The concept of one Person Company in India was introduced through the companies’ act 2013 to support the entrepreneurs who on their own are capable of starting a venture by allowing them to create a single entry economic entity. One of the biggest advantages of OPC is that there can be only one member in an OPC while a minimum of two members is required in incorporating and maintaining a private limited company or a limited liability partnership. Similar to a company, an OPC is a separate legal entity from its promoter offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate. For instance, every OPC must nominate a nominee director in the MOA and AOA of the company who will become the owner of the OPC in the case of the sole director is disabled. Also, a one-person company must be converted into a private limited company if it crosses an annual of ₹2 crores and must file the audited financial statements with the ministry of corporate affairs at the end of each financial year like all types of companies.
A corporate form of legal entity in One Person Company ensures that the business has perpetual existence and easy ownership transferability.
A company being a separate legal entity is unaffected by the death or other departure of any member and continues to be in existence irrespective of the changes in ownership.
In One Person Company, the ownership can be transferred by altering the shareholdings, directorship, and nominee director information.
Banks and financial institutes prefer to provide funding to a company rather than partnership firms or proprietary concerns, however, a One Person Company cannot issue different types of equity security, as it can only be owned by one person at all times.
A company being an artificial person can acquire, own, enjoy and alienate, property in its name. the property owned by the company could be anything but the nominee director cannot claim any ownership of the company while serving as a nominee director.
The documents required from the director and shareholders are:
Documents required of the proposed registered address are as follows:
Even if the director is the owner of the property NOC is needed from him
Note: The same document must be required for OPC nominee and All documents must be scan from the scanner with good quality.
One Person Company registration process can be completed in around 10-14 working days after all document receive completely from the customer as follows:-
One Person Company (OPC) registration in Jaipur, Rajashthan, India. call 0141-4455144 for best company registration offer.