Registration of Public Limited company through thelawplanet.com

Public Limited Company

Public Limited Company

  

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  • 3 DSC & 3 DIN
  • Company Name Reservation
  • Articles of Association      (AOA) and Memorandum of Association (MOA)
  • Corporate Identification      Number (CIN)
  • PAN & TAN
  • Capital Rs. 500 K As per      (Stamp duty as per NCT Delhi )

What is Public Limited Company Registration?

A Public Limited Company has more credibility and transparency in business than a private limited company. Public limited company has high financial exposure to source capital from the Public as Equity or debenture or deposit. A public limited company can register with a minimum of three Directors, and Public limited company always preferred if you have a broad vision from startup to IPO.

A public limited company has all the advantages of the Private limited company and the ability to have the unlimited number of members; shares can be quickly sold or and offer more transparency for shareholder lenders, creditors, and bankers.

Package Inclusions

  • DSC and Director      Identification Number (DIN)
  • Company Name Reservation
  • Articles of Association      (AOA) and Memorandum of Association (MOA)
  • Corporate Identification      Number (CIN)

Advantage of Public Limited Company Registration

Limited Liability

Liability of Members and Directors of the Public limited company is limited to their shares. It means that if the company suffers from any loss and faces financial distress because of primary business activity, the personal assets of shareholders / Members / Directors will not be at risk of being seized by banks, creditors, and government.

Continuity of Existence

The life of a business is not affected by the status of shareholders, and even after the death of the shareholder Public limited company continues to exist.

Borrowing Capacity

A Public limited company enjoys unlimited source for the borrowing of funds. The public limited company can issue debentures, equity and can also accept deposits from the public. Financial institution even prefers to render financial assistance to large public limited company

Public Limited Company Registration Process

1. Digital Signature Certificate (DSC)

All Propose directors of the company should have a digital signature, and digital signature will use to file the registration forms, ROC compliance E-forms, and Tax returns.

2. Director Identification Number (DIN)

You will get an approval email from the Registrar of companies that you are now eligible to be a director of a company.

3. Company Name approval

After a Trademark search, we will proceed to file a Name Approval form to ROC on your behalf.

5. PAN

Then we will file PAN Application.

4. Final Incorporation and CIN

After Name approval from the Registrar of Companies, we will file final incorporation form to the Registrar of Companies.

Documents Required for Public Limited Company

From Directors and Shareholders

  • PAN Card or Passport or      Election ID Card
  • Latest Bank Statement/Telephone      or Mobile Bill
  • Voter's ID/Passport/Driver's      License
  • Passport-sized photograph of      all directors and shareholder
  • Scan copy of Signature      (signature should same as on PAN Card)

For Proposed Registered Address (Residential/Commercial)

  • Any Utility bills
  • Scan copy of Rent agreement      with NOC from owner

FAQs about Public Limited Company Registration in India

1. Do I need to be present during this registration process?

Public Limited Company registration is a 100% online process. No need to be present physically to our office or ministry of corporate affairs. We will send our person to your home or office for document signature.

2. What is Articles of Association (AOA) and Memorandum of Association (MOA)?

AOA refers to articles of association which defines the internal constitution of the company, and MOA defines mission, vision, business objectives of the company in the log run.

3. Do I need to hire a full-time CA/ CS?

No. you need not hire a full-time CA or CS. We will offer your annual compliance package thru you will get the right advice from our team.

4. How much time is required for registering a Public Limited Company in India?

Usually, we register a company in 15 business days.

5. What are the rules for picking a name for a Public Limited Company?

As Per companies act 2013, company name should be unique, and business objectives should be added to the name. Also, do care that business name and legal should be different.

6. What documents are required for registration of a Public Limited Company?

All proposed directors should provide identity proof (like Aadhar/ Passport / DL/ any other government issued ID, Utility bills as address proof, a copy of PAN Card (for Indian Nationals) and Passport (for foreign nationals). No-objection Certificate must be submitted by the owner of the registered office premises.

