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If you are planning to register an OPC (One Person Company), ensure that you meet the following eligibility criteria as per the Companies Act, 2013:
Single Shareholder
Register your One-Person Company with just a single individual to act as the initial director/shareholders. However, another individual to be nominated as the nominee of a single shareholder of the company.
Registered Address
For registration of the company, you need to submit the proof of Registered Office & NOC from the owner. You may register a company on a communication address in case of difficulty; however, within 60 days, the company must have its registered address
Capital Requirement
Invest as per the business's requirement, & as such, there is no prescribed minimum or maximum capital. However, the ROC Fee and the Stamp Duty is calculated on the authorised capital and the location of the registered office of the company.
New & Unique Name
The name of the proposed new company must be unique and eligible, in view of name guidelines as prescribed under section 4 of the Companies Act, 2013. If you need help, please contact us, we would help in deciding the name of your startup.
A One Person Company is a single owner business akin to a Proprietorship Firm. However, unlike a proprietorship, the liability of the sole shareholder of an OPC is limited. The management is controlled by directors in an OPC.
As the name suggests, a One Person Company can be started with one director.
A nominee is a person who in the event of death or disability of the subscriber of the One Person Company shall assume his position. Memorandum of Association of a One Person Company will mandatorily prescribe the name of the person.
Yes. A nominee can be changed at any time with due intimation to the Registrar.
In case the paid up share capital of an OPC exceeds 50 lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into a private or public company.
Yes, NRIs / Foreign Nationals / Foreign Companies can hold shares of a Private Limited Company subject to Foreign Direct Investment (FDI) Guidelines.
The OPC shall inform RoC in form INC-5, if the threshold limit is exceeded and is required to be converted into private or public company.
No, A person can be member in only one OPC.
Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.
No, FDI is not allowed for One Person Company. You may consider incorporating a Private Limited Company if you desire to bring FDI.
Yes, the Act has not made any restriction for a One Person Company to become a member of another Private Limited Company.
A One person company can easily be converted to a Public or Private Limited Company.
No, you will not have to be present for registering of an OPC. OPC incorporation is a completely online process.
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