ONE PERSON COMPANY (OPC)
ONE PERSON COMPANY
The concept of One Person Company [OPC] is a new form of business, introduced by The Companies Act, 2013 thereby enabling Entrepreneur(s) carrying on the business in the Sole-Proprietor form of business to enter into a Corporate Framework. One Person Company is a hybrid of Sole-Proprietor and Company form of business, and has been provided with concessional requirements under the Act.
ADONE simplifies the company registration process. We can assist you to register companies anywhere in India at an attractive cost.
Features of One Person Company (OPC)
1. Only One Shareholder:
Only a natural person, who is an Indian citizen andresident in India shall be eligible to incorporate a One Person Company. Explanation: The term "Resident in India" means a person who has stayed in India for a period of not less than 182 days during the immediately preceding one calendar year.
2. Nominee for the Shareholder:
The Shareholder shall nominate another person who shall become the shareholders in case of death/incapacity of the original shareholder. Such nominee shall give his/her consent and such consent for being appointed as the Nominee for the sole Shareholder. Only a natural person, who is an Indian citizen and resident in India shall be a nominee for the sole member of a One Person Company.
3. Director:
Must have a minimum of One Director, the Sole Shareholder can himself be the Sole Director. The Company may have a maximum number of 15 directors.
STAGES OF INCORPORATION
STEP -1 | Preliminary Discussion | Preliminary discussion between Team Legacy Partners and the Promoter of the Company. This includes Ascertaining document requirement and availability, Preparation of signing documents and signing of the Incorporation documents by Promoters.
STEP -2 | Digital Signature| Digital signature is mandatory for all Directors to proceed with incorporation.
STEP -3 |DIN (Director Identification Number) of all the Directors| This is a prerequisite to begin the registration process of the co. This process is an online process which requires certification from a practicing CA/CS/CWA.
STEP -4 | Name Availability of Co.| Promoters need to provide six names of the proposed company in order of preference along with significance of words used. Form INC-1 has to be filed with the concerned ROC.
STEP -5 |Drafting of MOA and AOA| Memorandum of Association and Articles of Association of the company and other Incorporation documents are drafted after the name of the company is approved, the last page of the MOA and AOA is referred as subscriber sheet which need to be filled in by the promoters in their own hand.
STEP -6 | Incorporation Certificate| After the MOA and AOA is drafted and signed the same if submitted to ROC along with Form INC-1, Form INC-7 and Form INC-22 along with the prescribed fee. The Registrar will issue the certificate of incorporation [COI] after verifying the incorporation documents submitted.
POST INCORPORATION SERVICES
The smooth functioning of any organization demands the perfect blend of management, in terms of legal matters. Our vast experience of many years standing in the field will assist you in all your post-incorporation registrations:
REGISTRATION FOR FOLLOWING ONE-TIME TAX / GOVT. AUTHORITIES:
- PAN [ Income Tax]
- TAN [ TDS / Withholding Tax]
- VAT / TIN [ Sale of Goods]
- Service Tax [ Sale of Services]
- IEC [ Import or Export of Goods / Services ]
- Central Excise [ Tax on Manufacture of Goods]
- Factory Licence [ To establish a manufacturing unit]
- Shop & Establishment [ Local Body for Employment Rules]
- Provident Fund [ For Employees Retirement Funds]
- ESIC [ For Employees Medical ]
- Professional Tax [ For Company and Directors ]