7. What is a DSC & DIN?

The DSC is a digital signature certificate which is issued by the certifying authority to sign the electronic documents. DIN is a director identification number. Every proposed director in a company must have a valid DIN.

8. What is the validity of the registration of a Public Limited Company?

A registration certificate issued by the registrar of company shall be valid throughout the life of the company. 

Private Limited Company

Private Limited Company

  

  • DSC and      DIN for 2 Directors.
  • Company      Name Reservation.
  • MOA      & AOA.
  • Corporate      Identification Number (CIN).
  • PAN      & TAN.
  • Bank      Account Opening Template.

What is Company Registration Process?

The Private Limited Company registration process is an online process under the initiative of the Ministry of corporate affairs. Planning to start a company the Private limited company is strongly recommended for startups due to ease of operations and access to a venture fund. thelawplanet.com lends a hand to start-ups across India and provides premium advisory services for Startup Company registration, Corporate Income Tax, Preparing Business Plan, Investor Deck, Registration under Startup India, and also in designing an investment-friendly corporate structure.

Therefore, for the better understanding of online Company registration process, we have drafted 25 FAQ at the end of the page. Into the bargain, if you need a detail explanation on Company Registration process, Cost and Timeline, please fill your details above and click on Get Started button or email at thelawplanet@gmail.com and our expert will send you a service brochure about the pros and cons of starting a company in India.

Therefore, for the better understanding of online Company registration process, we have drafted 25 FAQ at the end of the page. Into the bargain, if you need a detail explanation on Company Registration process, Cost and Timeline, please fill your details above and click on Get Started button or email at thelawplanet@gmail.com and our expert will send you a detailed brochure about the online Company registration process.

Know Simple 7 Steps to register a company in India

Launching Own startup is more of a passion and we argue to start a business with a mission to bring change in Product or services. The Business idea should have the ability to go viral and solve problems. The Business registration in India has been simplified under the initiative of the Ministry of Corporate Affairs.

Step 1 – Select a Right Business structure

  • One      Person Company Registration - In OPC Structure you will get almost all the      benefits of Private Limited Company so it is advisable to start a Sole      Ownership in case you are not willing to share ownership.
  • Private      Limited Company Registration - Private Limited Company is a most popular      business structure in India, Startup always runs towards the Pvt Ltd      Company registration. PLC has separate existence than its Members and      Directors. Venture Capital fund is easy in Pvt Ltd Company
  • Limited      Liability Partnership Registration (LLP) - LLP is suitable for      Consultants, Advisors, and Lawyers/Professionals. LLP registration is very      pocket-friendly in terms of increasing the Capital, Annual returns and      legal compliance etc.

Step 2: Select a Brand name and Legal Name

After you finalize the business structure next step is to finalize a brand name and company legal name in Consultation with a CA/CS

Step 3: Hire A CA & CS

Prefer to hire a CA / CS who can work with you with long term vision as if you have a CA who understands your business well then you can grow well.

Step 4: Digital Signature Certificate (DSC)

All Proposed directors of the Private Limited Company should have a digital signature that will be used to file the online Company Registration application and in future, you can use same DSC for a signing of ROC compliance e-forms, and E-Income Tax returns

Step 5: Name Approval

We believe that you will select thelawplanet.com for Company registration, we shall ensure to file Name Approval Form (RUN) in Just 2 working Days

Step 6: Submission of Final Incorporation form along With MOA & AOA

After Name Approval, we need KYC, Photo and Address proof of Directors & Shareholders, Our Team will submit Spice e-form to MCA in 3 days you will get Certificate of registration along with PAN & TAN in Maximum 5 Working days.

Step 7: Bank Account & GST Registration

Open your bank Account and Launch Your Startup

Documents required for Online Company registration

A. From Members and Directors (Self-attested)

  • PAN Card      of Members and Directors.
  • Aadhar      card.
  • Election      ID Card / Passport.
  • Scan      copy of Photographs.
  • Latest      Bank statement not older than 30 days.

B. For Registered office

  • Rent      Agreement on the name of Company.
  • Utility      bills (Not older than 30 days).

