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One Person Company (OPC) - OPC with TaxTrims
Proprietorship

One Person Company (OPC)

One Person Company (OPC)

# Benefits of an OPC Registration

  • 1

    Limited Liability:

    The directors' personal property is always safe in a private limited company, no matter the debts of the business.

  • 2

    Continuous Existence

    Sole Proprietorships come to an end with the death of the proprietor. As an OPC company has a separate legal identity, it would pass on to the nominee director and, therefore, continue to exist.

  • 3

    Greater Credibility

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

# Process for One Person Company Incorporation

  • Step 1

    : Check eligibility and documents

  • Step 2

    : Apply for DSC & DIN of all the directors

  • Step 3

    : Application for name reservation

  • Step 4

    : File Spice+ form for company incorporation

  • Step 5

    : Apply PAN and TAN for your new company

  • Step 6

    : RoC issues a certificate of incorporation with a PAN and TAN

  • Step 7

    : Open bank account and start operation.

# Documents Required for OPC Registration

To register an OPC Registration you need scanned copies of the following documents:

• PAN card or passport

• Passport, for NRIs and foreign nationals

• Scanned transcript of driver's license or voter’s ID

• Updated gas or electricity invoice/bank account statement/mobile or landline phone invoice

• Specimen signature or impression

• Passport-size photo.


# Note : The OPC director must self-attest to the first three documents. All paperwork for a foreign citizen or NRI must be notarized (if they are currently residing in India or a non-commonwealth country) or apostilled (if living in a commonwealth country at present).


# Documents Necessary for the Registered Office :

• Scanned transcript of current bank account statement/phone or mobile invoice/gas or electricity invoice

• Scanned transcript of rental agreement written in the English language

• Scanned transcript of a no-objection certificate from the concerned property landowner

• Scanned transcript of property or sale deed printed in English (if the property is owned).


# Note : Your registered office space needs to be a commercial premises; however, it can be the sole director’s place of residence as well.

# Package Inclusion

The following are included in OPC registration package:

• Directors identification number for 1 director

• Digital signature certificate for 1 director (If the shareholders are different from directors, then additional DSC is required for shareholders)

• Guidance for choosing the company name

• PAN and TAN

• Drafting the memorandum & articles of association, RoC filing fees for an authorized capital, government stamp duty, and certificate of incorporation

•Name approval certificate

•GST registration

• PF registration

• ESI registration

• PT registration (only applicable in Maharashtra)