One Person Company
Introduction of One Person Company
One Person Company or OPC is a kind of proprietorship firm where the company is formed by a single person. Getting One Person Company Registration is very easy. HVJ is one call away from your OPC Registration.
What is One Person Company Registration in India?
The One Person Company was recently grown up as the strong improvement over the sole proprietorship. It is entirely a new concept which gives full control over the company to the single promoter while limiting its liability or duties to contribute to the business.
However, there is no road to raise an equity funding or offering the employee stock option in One Person Company in the early stage of the period. Into the bargain, If One Person Company anytime hits an average three- year turnover of over Rs 2 crore or has paid- up capital of over Rs 50 lakhs then it must be turned into the private limited company or Public limited Company within the six months.
Who can Start OPC?
Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC and an individual can start only one OPC.
Documents Required for OPC Registration
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Submission of MoA and AoA
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Affidavit of the subscriber and the Director
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Consent of Nominee
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Proof of the Registered Office
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Filing Forms with MCA
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Certification of Documents
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The issue of the Certificate of Incorporation