Advantages of Private Limited Company Registration

  • Limited Liability -      Liability of Members and Directors of the Private Limited Company is      limited to the number of shares. This means that if in any case company      suffers from any loss and faces financial distress because of primary      business activity then the personal assets of      Shareholders/Members/Directors will not be at risk of being seized by banks,      creditors, and government.
  • Continuity of Existence -      The life of a business is not affected by the status of shareholders and      even after the death of the shareholder; the private limited company      continues to exist.
  • Scope of Expansion - The      Scope of expansion is higher because easy to raise capital from a venture      capitalist, angel investor, financial institutions and the advantage of      limited liability. The Private limited company offers more transparency in      the company.
  • Brand Value - In      comparison to Sole Proprietorship, Private Limited Company has more value      as it owns a separate legal entity managing affairs on its own name.
  • Valuation and Customer -      Valuation is an important aspect of the company and high valuation comes      from loyal customers. You should work on a business model with a higher      lifetime value of a customer; Entrepreneur should focus on higher      assessment of the company by offering the unique value proposition to the      customer's life.

Starting a company by foreign national

Indian is among the 6th biggest economy of the world. In most of the business sectors and as per government recent notification, FDI (Foreign Direct Investment) from 26 % to 100% is allowed. 100% FDI is allowed in NBFC & Payments business, Software, Business support, Trading, and Manufacturing. As a foreign entrepreneur if you are planning to apply for online company registration in India then the registration process is the same as it for Indian citizen. You simply need one Indian Resident director to initiate the Company formation process in India.

10 Things to do After Private Limited Registration

1. Call 1st Board Meeting for Appointment of Auditor.

2. Open Bank Account.

3. Trademark registration.

4. GST Registration.

5. MSME Registration.

6. The issue of Share Certificate to the members.

7. Finalize the founder's agreement.

8. Prepare Employment agreements.

9. Draft Company policies and SOP.

10. Launch your product / Services.

Do I need to issue Share Certificates to my Co-founders after Company Registration?

Yes, you can issue share certificate to the co-founders after the company registration complying the followings

  • Share      certificate to members/Co-founders must be issued within 60 days from the      incorporation of a company.
  • In case      transfer of shares to Non-Members Within the period of 30 days from the      receipts of transfer letter.
  • Conduct      a board meeting and form an allotment committee.
  • Need to      prepare the register of members.
  • Printing      of share certificate.
  • Intimation      and dispatch of shares.

Know 6 Steps to Check Company Registration Status

India is among a very few countries where company data is easily available for public view. From the Public view, you can find Directors details, Balance sheet/Annual returns or Charge status. At below, we tried to explain to you to verify the company registration status as well compliance status of the company.

  • Visit      www.mca.gov.in.
  • Click on      MCA Services.
  • View      company master Data.
  • Type      Company name.
  • ROC will      display Company details.
  • Check      company registration & Compliance status.

Can I apply for Start-up India Program after Company Incorporation?

Start-up India programs are available for emerging startups having a capability of generating employment and solving problems of the mass appeal. Here, eligible startups can easily apply under this program. Subsidies under the Startup India program will cease to exist in case the company crosses the 25 Cr annual turnovers in a financial year. The following are the benefits of Registration under the Start-up India Program

  • 0%      Income Tax benefits for 3 Years.
  • 0% Tax      on Capital Gain.
  • All      government approvals from one Web Portal.
  • Fast-track      processing and 80% rebate on Startup Patent Registration.
  • Free      Legal Agreements.
  • Start-up      Funding.
  • Free      Mentorship and Access of knowledge.

