What’s Included?
* Effective 15th July, 2024, DSC charges have increased by ₹ 1,000 per DSC, by the Government. This will be chargeable over and above the given prices.
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One Person Company (OPC) involves the features of a Private Limited Company and the benefits of Sole Proprietorship. An OPC provides limited liability protection with fewer compliance requirements.
It requires only one Director and one Nominee for successful formation. It is designed to cater to entrepreneurs and business owners where a single individual owns, operates, and manages the entire business.
Sample Documents
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Even though there are fewer compliances, fulfilling the provisional requirements of such incorporation is mandatory.
An OPC is required to have at least one Director (shareholder) and can appoint a maximum of 15 Directors. If you wish to exceed this maximum limit, you must formally file a resolution to increase the number of directors allowed.
During OPC Registration, it is mandatory to appoint a nominee.
These mentioned compliances are just a starting point, and there may be additional requirements specific to your business. Always keep yourself informed about relevant compliances to ensure a hassle-free business operation.
Minimum Capital Requirement
No minimum paid-up capital requirement exists for registering a One Person Company (OPC) in India. However, the minimum authorized capital required is Rs. 1,00,000 (One Lakh).
*As a One-person company has one shareholder, the shareholder has to have at least one share. So, the paid-up capital of the company is at least Rs 1. This is subject to the requirement of the current account.
Tax Rates
The applicable Tax rate to the OPC would be 30% plus cess and surcharge.
The surcharge is charged on the amount of income tax calculated and is ideally 12%.
Health and Education cess at 4% shall also be levied on the amount of income tax plus surcharge (if any).
The One Person Company Registration Number, or the Corporate Identification Number (CIN), is a distinctive 21-character alphanumeric code allocated to an OPC when registering with the Registrar of Companies (ROC).
Example of CIN for an OPC: U01403MH2015OPC264485
The CIN can be broken down into the following components-
Upon the approval of the SPICe+ Form, you will receive a notification email from the Ministry of Corporate Affairs (MCA), which will include the Certificate of Incorporation (COI), along with the PAN and TAN of the Company. This certificate contains vital information like -
It takes approximately 7 to 10 days from the date of submission of documents, subject to approval by the MCA.
The registration process for a company can be delayed due to various factors. A few examples are-
With Razorpay Rize, the Cost of registration of a One Person Company - Rs. 1,499 + Govt. Fee
*The cost includes-
Register your One Person Company in just ₹1,499 + Govt. Fee
* Effective 15th July, 2024, DSC charges have increased by ₹ 1,000 per DSC, by the Government. This will be chargeable over and above the given prices.
A concise checklist to help you streamline the OPC registration process:
Yes, you can check your company registration status by following these below steps:
Any Indian citizen or resident can register an OPC, but only one individual is allowed to be the Director and Shareholder of the company.
Here, an Indian resident implies someone who has stayed in India for not less than 182 days during the immediately preceding financial year.
Razorpay Rize can provide a seamless, 100% online company registration process with the lowest professional fees and no hidden charges.
Feel free to explore our services or reach out to us for further information. To start your OPC registration today, click below.
Register your One Person Company in just ₹1,499 + Govt. Fee
* Effective 15th July, 2024, DSC charges have increased by ₹ 1,000 per DSC, by the Government. This will be chargeable over and above the given prices.
If the paid-up share capital of an OPC goes beyond fifty lakh rupees or if its average annual turnover over the past three consecutive financial years exceeds two crore rupees, the OPC must undergo a mandatory conversion into either a private or public company.
You can easily convert your OPC into a Private Limited Company by passing a board resolution, amending the MoA and AoA, and intimating these changes to RoC through Form INC-6.
No, you can be a nominee for only one OPC at any given point in time.
The primary difference is that in an OPC, members have limited liability, while in a sole proprietorship, members are personally responsible for all of the business's debts and obligations.
An OPC is a separate legal entity, unlike a sole proprietorship.
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