What is OPC Registration ?
One Person Companies are helping tremendously in increasing the overall economy of India. More and more Entrepreneurs are coming up and setting up their business. Since, no intervention from any third party is seen, it makes it more beneficial.
Documents required OPC Registration
Documents Required For OPC Registration
Passport size photograph of owner
Copy of Aadhaar Card/ Voter identity card
Copy of Rent agreement (If rented property)
Electricity/ Water bill (Business Place)
Copy of Property papers (If owned property)
Landlord NOC (Format will be provided)
Compare Your Options
|Private Limited||Limited Liability Partnership||One Person Company||Partnership Firm||Sole Proprietorship|
|Recommended For||Start-ups and growing||Professional services firms||Sole promoters||Home businesses||Small traders|
|Ease of Accommodating||Very easy to accommodate||Possible, but unlikely||Possible, but severely||Almost impossible||Impossible|
|Limited Liability Protection||Yes||Yes||Yes||No||No|
|Tax Advantages||Few benefits||Most efficient||Few benefits||Minimal||Minimal|
Eligibility for OPC Registration
Only a natural person who is a citizen of India and resident in India :
- Is eligible to incorporate an OPC
- Is eligible to be a nominee for the sole member of an OPC.
- A Resident of India is a person who has stayed in India for at least 182 days in the preceding 1 year.
- If an OPC exceeds a turnover of over Rs.2 crore or has a paid-up capital above Rs.50 lakhs, it must be turned into a private or public limited company within six months.
Factors to Consider in OPC Name Selection
Short & Simple
The name of your OPC should be relevant to your business. It should fit the company’s branding strategy. For example, Infosys refers to information systems or IT technologies.
Name of your OPC should not be exactly the same or identical to an existing LLP or company or trademark or for which a trademark has been applied for. You can go to search.dtcconsultants.com to check if your company name matches any others. Ideally, you should avoid plural version e.g, “Snapdeals” or merely changing the letter Case or punctuation marks or spacing in an existing LLP, Company and Trademark name.