14 Mandatory Compliances for a Private Limited Company

Thelawplanet.com has been supporting thousands of startups like yours; you can subscribe to our annual compliance package. Below is the annual compliance checklist for small companies (Capital below Rs 50 Lac and turnover below Rs 2 Cr)-

  • Appointment      of Auditors with 30 days from the date of company registration.
  • Minimum      2 board meetings in every 2 quarters.
  • GST      Payments on Monthly / Quarterly basis
  • Monthly      TDS Payments
  • Quarterly      TDS Returns
  • GST      Annual Returns
  • Conduct      1st AGM within 15 months.
  • Filling      of Annual returns MGT-7, AOC-4, MBP-1, and DIR-8.
  • Director      reports about the operation and performance of the company.
  • Maintenance      of statutory register etc.
  • Circulation      of Financial Statement other documents to members and directors.
  • Filing      of Income tax returns by or before 30th September of following financial      year.
  • Filing      of Tax Audit report to Income tax department (in case Gross receipts is      more than Rs. 1 Cr)
  • Income      tax Assessment

1. Do I need to be present during the Company Registration process? 

Company registration is a 100% online process. No need to present physically to our office or ministry of corporate affairs. We will send our personnel to your home or office for document signature.

2. What is the Articles of Association (AOA) and Memorandum of Association (MOA)? 

AOA refers to articles of association which defines the internal constitution of the company, and MOA defines mission, vision, and business object of the company in the long run business.

3. Can I register a Company at the residential address? 

Yes. You can use the residential premises for Company registration as well for GST Registration.

4. Do I need to hire a full-time CA/CS? 

No. You don't need to hire a full-time CA or CS. We can do all the formalities required for annual compliance on your behalf as we are backed by a team of professionals.

5. How much time is required for registering a private limited company in India? 

Usually, we register a company within 7-20 business days.

6. What are the rules for picking a name for a private limited company? 

As per the Companies Act 2013, the company name should be unique, and the name should reflect the business object.

7. What documents are required for Private Limited Company Registration in India? 

All proposed directors should provide identity proof (like Aadhar/Passport/DL/any other government-issued ID, Utility bills as address proof, a copy, PAN Card (for Indian Nationals) and Passport (for foreign nationals). No-objection Certificate must be submitted by the owner of the registered office premises.

8. What is a DSC & DIN? 

The DSC is a digital signature certificate which is issued by the certifying authority to sign the electronic documents. DIN is a director identification number. DIN is allocated along with Certificate of Incorporation through SPICe Form.

9. What is the validity of the Private Limited Company Registration? 

A Private Limited Company Registration certificate issued by the registrar of the company shall be valid throughout the life of the company.

10. Can an NRI become a Director in a Company? 

NRI can become a director in a Pvt. Ltd. company and there is no requirement of obtaining the prior approval of the government or RBI however at least one director must be a resident of India.

11. What is the minimum investment required to set up a Private Limited Company in India? 

For Private Limited Company Registration in India, there is no requirement of minimum Paid-up Share capital or contribution.

12. What if I don't have any partner? Can I Register my Private Limited Company with my family members? 

Yes. You can register your Private Limited Company with your family members and later you can transfer shares if you want.

13. Is GST Registration mandatory for the private limited company? 

GST Registration is not mandatory until the turnover of your company reaches 20 lakh rupees or 10 lakh rupees in case of the northeastern state.

14. Can I apply for Startup India registration? 

Yes, startup India registration is possible with the private limited company registration. For this, you just need to register with the startup India portal. No worries, we will do this on your behalf.

15. Am I eligible to do multiple businesses under one private limited company registration? 

Yes, you are eligible for multiple businesses under one private limited company. However, you are required to mention the detail of all the businesses in the MOA of the company while going for registration.

16. How can I protect my company name or logo in India? 

For this, trademark registration application should be filed to the authority after company registration.

17. What are the prescribed minimum requirements to become a director of a Private Limited company? 

1. Any individual or company can become a director in a company.

2. An Individual must 18+ years Age.

18. Can I become a director in a company if I am already working somewhere or doing a full-time Job? 

If there is no employment contract then you can become a director in a company. But usually, you should avoid this. As your Employer will not allow you to float a company with the employment.

19. Is FDI allowed in a private limited company? 

Yes, Venture capitalist firms or angel investors can make an investment in the private limited company.

20. What are the mandatory Annual Compliances for Private Limited Company? 

Following are under the mandatory annual compliances-
1. Auditor Appointment.
2. Convene AGM.
3. Income Tax Return filing.
4. Filing of Annual Return and financial statements etc.

