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(Documents for Directors, Nominee and Promoters)
1 Shareholder Only
Minimum 1 Directors
Minimum 1 Nominee
Only Indian Residence can become shareholder & Nominee
1 Director must be Indian Resident
Minimum Authorized capital 1,00,000
DIN of the Directors
DSC for 1 Promoter & 1 Nominee
One person to act as a director
One person to act as a member and nominee
The person should be a “resident of India,” meaning he has stayed in India for 182 days during the year before one financial year.
A major relief from the hassle of legal compliances. The company also avails multiple exemptions.
More minor requirements to fulfill, gaining complete control over the business.
A feature of perpetual succession that helps to raise capital. Being an artificial entity, It separates the owner from his business; therefore, he’s not liable for claims.
The concept of One Person Company was laid down by the Companies Act 2013 to encourage those entrepreneurs who on their own are capable of starting a venture by permitting them to make one person economic entity. A minimum of two members are required for incorporating and further maintaining a Pvt Ltd or an LLP. Although an OPC allows a single Entrepreneur to work as a business entity under limited liability protection, it does have a couple of limitations, like, every OPC must nominate a nominee Director within the MOA and AOA of the corporate - who can further become the owner of the OPC just in case the only Director is disabled. Along with this, an OPC must be converted into a Pvt Ltd if it crosses its mark of the annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs. Dr Jamshed J. Irani laid down the concept of One Person Company initially. Afterwards, this thought led to the introduction of “One Person Company” within the Companies Bill 2013, which received its assent within the Lok Sabha on 18 December 2012 and within the Rajya Sabha on 8 August 2013. After obtaining the assent of the President of India on 29 August 2013, it became the Companies Act, 2013.
The rules for incorporation of One person company states that the only member of a One Person Company should include the name of a nominee within the Companies MOA, who will further undertake the entity after the expiry or incapacity of the previous handler. Moreover, the document must have the written consent of the nominee, which must even be filed with the Registrar during incorporation alongside the mentioned MOA and AOA.
"One Person Company (OPC) is a company's legal form with only one person as a member. Companies act 2013 introduced OPC that combines the benefits of a company as well as a sole proprietorship. The concept of One Person Company (OPC) functions in contrast to the previous act when at least two individuals are required to form a company. The liability of OPC is limited to only one person."
Once a corporation is incorporated, it will gain the status of active and remain in existence till the annual compliances are met. If annual compliances aren't complied with, the corporate will become a Dormant Company and lose its existence. A struck-off Company is often revived for a period of up to 20 years.
A Digital Signature establishes the identity of the sender or signee electronically while filing documents online. The Ministry of Corporate Affairs (MCA) needs the Directors to sign a number of the appliance documents using their Digital Signature. It is essential for all Directors.
It is designated to all existing and proposed Directors. It is mandatory for all present or proposed Directors to possess this particular number. It never expires and an individual can have just one Director number.
The Authorized Capital of a corporation is the number of shares a corporation can issue in the name of its shareholders. Companies need to pay the government a licensed capital fee to issue shares during a Company. The minimum capital fee is Rs.1 lakh.
For every incorporation, a Director and a nominee are essentially required. A nominee member is one, who shall, within the event of promoter member's death or incapacitation become a member of the corporate.
Only a natural one that is an Indian citizen and a resident in India is eligible to lay down a One Person Company or be a nominee member. The Director or Nominee must even be over 18 years. One person can get involved with up to five One Person Companies.
One Person Company is usually started with any amount of capital. However, the fee must be paid to the govt. for issuing a minimum of shares worth Rs.1 lakh [Authorized Capital Fee] during the said incorporation. There is no requirement to point out proof of capital invested during the incorporation process.
An address in India where the registered office of the One Person Company is going to be situated is needed for the process. The premises are often industrial/residential/commercial where communication from the MCA is going to be received.
No, you don’t have to be present at our office/ any office for the incorporation. Scanned documents can be sent to us through email. Although, some documents also will need to be couriered to our office.
Id proof and address proof for all the proposed Directors and Nominee of the One Person Company is required. A PAN Card is essential. Along with this, a No Objection certificate needs to be furnished, signed by the landlord saying that this particular office is on his premises without any issue. The landlord’s id proof is also necessary.
Ease2Bizz can incorporate a One Person Company in 7-15 days. The time taken will depend upon the submission of relevant documents by the client and the speed of approvals. Kindly choose a unique name and ensure you have all the required documents in place.
For a One Person Company quickly, take care that the proposed name is extremely unique. Names that are similar to an existing company/trademark/limited liability partnership will get rejected and additional time will be required.
First of all, our team completes the entire process in less than 10 days because of its skills and knowledge. Also, working with the best talents of the market, we closely keep a tab on all the amendments made to various laws. We also make it a point to keep you updated with all kinds of compliances. We also inform you about all the requirements on time.
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Let our consumers’ reviews shed a little more light on our services!
You can forget about all compliance once you choose Ease2Bizz. They have prompt and professional services, I will definitely recommend it to others.
I literally had my company registered in 5 days. I couldn't have been any more satisfied.
Highly professional services, I will recommend to everyone!
Highly professional services, I will recommend to everyone! They have commendable services, I really loved their work.
For the past few years, I was having issues focusing on my core business. Then Ease2Bizz helped me with my focus and now we are not only growing but more importantly working with our ideal clients!