25/04/2021
At Sidhi Wadhwa & Associates, Companies Secretaries, we offer our expert services for hassle-free One Person Company OPC Registration.
OPC Registration has opened up new business opportunities for sole proprietors and entrepreneurs who wish to enjoy the advantages of limited liability, and a separate legal entity as well.
OPCs have been provided with several exemptions and have lesser compliance-related burdens.
It requires only one person who will act as a member, shareholder, and director.
Eligibility Criteria for Registration of One Person Company OPC:
* Only a person who is a citizen of India and resident of India can be the sole shareholder of OPC.
* Legal entities like private/ public limited companies or LLP are not allowed to join an OPC as a shareholder.
* The promoter must nominate a nominee during the incorporation of the OPC.
* The Nominee can be a ‘Nominee’ in only one OPC.
* The maximum Paid Up capital of an OPC is Rupess Fifty lakhs. An OPC is not allowed to have a minor as its member.
* In case an OPC has achieved a turnover of over Rs 2 crores or has a paid-up capital more than Rs 50 lakhs, it has to be converted into a private or public Company within 6 months.
* An OPC must have a minimum of one Director. The sole shareholder can himself be the sole Director. The company may have a maximum of 15 directors.
Benefits of OPC Registration:
* The legal liabilities are minimised.
* The OPC is a separate legal entitty.
* Registering as an OPC ensures increased borrowing capacity.
* It also gives uninterrupted functioning of the company.
Get your OPC Registration with us and avail various benefits provided to Small Scale Industries (SSI) and deductions under the Income Tax Laws.