21. Can a private limited company be converted into any other type of entity such as LLP or OPC? 

Yes, a Private limited company can be converted into the LLP or OPC at any time by filing the appropriate forms with the prescribed government authority.

22. What is the meaning of limited liability in the Private Limited Company? 

Limited liability means that the liability in a private limited company is limited up to the contribution made by the members of the company.

23. What other registrations are required to start my own business? 

There are no such mandatory registrations however you can apply for MSME Registration or Trademark Registration or FSSAI License or Patent Registration as per your requirement.

24. What is the Private Limited Company Registration Fees? 

The government fees for Company registration is approximate Rs. 3500 and you can hire a CA/CS their fees may be in the range of Rs 5000 to 10,000 depending on their expertise and quality of work. The experienced CA/CS is able to give you error free MOA & AOA Draft as a well right selection of company business activity in Spice form. Always avoid fresher or Non-CA/CS firm in case you are hiring a company registration consultant in your city.

25. Can I convert my existing One Person Company to Private Limited Company? 

OPC can be converted to Private limited subjectively you have a paid-up capital above Rs. 50 lac or annual turnover is more Rs 2 Cr. The conversion of OPC to Private limited company may take time between 15 to 25 days.

Private Limited Company incorporation by thelawplanet.com

Private Limited Company incorporation by thelawplanet.com

One Person Company

One Person Company

  

OPC Registration in India! Get your OPC Registration before it gets too late!

Get Started Now - 

  • DSC&DIN
  • OPC Name Reservation
  • MOA& AOA
  • Corporate Identification      Number
  • Registration in 15 days      assured
  • 100% Money Back

Introduction of One Person Company

One Person Company or OPC is a kind of proprietorship firm where the company is formed by a single person. Getting One Person Company Registration is very easy. Thelawplanet.com is one call away from your OPC Registration.

What is One Person Company Registration in India?

The One Person Company was recently grown up as the strong improvement over the sole proprietorship. It is entirely a new concept which gives full control over the company to the single promoter while limiting its liability or duties to contribute to the business.

However, there is no road to raise an equity funding or offering the employee stock option in One Person Company in the early stage of the period. Into the bargain, If One Person Company anytime hits an average three- year turnover of over Rs 2 crore or has paid- up capital of over Rs 50 lakhs then it must be turned into the private limited company or public limited company within the six months.

Thelawplanet.com has a track record of registering thousands of One Person Company in India. Thelawplanet.com is working round the clock to serve their client the best consultancy and service.

One Person Company Registration under Companies Act 2013

Section 2 (62) of the Companies Act, 2013 defines OPC as a company which has only one person as a member.

Looking at the legal nature of OPC then we will see OPC can be registered only as a private limited company.  This means that all the provisions that are applicable to the private company will be applied to OPC unless otherwise expressly excluded in the act or rules made thereunder.

Procedure for One Person Company Registration in India

  • Apply for DSC 

For One Person Company Registration, one needs to apply for DSC. DSC is a Digital Signature Certificate which is necessary to file the one person company registration documents. DSC is used for filing the electronic documents at ROC. To obtain a DSC you need to provide us the scanned documents and details and our team will get back to you and fill your form and submit that online.

  • Obtain the DIN 

Once you get your DSC, the next step is to obtain the Director Identification Number of the proposed director in SPICe Form along with the name and the address proof of the sole director.

  • File the Name Approval      Application 

Now, the next step while incorporating an OPC is to choose a name for the company. The name of the company will be in the form of “XYZ” (OPC) Pvt Ltd Company.

You can register the name of the company in two ways-

  1. Make an application in the      Spice Form or
  2. Using RUN Form web service      of MCA where you are permitted to give two proposed names and one      re-submission while Reserving Unique Name (RUN) for the company.

Once the name is approved by the MCA we can move to the next step.

  • Drafting of MOA and AOA 

For OPC registration, one needs to prepare the Memorandum of Association (MoA) and Article of Association (AoA). These two documents are the most important document for OPC registration.

