The start-ups who just have one founder, for them One Person Company is a good business formation. The idea of One Person Company (OPC) in India was originally introduced to give a boost and an increasing feeling to entrepreneurs who hold great potential in starting their own venture and allowing them to create a single person company.
Advantages of one Person Company
One of the major advantages of one person company registration is that it requires only a member in one person Company while in other registration cases, a minimum of two persons are required for registering a private Limited company or a Limited Partnership. As one person company itself is separate official and legal entity, it sees to it that it provides protection to the owner so that he/she can enjoy the features of limited liabilities.
Things Required for the One Person Company Registration, India
- One Shareholder is needed
- One Person is needed
- One Nominee is required
- One Director is required
So, eventually it requires just one person for the registration.
Features of One Person Company
- Limited Liability: The personal assets of the Director are safe and are only limited to the assets of the company.
- Separate Legal Entity:A private limited company is a separate legal entity and is also a juristic person which has been established under the Companies Act, 2013.
- Uninterrupted Existence:A company has continuous existence and stays unaffected and unchanged by change in ownership or death of any of its members.
- Borrowing capacity:Financial institutions as well as banks prefer lending to a company than lending to proprietary firms.
Procedure of One Person Company Registration
- First and foremost, one has to apply for the Digital Signature of the Directors which is required in filing the e-forms for the one person company registration.
- Then apply for the Director Identification Number or DIN which is required for applying as a director in any company.
- Apply for the Name approval on the MCA Portal as per the MCA Guidelines.
- Filings E-Forms with ROC
- Payment of ROC Fees after the name Approval from Officers.
- Issue Certification of Incorporation i.e. the final certificate of One Person Company.
- Apply for the PAN Number
- Open a current bank account on the name of one Person Company.
Documents Required for One Person Company
- PAN Number of the Director
- Address Proof of the Director as on Adhar card/driving license/ passport.
- Business Place ownership proof as on the electricity bills or rent agreement or the NOC from the landlord.
If you’re thinking of starting a business all alone and are confused weather you can do it or not? Or whether it’s tricky and complicated. If you really want a Private Company Registration in Delhi then, LexOracle is there for your help. They help you with Private Company Registration in Delhi, one person company registration, owning property, easier transferrals, legal corporate statuses, perpetual existence and much more.
Reference Link:- http://drewdalyonline.com/procedure-of-one-person-company-registration/