One Person Company (OPC) Registration | Bangalore Consulting Company

One Person Company (OPC) Registration | Consultbcc

It is a form of Company registration with single director and single shareholder.  Has a separate legal entity status and the benefit of limited liability protection to its shareholder. It must have a nominee director. It has to be converted into a Private Limited Company if it crosses an annual turnover of Rs. 2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each financial year like all types of Companies.

Time duration: 7-12 working days.

Documents required for OPC

1. PAN of Main Director and Nominee Director
2. Address Proof of Main Director & Nominee Director (Voter ID/Passport/Driving License/Aadhar)
3. Passport size photographs of Main Director & Nominee Director – 3 Nos
4. Registered Office Address Proof- Electricity bill and Rental Agreement/ownership proof (Property Tax Paid Receipt of the latest period)
5. Copy of Mobile bill, telephone bill, electricity bill or bank statement of Main Director and Nominee Director with the present address.

Steps involved for registration

1. Incorporation documents
2. Digital Signature Certificate
3. DIN- Director Identification Number
4. Incorporation form
5. Certificate of Registration
6. PAN & TAN

Compliances for OPC

1. GST Registration.
2. Filing Income Tax Return of Company on or Before 30th September every year.
3. To maintain proper Books of Accounts.
4. To Maintain Minutes Book and all statutory registers
5. To comply with SS-1 and SS-2
6. Filing of form MGT-7, Form AOC-4 every Year.
7. No intimation required to be given to ROC in case of First Auditors. Form ADT 1 to be filed within 15 days of 1st AGM of the Company

General:

1. Subscriber to memorandum is only 1 person. Directors can be more than 1 in number.
2. Member of OPC is not required to hold Annual General Meeting. Therefore, the financial statements in Form AOC-4 shall be filed with Registrar within 180 days from the closure of Financial Year.
3. All compliances applicable to Private Limited Company is applicable to OPC.
4. One Person can promote only 1 OPC and 1 Nominee Can become Nominee in Only 1 OPC.
5. Minimum Authorized Capital of OPC shall be 100,000
6. Paid-up Capital shall always be equal to Authorized Capital in case of OPC