MoA describes the object of the company, the power of the company and on the other hand, the AoA will detail about the rights and duties, rules and regulation that will be followed in the course of business.

These documents need professional research and knowledge of the law, so it is advisable to draft these documents with the help of professionals. Thelawplanet.com has the back of the highly professional team who will draft your documents with deep research and expertise.

  • The signing of Memorandum      and Article of Association

The MoA and AoA of the company must be signed by the sole member who is also going to be the subscriber of the memorandum in which the details like his name, address, description, and occupation will be discussed. The documents will be signed in the presence of the at least one witness who must also attest the signature and must also sign and give the details.

Documents Required for OPC Registration

  • Submission of MoA and AoA

MoA and AoA are the two important documents that need to be submitted at the time of OPC registration.

  • Affidavit of the subscriber      and the Director 

The affidavit will be submitted by the proposed director in the consent who has subscribed to the memorandum and article of association in the Form INC- 9 and DIR-2.

  • Consent of Nominee

As you know, One Person Company is formed by One person and there is no certainty of life so to avoid any future chaos a nominee on the behalf of such person is appointed. Furthermore, in case the sole member becomes incapacitated or cannot perform duties the nominee will perform the same duties on the behalf of the director.

His consent will be filed in Form INC-3 along with the PAN Card and Aadhar Card.

  • Proof of the Registered      Office 

Documents like Aadhar Card, Electricity bill; Phone Bill is required to submit as the identity proof whereas the proof of the registered office of the proposed company along with the proof of ownership and a NOC from the owner. If in case the property is on rent then a Rental agreement is required. 

  • Filing Forms with MCA 

All the documents attached to SPICe Form- MOA and SPICe-AoA along with the DSC & DIN of the Director and will be uploaded to the MCA site for the approval. After submission of SPICE form, PAN and TAN will be automatically issued by the MCA. No seprate form is reqquired to be filed for PAN and TAN. 

  • Certification of Documents 

A declaration submitted by professional certifying that all documents are made properly.

  • The issue of the Certificate      of Incorporation 

After the verification, the Registrar of Companies will issue a Certificate of Incorporation and we can commence our business.

You can easily register your One Person Company Online. You just need to prepare your documents and contact us. We will do after work.

Minimum Requirements for OPC Registration in India

OPC Registration in India

What are the Eligibility Criteria for OPC Registration?

The following is the eligibility criteria for OPC Registration in India. Only a natural person who is a citizen of India and resident in India-

  • is  a person who 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 one      year
  • If an OPC exceeds a turnover      of over Rs 2 crores or has a paid-up capital above Rs 50 lakhs. It must be      turned into a private or public within six months.

Advantages of One Person Company Registration in India

  • No Minimum Capital 

There is no minimum capital required for OPC registration. However, the maximum Authorize capital of One Person Company shall not exceed Rs 50 lakhs at any point in time.

  • Limited Liability

There is a limited liability related to One Person Company which means the liability on the Director is limited. The personal asset of the Director won’t be attached to the debt of the business. The property is safe.

  • Less Compliance 

The compliances under OPC registration are very less as compared to any other company. Minimum paperwork is done.

  • Continuous Existence 

The death or illness or incapacity of the director won’t disturb the ongoing process of the company as the nominee director will hold the rope to continue the business.

  • Greater Credibility 

As an OPC needs to have its books audited annually, it has the greater credibility among the vendors and the lending institution.

  • Easy to Set up and maintain 

Thelawplanet.com registers the One Person Company in the blink of the eye.

  • No legal Disputes 

Now, when the company will be registered with one person then there is no chance of any legal disputes arises between the director and any chance of ego clashes which usually happen.

Difference between One Person Company and Sole Proprietorship

  

OPC


Sole Proprietorship

 

OPC has   a separate legal entity


No   distinction between the owner and the business

 

Liability   of the shareholder limited


Sole   liability

 

Higher   compliances compared to sole proprietorship


Lesser   Tax Implication

 

Succession   with nominee


Succession   through execution of WILL

How to Convert an OPC to a Private Limited Company?

