One Person Company Registration in Delhi
Register your OPC with speed, ease and Value Savings
-We will draft and file your application to MCA
-You just need to fill a simple 10-minute Questionnaire
– Simplifying your business journey
What is a One Person Company?
The contemporary concept of a ‘One Person Company (OPC) has been introduced in the Companies Act, 2013 by the MCA to provide an entire new bracket of opportunities for the budding entrepreneurs who are capable of starting a venture single handedly by allowing them to create a single person economic entity. An OPC is a hybrid structure where the OPC owner will enjoy all the benefits of a private limited company which precisely means that the OPC owner will have the access to bank loans, credits, limited liability, access to market, legal protection, etc, all in the name of an independent entity. OPC Registration in Delhi is administered by MCA portal.
An OPC can be formed in two under the following two categories:
- 1. Company limited by guarantee.
- 2. Company limited by shares
Benefits of OPC Registration in Delhi
Delhi is one of the most preferred city for startups and the big companies. Many companies have started their business due to its strong telecommunications, media and tourism. This city has rich business atmosphere and there is the high concentration of e-commerce startups. Paytm and Zomato are examples of the LLP’s in Delhi.
The population of Delhi is expected to rise 40% by the year 2020. Better roads and a good living standard here creates attractive investment opportunities for Business Owners. The business climate provides a lot of Small Scale Business Opportunities here. Not only are locals visiting the capital, tourists from all over the world have made their way to the capital of India.
Delhi has rich startup ecosystem for e-commerce businesses and opportunities for tech-centred startups to pitch their tents. Zomato and Hike messenger are other examples of startups from Delhi that quickly climbed the success ladder.
Last year, 220 technological startups took place in Delhi out of which 49 winning funding. This is comparatively higher than Bengaluru with 159 startups and only 18 winning funding New-Delhi along with Bengaluru, co-hosted a conference for startup capitals, a leadership event celebrating the startup ecosystem of the cities.
Ease of doing business
New Delhi has emerged as the largest commercial city of North India with a wide skilled English speaking workforce it is also considered to be relatively cheap as compared to Mumbai. The owners of the companies does not face any problem related to electricity. Delhi also contains the large media houses like TOI and HT which provide a medium to exchange with the customers. These media houses support most of the startup ventures which can help the owners of new startup.
At Company Registration our experts register your OPC Registration in Delhi and also help you in all matters of company registration. Starting from Selecting a Name for your company, searching availability of the name you have chosen, designing your logo, providing trademark registration of your brand name and free consultancy on any matter related to your company registration. Company Registration is just the first step of your journey with us. We also provide Bookkeeping, Taxation, Annual Filing, ROC Compliances (such as minutes, notices etc.) services too. We are a one stop shop for all your business related needs.
Requirements for OPC Registration in Delhi
- Minimum of 1 Director
- Minimum of 1 Member
- Minimum Share Capital of at least 1 lakh
- PAN Card issued by the Income Tax Department is a mandatory requirement for the identity proof.
- Copy of Passport/ Voter ID/ Driving license/ Aadhaar card/ Any utility bill is required for the address proof. The address proof must be in the name of the “applicant” only and should not be older than 2 months from the date of filing of DIR-3.
- Passport size photograph of the Applicant and Nominee
- Current occupation of the applicant
- E-mail address and the mobile number of the applicant.
- Verification Signed the Applicant
Procedure for OPC Registration in Delhi
Advantages of OPC Registration
- Only One Shareholder – Only a natural person who is an Indian resident shall be eligible to incorporate an OPC. The person must have stayed in India for a period of at least 182 days in the preceding one year.
- Single Promoter – OPC is the only corporate entity which can be started and operated by a single promoter with a limited liability protection in India and ensures the perpetual existence if the business along with easy ownership transferability.
- Nominee for the Shareholder – The only owner of the OPC shall nominate another person who shall become the director in case of incapacity/death of the original director. Only a natural person who is an Indian resident is eligible to become a nominee of the OPC.
