and formalities are completed accurately and efficiently.
• Compliance Management: We assist in maintaining ongoing compliance with regulatory authorities. This includes filing necessary documents with the Registrar of Companies (ROC) and ensuring adherence to statutory requirements.
• Legal Advisory Services: Our consultancy provides legal advice and assistance in understanding and fulfilling regulatory obligations, keeping the OPC compliant with evolving legal frameworks.
• Documentation Support: We help in preparing and managing the required documentation, ensuring it meets the standards and requirements set by the authorities.
• Annual Compliance Filing: We oversee the timely submission of annual filings and other necessary reports to the ROC, ensuring that the OPC remains compliant with all legal obligations.
• Efficient Management: Our services aim to simplify the administrative burden, allowing business owners to focus on operations while ensuring that their OPC complies with all legal and regulatory aspects.

What includes in Maske Brothers OPC Registration Package?

• Digital Signature Certificate (DSC): Obtain DSC for the proposed director of the OPC.
• Director Identification Number (DIN): Apply for DIN for the director of the company.
• Name Reservation: Apply for approval of a one unique company name through the Registrar of Companies (ROC).
• MoA and AoA Drafting: Prepare Memorandum of Association (MoA) and Articles of Association (AoA) outlining company objectives and operational guidelines.
• Incorporation Application: Prepare and file incorporation forms along with necessary documents to the ROC.
• Fee Payment: Pay the prescribed fees for registration and other applicable charges to the ROC according to Rs. 50,00 Capital.
• Certificate of Incorporation: Upon approval, ROC issues the Certificate of Incorporation, establishing the OPC as a legal entity.
• PAN and TAN Application: Apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the OPC.
• Bank Account Opening: Open a bank account in the OPC’s name and deposit the minimum required capital.
• EPF/ESIC Registration: Voluntary registration of EPF and ESIC registration (Charges may applicable for registration and monthly filling separately)
• Compliance Obligations: Follow-up on compliance with ROC regulations, including annual filings, board meetings, and financial statement submissions.