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How To Start A One Person Company In India 10 лет назад


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How To Start A One Person Company In India

If you want full control over your #business, and be protected from liability while running it, you need to start a #one-person company (OPC). A new concept in India, the OPC allows you to run a company – albeit with a maximum paid-up capital of Rs. 50 lakh and #maximum average revenues of Rs. 2 crore over three years – with just you as #shareholder and #director. There needs to be a nominee director, but that’s only to ensure continuity of the company. The big drawback of this, of course, is that you can’t raise equity or offering employee stock options. Read more about - https://vakilsearch.com/one-person-co... For more updates: Subscribe us:    / legalsolutionsvakil   Like us at :   / vakilsearch   Follow Us:   / letsvakilsearch   What is a One Person Company? OPC is a company, which has only one person as a member. The process of incorporating the OPC is almost similar to that of a private limited company with minor differences and one person company will be formed as a private limited company. hence the minimum paid-up capital will be Rs 1,00,000. How do I incorporate OPC? Here's a simple three-step process to begin with: Step 1: Getting a digital signature that would need a three to the four-day duration and a director's identification number is mandated for the director to get one. Step 2: Choosing a name for your company. It's very important to ensure the name is chosen right. Step 3: We prepared a Memorandum of Association and Articles of association and ensure the filing is complete, post which you can get your certificate of incorporation. You can start with one member and one or more directors to form a one-person company and the member must appoint a nominee. The nominee's name will be mentioned in the memorandum of an OPC. DIN and DSC are not required for the nominee. The minimum authorized capital required to start a one-person company is rupees one lakh. Who can form an OPC? A one-person company can be formed only by a natural person who is an Indian citizen and resides in India. A resident in India means a person who stayed in India for a period of not less than one hundred and eighty-two days during the immediately preceding one calendar year. Guidelines to choose your company name: For getting a name for your company that has a couple of guidelines, which you need to follow. To begin with: Every company's name has two parts to it. 1. The first part is the name of your choice. For example Wipro or Mercedes-Benz. 2. In the second part, you describe the business activity of your company. 3. For example technologies or legal solutions please make the second part as descriptive as possible. What names are not permitted? Similar names are complete to be avoided and are not permitted. There are few illustrations listed. Please have a look. If J.K.Industries limited is an existing company then, Jand K Industries or Jay Kay industries or J n K Industries or J&K Industries will not be allowed. What is included in the Vakilsearch incorporation package? We provide the director's ID number for one director and provide the DSC for one director. Your company's name approval filings will be done by our team. Your company's final registration inclusive of their Memorandum of Association, Articles of Association will be provided by us and the nominee’s consent form will be completed by us. Further to which the certificate of incorporation by the Registrar of Companies will be taken care of by Vakilsearch. And your company's PAN & TAN number will be provided. Documents required for OPC: Here is a detailed list of the documents required while registering for a one-person company. 1.To begin with, the Directors Identification Number(DIN). You need to obtain the PAN card, ID proof, address proof, authorization letter, passport size photograph. 2. And applying the name of your company and final incorporation you will require the electricity or property tax bill, subscription documents of the Memorandum of Association and Articles of Association. How long will it take to complete the process? If you're wondering how long it'll take to complete the entire process, it will take 20 to 25 days to register a private limited company. Step 1: Getting the director’s identification number would require two days. Step 2: For your company's name approval process can take anywhere between seven to ten days and Step 3: A final registration process of a five to 10-day duration will be required. Do I have to visit the government offices? Not required. The entire process is now automated and the process will be handled online and you will receive the DIN numbers and certificate of incorporation by email directly by the ministry of corporate affairs. How much will it cost? The government fees will be 5000 and professional fees will be Rs 4999. Summing up the

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