- Uninterrupted Existence – The incorporated OPC has a ‘perpetual succession”, i.e., uninterrupted existence until it’s been legally dissolved. Since the company has a separate legal existence, it is unaffected by the death or departure of any member and continues to be in existence irrespective of the changes in its ownership.
- Easy Transferability –The ownership of an OPC can be transferred easily by transferring the company shares. The signing, filing and transfer of share certificates and shares transfer form are sufficient to transfer the ownership of the company. In OPC, ownership can be either transferred either by altering the nominee director’s information, shareholding or the directorship.
- Borrowing Capacity –It is very much noticeable that the banks and other financial institutions prefer to provide funding to a company rather than partnership firms or proprietary concerns. However, an OPC cannot issues multiple types of equity security as it is owned by one person at all the times.
- Owning Property – A company enjoying the status if artificial person is eligible to acquire, own enjoy and alienate property in its name. The property that is owned by the company could be buildings, land, machinery, intangible assets, factory, residential property, etc. Additionally, the nominee director is prohibited to claim any ownership of the company while serving as the nominee director.
Post Incorporation Compliances of OPC
Though an OPC does permits an onliest entrepreneur to operate a corporate entity with protection of a limited liability, an OPC does accounts a few limitations. Following are the points to be kept in mind before prepping to incorporate an OPC:
- Only a natural person who is an Indian resident in the preceding year, i.e., has stayed in India for 182 days can form an OPC.
- It is mandatory for every OPC to nominate a Nominee Director in the MoA and the AoA of the company, who becomes the owner of the OPC in case the sole owner is disabled.
- The OPC should be converted into a Private Limited Company if the annual turnover of the company crosses Rs. 2 crores
- It must file an audit of the financial statements with the MCA at the termination of each financial year.
- The inception of paid up capital of Rs. 50 lakh and average annual turnover of Rs. 2 crore in 3 immediate preceding financial year is important beyond which the status of OPC is lost.
- The rules of the OPC do not permit Non-Banking Financial Institutions.
Steps for OPC Registration in Delhi
Step 1:Applying for Digital Signature of Director (DSC)
DSC is an equivalent of the physical or paper certificates in their digital format. The process of OPC Registration in Delhi begins with applying for the DSC because the application for OPC Registration in Delhi is filed online with the DSC of the director only. In order to issue a DSC, a signed application form with a photo ID and Address proof of the director is submitted.
Step 2:Applying for Direction Identification Number (DIN)
Director Identification Number is a permanent and a unique identification number issued to the Director of a company or a designated partner of the LLP by the Registrar of Companies. In accordance with the New Companies Act, 2013 – no person can hold an office of the director without having a DIN. An application to the ROC is made with a photo, attested ID and address proof duly signed by a practicing professional, a CA/CS/CMA for the allotment of DIN.
Step 3:Name Approval of the One Person Company
Name of each and every company should be new and unique. In other words, no company name should resemble to that of an already registered company, LLP or a registered trademark. After the successful allotment of DSC and the DIN, an application is made to the ROC for the approval of the company name. The Registrar is entitled with the discretionary powers when it comes to the approval of the company name.
Step 4:Drafting of the MoA and AoA of the Company
The Memorandum of Association (MoA) of the OPC includes all the information about the company such as the Name of the Company, state of company incorporation, details of the authorized capital and declaration of the company about being it a limited company. The Article of Association (AoA) accommodates all the internal rules of the organization. It is mandatory for the promoters to adopt and sign the MoA and AoA before it could be filed with the ROC.
Step 5:Company Incorporation
Once your application is filed you will receive an ARN number. The Incorporation certificate is received within 15-20 days .It is a proof that company has been created. The COI also includes your CIN (Company Identification number).
Step 6:Opening of a Company Bank Account
It is mandatory for a company to have a bank account in order to operate its business. Our expert executives are here to help you in getting the company PAN, RAN and TDS payment compliance to help you open the company bank account.