One Person Company Registration
One Person Company is the right business structure that helps in running a business individually. OPC is best for the entrepreneur who wants to form a company with limited liability. Are you planning to run an OPC business? Contact Taxlegit and get your OPC registration by availing of our exclusive offer!.
OverviewA one-person company is a great choice for you if you are not sure of the financial future of your startup. If you are looking to make a profit, get funding or simply gain more experience in the start-up world, one person company can be the right option for you. One Person Companies are benefiting largely in developing the overall economy of India. More and more Entrepreneurs are coming up and commencing their business. By incorporation of OPC, the company can enjoy the benefits in banking point and are eligible for Banking loans, credits. So, if you want to start up your own business, you don’t have to worry about all the network and slow processes. You can easily register One Person Company under the outlines of the companies Act 2013. One Person Company is a type of Private Limited Company.
Benefit Of Small Scale Industries
Some of the benefits to small scale industries are:
- Independence – It allows the industry to grow according to its vision without being dependent on other people.
- Flexibility – It enables them to decide their working hours, has more control over money, and allows changes in the workforce according to their needs.
- Quality – They can set up quality standards which can be followed by all their employees.
What are the Restrictions on One-Person Company?
- You can have only one person as the owner of a company
- You can have only one class of shares in your company
- You cannot own more than 49% of the voting shares in your company.
- You can’t be a partner in another business
- You can’t own more than one property
- You can’t have more than one bank account
- You must be an Indian citizen or a permanent resident of India.
- You can’t have a partnership with someone else to form a company
Eligibility Criteria for Registering a One Person Company
- You must be an Indian citizen
- You must have a valid address in India.
- You must have a valid PAN card
- The minimum age for registering a company is 18 years.
- You must have a minimum of one employee working for you.
- You must have a minimum of Rs.10, 000/- in your bank account for the first year of operation.
Get Register your One Person Company with Taxlegit
Taxlegit is one of the platforms which coordinate to fulfill all your legal and financial requirements and connect you to expert professionals. Yes, our clients are happy with our legal service! We provide our best packages to clients in that we include
- DIN for 1 Director
- MOA + AOA
- Customized Incorporation Master File
- Bank Account Opening Document Support
- Digital Signature Token for 2 Promoters and 1 witnesses
- Incorporation Certificate
- Company PAN Card
- Domain Name + Web Hosting
- Company Name Approval
- Company Name Approval
Frequently Asked Questions
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