One person company registration services

One Person Company Registration services provided at K M Gatecha & Co LLP:

• Experts advise regarding requirements and process,
• DSC application,
• DIN number application,
• Collection of documents,
• Filing of forms,
• Attending to any queries raised,
• Issuance of certificate of Incorporation

What is One Person Company (OPC)?

• One Person Company is a concept which was introduces with the Company’s Act, 2013, is a company formed by a single person.
• Before 2013 a single person was not able to form a company,
• It can be formed by one director and one member (both can be the same person),
• It can we formed by a resident or non-resident Indian.

Documents for One person Company registration:

• PAN card or Passport,
• Passport for NRIs and foreign nationals,
• Scanned copy of driver’s license or voter’s ID,
• Gas or electricity invoice/bank statement/mobile or landline phone bill,
• Specimen signature or thumb impression,
• Passport size photo.

Documents required for One Person Company registered office:

• Only commercial premises are allowed as a registered office or directors place of residence,
• Current bank statement/phone or mobile invoice/gas or electricity bill invoice,
• Rental agreement in English Language,
• No objection certificate from property owner or property owner,
• Property or sale deed if property is owned.

Process for One Company registration or incorporation:

• Check eligibility and documents,
• Apply for DSC and DIN for all directors,
• Application for name reservation,
• Filing of Spice+ form,
• Apply for PAN and TAN card,
• Issuance of certificate of incorporation by ROC,

Advantages of One Person Company:

• One person company can be established by a single person. The only other possibility for a single person to open a business is sole-proprietorship firm,
• Limited liability of the person setting up the One Person Company,
• Can appoint a successor,
• Can be listed as a private limited company and have market value,
• Easier credit facilities,
• Easier returns filing,

Disadvantages of One Person Company:

• Tax rate is at flat 30% on all profits and there are no exemptions,
• If turnover exceeds 2 crores for consecutive 3 financial years, then the OPC has to be converted to LLP or public limited company,
• One person can only register 1 OPC,

So, a One Person Company is beneficial for a person who is looking to form a company having the benefits of an LLP or Private Limited Company but wants to form it alone.

We, at K M Gatecha & Co LLP, provide the best services for formation of a One Person Company in a hassle free and efficient manner. Our team of experts will guide you and manage the entire process of formation of the company.