ENTITY COMPARISON GUIDE
|Members||Maximum 1||2-20||2- Unlimited||2-200||1|
|Legal Status of Entity||Not Considered as separate Legal entity||Not Considered as separate Legal entity||Considered as separate Legal entity||Considered as separate Legal entity||Considered as separate Legal entity|
|Members Liability||Unlimited Liability||Unlimited Liability||Liability of its members is limited||Limited to the extent of share capital||Limited to the extent of share capital|
|Registration||Not Compulsory||Optional/ Can be Registered under partnership Act 1932||Registered Under MCA||Registered Under MCA||Registered Under MCA and Companies Act 2013|
|Transferability Option||Not Allowed||Not Allowed||Can Be Transferred||Can Be Transferred||Allowed to only one person|
|Taxation||As in Individual||30% of Company Profit||30% of Profit Plus CESS and Surcharges applicable||30% of Profit Plus CESS and Surcharges applicable||30% of Profit Plus CESS and Surcharges applicable|
|Annual Filings||Income Tax Returns with the Registrar of companies||Income Tax Returns with the Registrar of companies||Filed with the registrar of the company||Filed with the registrar of the company||Filed with the registrar of the company|
ADVANTAGES OF ONE PERSON COMPANY
There is list of features and advantages of OPC Registration in India.
- Limited liabilities
OPC gives limited liability to business owner i.e.liability is limited to the amount you have invested.
- Better than Sole Proprietorship:
A sole proprietorship ceases to exist on the death of its promoter. In the case of an OPC, the nominee director takes over and the entity continues to exist.
- Easy transfer of ownership:
In a one person company, the ownership can be transferred by altering the shareholding, directorship and nominee director information.
- Ability to own property:
A company can own property like buildings, godowns and can be considered a legal entity.
- Identity proof of director and nominee(PAN card)
- Address proof of director and nominee(Aadhar card, Driving Licence, Electricity bill, Passport)
- Address proof of office (Rent agreement or sale deed, electricity bill, property tax receipt)
- NOC from landlord
- DSC and DIN of director
- Passport photo of director
- 1. A person is eligible for exactly 1 one person company.
- 2. A minor can not be a member or nominee
- 3. An OPC company cannot carry out Non-Banking Financial Investment activities including investment in securities of any body corporate.
- 4. If paid up capital of an OPC reaches over Rs 50 lakh or average turnover of consecutive 3 years reaches over 2 crores it must be converted into private or public limited company within six months.
|1-Digital Signature Certificate (DSC)||1-Director Identification Number (DIN)||Company Name Approval By Ministry|
|Memorandum of association (MoA) &||Articles of association(AoA)||OPC Registration Certificate|
|Permanent Account Number (PAN)||Tax Account Number (TAN)|
ONE PERSON COMPANY REGISTRATION
HERE’S HOW IT WORKS
1. Fill Form
Simply fill the above form
to get started.
2. Call to discuss
Our expert will
connect with you & prepare
3. Incorporation certificate
Get your Company
ADVANTAGES & BENEFITS
Limited Liability Protection to Directors personal assets
Many times startups need to borrow money and take things on credit. In case of normal Partnerships, Partners personal savings and property would be at risk in case business is not able to repay its loans. In a one person private limited company, only investment in business is lost, personal assets of the directors are safe.
Better image and credibility in Market
In India, OPC is a Private limited company, which is a popular and well known business structure. Corporate Customers, Vendors and Govt. Agencies prefer to deal with Private Limited Company instead of proprietorship firms.
Easy to raise funds and loans
OPC is one of the easiest forms of corporate entities to manage. Very few ROC filing is to be filed with the Registrar of Companies (ROC). No need to conduct Annual General Meeting (AGM) and other regular compliances.
Helps for Testing of Business Model and Enables Funding
The OPC business helps Startup Entrepreneurs to easily test their business model, and upon building a marketable product, they can approach Angel investors, Venture capitalists for funding and easily convert their OPC into multi shareholder Private Limited company.
Complete Control of the Company with a Single Owner
This leads to fast decision making and execution. Yet OPC can appoint as many as 15 directors for administrative functions, without giving any share to them.
Easy to Sell OPC
OPC Company is easy to sell, very less documentation and cost is involved in selling a One Person company.
Minimum 1 Shareholder
Minimum 1 Nominee
Minimum Authorized Share Capital to be Rs. 1 Lac
Minimum 1 Directors
Only Indian residents can be Shareholder & Nominee
DIN (Director Identification Number) for all Directors
The directors and shareholders can be same person
Minimum 1 Director must be Indian Resident
DSC (Digital Signature Certificate) for 1 Promoters & 1 witness
WHAT ALL YOU GET
DIN for 1 Director
MOA + AOA
Customized Incorporation Master File
Bank Account Opening Document Support
Digital Signature Token for 2 Promoters & 1 witness
Company PAN Card
Domain Name + Web Hosting
Company Name Approval
New Incorporation Kit
Company TAN/TDS Number
+ 10 Email Ids for 1 year