One Person Company (OPC), another idea has been present in the Organizations Act 2013. In a privately own business, in any event 2 chiefs and 2 individuals are require while in a public company, at any rate 3 chiefs and at any rate 7 individuals are require. A solitary person couldn’t beforehand incorporate the company.
One Person Company registration in Chennai (OPC) is a company claim by one person. Preceding the execution of the Organizations Act, 2011, not a solitary person could build up a company. If a person expect to set up his own business, he could simply pick sole possession as there should be at any rate two bosses and two individuals to set up a company.
As per Area 2 (62) of the Organizations Act 2013, a company can be form with just 1 chief and 1 part. It is a form of a company where consistence prerequisites are lower than a privately owned business.
The Organizations Act, 2011 gives that an individual can form a company with a solitary part and a chief. The boss and the part can be a comparative person. Accordingly, a one-person company implies a person who might be an occupant or a NRI might be associate with her business with the company’s offices and sole ownership benefits.
Advantages of One person Company
Legitimate status
Procures the circumstance with an alternate legitimate component from the OPC part. The OPC’s different legitimate substance secures the person who has included it. The risk of the part is restrict to his/her offer, and he/she isn’t personally answerable for the misfortunes of the company. In this manner, leasers can sue the OPC, not the part or chief.
Simple to get money
As OPC is a privately own business, it is not difficult to raise assets through investments, private backers, hatcheries, and so forth Banks and monetary establishments like to loan to a company as oppose to an ownership company. Accordingly, it turns out to be not difficult to get money.
Low consistence
The Organizations Act, 2013 gives certain exclusions to OPCs in regard of consistence. The OPC doesn’t need to set up a pay clarification. The company secretary isn’t need to sign the books of records and yearly returns and is just endorse by the chief.
Simple addition
It is not difficult to incorporate OPC as a solitary part and only one chosen one is need for its inclusion. The part may likewise be a chief. The base approved capital for incorporation of OPC is Rs. 1lakh, yet there is no base capital prerequisite to be paid. Hence, it is simpler to fuse it than different forms of company.
Simple to oversee
A single person can set up and run an OPC, simplifying it to direct. Choices are not difficult to make, and the dynamic cycle is quick. General and extraordinary goals can be effectively gone into the moment book by the part and endorse by the sole part. Subsequently, the company is not difficult to work and oversee as there will be no logical inconsistencies or postponements in the company.
Perpetual progression
The OPC has a perpetual replacement office in any event, when there is just a single part. While including the OPC, a solitary part candidate should be delegated. After the demise of the part, the candidate will run the company instead of the part.
Procedure:
Stage 1: Apply for DSC
The initial step is to get the Computerize Mark Testament (DSC) of the propose chief for which the accompanying records are require:
Confirmation of address
Aadhar card
Skillet card
Photograph
Email ID
Phone number
Stage 2: Apply for Commotion
When the Computerize Mark Endorsement (DSC) is done, the subsequent stage is to apply for the Chief ID Number (Commotion) of the proposed Chief in the SPIC form alongside verification of the Chief’s name and address. Form DIR-3 is an alternative accessible just to existing organizations.
This implies that from January 2018, the candidate isn’t need to document DRI-3 independently. Up to three chiefs would now be able to apply for the Clamor hot form.
Stage 3: Name Endorsement Application
The following stage while including OPC is to settle on the name of the company. The name of the company will be “ABC (OPC) Pvt. Ltd.”
There are 2 choices accessible for getting name acknowledgment utilizing MCA’s RUN web administration by applying in Form Zesty 32 or giving just 1 chose name with the significance of having that name. Nonetheless, with impact from Walk 23, 2018, the Service has chosen to endorse two proposed names and one RFB, holding one of a kind names (RUN administration) for organizations.
When the name is support by the MCA we proceed onward to the subsequent stage.
Stage 4: Reports require:
We need to set up the accompanying archives that should be submitted to the ROC:
Notice of Affiliation (MOA) which will be trail by the company or the business for which the company will be included.
The Articles of Affiliation (AOA) are the by-laws laid out underneath on which the Company will work.
As there is just 1 chief and part, a chosen one must be named in the interest of such person as though he gets cripple or passes on and can’t perform his obligation he will perform for the benefit of the chief and have his spot. His assent in Form INC-3 will be brought with his Skillet card and Aadhaar card.
Confirmation of enrolled office expense of the proposed company alongside verification of proprietorship and NOC from the proprietor.
Presentation and assent of the proposed Overseer of Forms INC-9 and DIR-2 separately.
A presentation by proficient accreditation that all have been conform to.
Stage 5: Round out the form with MCA
Every one of these archives will be append with Hot Form, Hot MOA and Fiery AO to the Chief and DSC of the expert and will be transferred on the MCA site for endorsement.
Page number and TN are create consequently at the hour of company incorporation. No different application is need to get page number and TAN.
Stage 6: Issue endorsement of establishment
Upon check, the Enlistment center of Organizations (ROC) will give an Authentication of Fuse and we will actually want to begin our business.