For sole proprietors and business owners who also want to benefit from restricted liability and a separate legal entity, OPC Registration opens up new business prospects. Finding the ideal partner to launch a business as the registered entity eliminates the complications thanks to OPC. It simply needs one individual to serve as a member, shareholder, and director.
A natural person must be the proprietor of an OPC. It cannot be a real person or a made-up one. You need to have an OPC registered in the state where you intend to spend at least 182 days a year living there. To incorporate one, you must be at least eighteen years old. A natural person or a legal corporation can be the owner. Whatever the corporate structure, it’s critical to think about the advantages of creating an OPC.
Any state will accept the registration of a One-Person Company. When registering your business as a One-Person Company, there are a few crucial considerations to keep in mind. You must state your business name because it is legally distinct from a sole proprietorship, which is an important fact to keep in mind. In any documents you use, it’s crucial to mention your One-Person Company. It is crucial to keep in mind that your company’s legal identity is represented by its name.
Although an OPC is not required to hold an annual general meeting, it is required to keep a minutes book that has been signed by all of the members. A one-person business cannot engage in non-banking financial investment operations or make voluntary conversions until it has been in operation for two years. There are certain limitations, though. You should confirm that you have the required paperwork before incorporating. All directors must have an OPC with a Class-II Digital Signature Certificate.
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Stakeholders can avail of 5 different services (Name Reservation, Allotment of Director Identification number (DIN), Incorporation of New Company, Allotment of PAN and Allotment of TAN) in one form by applying for Incorporation of a new company through SPICe form (INC-32) – Simplified Proforma for Incorporating Company electronically (SPICe) – with eMoA (INC-33), eAOA (INC-34). In case eMoA, eAoA are not applicable, users are required to attach the pdf attachments of MoA and AoA. There is no need for reserving a name separately before filing SPICe. One name for the proposed company can be applied through SPICe (INC-32).
Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC.
For the above purpose, the term “resident in India” means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one financial year.
Rule 3 of Companies (Incorporation) Rules 2014 provides that:
1. Only a natural person; (should not be minor)
2. Indian citizen;
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