When mandatory conversion of One Person Company to Private Limited Company is needed in the case when OPC stands on some parameters like-

  • The effective date of the      increase in the paid-up share capital of a One Person Capital beyond      rupees 50 lakhs and
  • An increase of annual      turnover in preceding three consecutive financial years beyond rupees two      crores

If any time the OPC fulfill the above criteria the company shall be mandatorily required to convert itself into either a private or a public company.

Voluntary Conversion of OPC to Private Limited Company

  • OPC cannot incorporate      itself into the private company or public company before two years has      been passed from the date of incorporation.
  • If the time period has      elapsed and two years have been passed then OPC can convert itself into a      private company or public company.
  • The conversion should be      according to the rules and regulations that are laid down by the Companies      Act, 2013 under section 18 and Rule 7(4) of the Companies (Incorporation)      Rules, 2014

Mandatory Compliances for One Person Company Registration in India

The following are the basic mandatory compliance for One Person Company Registration which is as follows:- 

  • At least one Board Meeting      in each half of the calendar year and the time gap between the two Board      Meetings should not be less than 90 days.
  • Maintenance of proper books      of accounts.
  • Statutory audit of Financial      Statements.
  • Filing of business income      tax returns every year before 30th September.
  • Filing of Financial      Statements in Form AOC-4 and ROC Annual return in Form MGT 7.

The Penalty for Non-Compliance of One Person Company in India

If an OPC or any officer of such company contravenes the provisions of Co. Incorporation Rules, 2014, such contravening party will be punishable with fine which may extend to Rs. 10,000/- and with a further fine which may extend to Rs. 1000 for every day after the first during which such contravention continues.

FAQ for One Person Company Registration in India

1. Why should we choose OPC as a form of business? 

An OPC is a good option to run a sole proprietorship but under the blanket of a private ltd company.

2. Who can register an OPC? 

Only the Indian Resident can register OPCs as it has only one director as per the specification of the Ministry of Corporate Affair.

3. What is the mandatory Requirement of an OPC? 

OPC businesses shall maintain books of accounts complying with statutory audit requirements and submit income tax returns and annual filings with the RoC.

4. Is there any tax advantage available to an OPC? 

No there are no special tax advantages available for OPC. Tax is paid at the flat rate of 30% on profits.

5. How much cost is required to run an One Person Company in India? 

The Cost of the OPC is marginally lower than that of a private limited company but it takes around 12,000 to incorporate and around 15,000 a year as compliance fees or an auditor fees who will inspect the books of account will charge separately.

6. Can a director start more than one OPC? 

No, an individual can only form one OPC at a time. Furthermore, the rule applies to the nominee in an OPC too.

7. Who are not eligible for One Person Company? 

  • a minor cannot be a director      of OPC
  • Foreign Citizen
  • Non- Resident
  • Any Person incapacitated by      Contract
  • Or another person as the ROC      deems fit so

8. Do I need to be present during OPC registration process? 

OPC registration is 100% online process. No need to be present physically to our office or ministry of corporate affairs. We will send our personnel to your home or office for document signature.

9. How much time is required for OPC Registration in India? 

Usually, we register a company in 7 business days.

10. What is the validity of the OPC registration? 

A registration certificate issued by the registrar of the business is valid until infinite until you are meeting applicable compliant.

11. Why do we need to appoint Nominee in OPC? 

As we know, that the OPC is one man army but at the same time what happens if that one man gets hurt. So, for that purpose, we need to appoint a nominee. He will be not come into the picture until or unless the director met with some any consequence.

12. How much capital is required to start an OPC? 

You can start your OPC business with authorized share capital Rs. 1 lac only and there is no difference in capital structure as compared to a private limited company.

13. How to register One Person Company Online? 

After the initiation of Digital India or Skill India, you can register your One Person Company online. Just contact us at thelawplanet@gmail.com we will reach you back right after the query arises.

One Person Company Incorporation by thelawplanet.com

One Person Company Incorporation by thelawplanet.com