OPC Registration in India | Register Now Today!

Can an individual enjoy the perks of a corporate structure without the involvement of other members? The answer is yes. This is the place where the OPC (one-person company) registration plays an instrumental role. Turn your dreams now into reality with company OPC Registration in India. The OPC, which has been established under the Companies Act 2013, allows the individual to operate the business with limited liability. The OPC registration provides multiple benefits to solo entrepreneurs. 

The OPC registration in India for startups incorporation or small businesses can prove to be a golden chance to get the benefits of a credible, legally protected business with minimal fuss. Let’s explore this blog to shed light on the importance of company registration online in India and why it is affordable. 

Why Choose a One Person Company (OPC) in India?

One Person Company registration, in short, OPC registration, is a comprehensive procedure for building an organization in India. Additionally, such a company is formed by a person who also acts as both the shareholder and the director. Well, forming a company can be adventurous but also daunting when a person does it alone. When the Companies Act 2013 was not introduced, the individuals had to opt. 

However, for the registration form OPC, it streamlines the procedure. In the sole proprietorships, the unlimited liability issue was raised, which led to the person risking their personal assets. For the last few years, the one-person company (OPC) registration has become the top choice for entrepreneurs. It is introduced as the game-changer for solo entrepreneurs. With OPC, the solo entrepreneurs are getting 

1. Limited Liability Protection: In some cases, the company suffers from financial risks, the fear of loss of personal assets like a car, a home, or savings. But in OPC, the personal assets of a solo entrepreneur are safe. The capital invested by the owner is at risk. 

2. Sole Ownership: A solo company is operated by a single individual. Through this, the person gets sole ownership as it acts as a shareholder or director. There is no requirement to share one’s own decisions with other members. Individually, you are eligible to manage the business for rapid growth. 

3. Perpetual Succession: If an individual person suffers from an unexpected event or decides to move from ownership, the business lives on. It is because OPC allows a sole business to add the name of the nominee. 

4. Fewer Compliance Requirements: The compliance of OPCs is much smoother and requires fewer requirements. Unlike a private limited company that has a blanket of requirements for registration, an OPC registration saves time as well as money. 

5. Boosts Credibility: The other sources, like bank clients and vendors, help a registered one-person company to enhance its credibility. This increases with the increase of brand reputation in the market. The company is eligible to secure the loan from the bank and also attracts the attention of investors. 

Also Read This: One Person Company Registration Your Solo Business Solution

OPC registration solves the challenges of a solo company

Before establishing a business, the representative deals with multiple challenges. Due to the high cost of registration and the complex company registration procedure, solo entrepreneurs are discouraged. In the partnership company, the people worry about disputes among the partners and also face a credibility gap. 

However, for the solo-motivated entrepreneurs, the government has introduced the one person company (OPC). It has been structured to bring the single person through the tough challenges. The solo operator can enhance its business reputation by addressing the common challenges. Are you fearing registering your company due to the registration expenses? No more! The framework of OPC registration is more affordable compared to other company registrations. 

• The complex registration procedure has now been simplified with the online applications. SPICe+ form for the solo company owners who can register through it. This form allows the applicant to fill out all the details like name approval, DIN, PAN, and incorporation—all in one go. The digital registration saves time as well as cost. 

• With the guidance of the expert consultants, the applicants can streamline the paperwork load. They handle every single step to make registration successful. Provide the common documentation like Aadhar card, PAN card, and the home address proof. Additionally, the rest of the paperwork will be managed by the consultant.

• With the registration of OPC, there is no need to fear ownership loss. This is because the framework is responsible for controlling the shareholder ownership. Now, the company representative has the right to control the business activities without the requirement of a second person. 

• Just like the other company registration frameworks, the OPC further acts as a separate legal entity. It makes a transparent identity. It is crucial to structure the business more accurately, which helps to obtain the funding easily.

What is the procedure for Company Registration Online in India?

Searching for the registration process for a person company (OPC) registration? The breakdown of company registration:

Secure DSC

Obtaining the Digital Signature Certificate for the company registration is critical. This is required for the electronic signature. With the help of  DSC, the owners can sign the forms by visiting the MCA official portal. Provide the person with government proofs like PAN card, Aadhar card, or passport.

Apply for DIN

DIN is obtained by the registered company director. But for the one-person company, the solo entrepreneur can be introduced as the director. The Director Identification Number (DIN) acts as a unique ID for the directors that is crucial during the registration procedure.

Select company name

Every company has a name that defines its identity. For the one company registration, the applicant is required to choose a unique name for their sole company. But, the catch is that the company name must end with “OPC private limited”. To register the company name legally, use SPICe+ Part A. The rest procedure depends on the MCA. 

Draft MOA and AOA

Outline your solo company’s terms and conditions with objectives by drafting the  Memorandum of Association (MOA) and Articles of Association (AOA). The applicant is allowed to submit both online through SPICe+ Part B. 

Provide documents

The documents are the basis for online business registration in India. It is essential to provide evidence of a registered office. This includes the NOC as well as the rent agreement. Make sure the bill is only two months old. 

OPC bank account

Make the next move by opening a one-person company bank account. For the opening of a bank, the applicant needs to provide the certificate of incorporation, TAN, and PAN. But the entire procedure will take at least 7 to 10 days. 

Also Read This: Grow Your Business in Chennai with OPC

What are the eligibility criteria to register an OPC?

In India, not every person is allowed to register for an OPC. There are some rules and guidelines that you must follow. If you do not fit in OPC’s terms and conditions, then you are not eligible for it. Here are the points for the eligibility criteria:

Final Words | Company Registration Online in India

Establishing your business as a One Person Company (OPC) offers multiple benefits that include separate legal status, limited liability protection, solo ownership, tax advantages, and many more. For easier access to funding, apply for OPC registration in India now.