One Person Company Registration
One Person Company Registration is introduced in Companies act, 2013 considered as one of the modern forms of business solely for the one person-one owner of the company. The main reason for such step is to promote the entrepreneurs and micro enterprises having turnover less likely than 2 crores. It should be noted that the director or the nominee must be Indian resident. One-person company can be formed with only single person, being director as well as shareholder of the company. One-person company registration must be registered under the guideline stated by the ministry of Corporate affairs (MCA).
If any company crosses turnover of Rs. 2 crore and gains a fund of Rs 50 lakh and over, must be transformed into a private limited company or public limited company within six months of such development. Benefit given to the sole owner is the limited liability, where personal property of the owner is always safe no matter how much debt of the business is. Unlike sole proprietorship, One-person Company does not end with the death of owner, passes on to the nominees and continue to exist. In order to register the one-person company, all the businesses must submit income tax returns, preserve books of accounts, obey required statutory audits.
Benefits
- Legal existence of the business.
- Limited liability in case of any debt on the business owner.
- Unlike other companies, Minimum requirements for the formation of the entity.
- Credit rating will not impact the company.
Documents Required for One Person Company (OPC) Registration;
Owner's Documents
- 1. Photo
- 2. PAN
- 3. Aadhar Card
- 4. Mobile No & Email Id
- 5. Highest Qualification
- 6. Place of Birth
Registered Office Documents
- 1. Latest Electricity Bill of Business Address.
- 2. Rent Agreement of Business Address, If Rented
- 3. No Objection Certificate (NOC).
Other Information
- 1. Proposed Business Name.
- 2. Share Capital Amount.
- 3. List of top 5 Business Products/Services
- 4. One Nominee Documents: Photo, PAN, Aadhar, Mobile No & Email Id
FAQ
1What is LPP?
The LPP stands for Limited Liability Partnership it is a better version of a general partnership firm. It is governed by limited liability partnership act 2008.
2 What are the minimum required partners to start LPP?
Minimun 2 Partners are required to start a LPP. There are no limit on the mximum number of in a LPP.
3How much investment is required to start a LPP?
Unilike a private ltd company no minimum capital required to start a LPP.
4 What is the legal proof of LPP Firm?
A legal proof of LPP is certificate incorporation as well as LPP agreement.
5 What is LPP agreement.?
LPP agreement is similar to a partnership deed where all the rights, liabilities and share of profit and loss are mentioned/drafted.
6Can I name my LLP whatever I want?
Name allotment as desired by you is wholly a discretionary power of ROC. Normally ROC is allot your desired business name if it is unique and not resemblinding with any existing company/LPP.
7 Is DSC required for LPP firm?
Yes, DSC of an authorised director is required while in corporating an LPP.
8 Do you provide this service in my town?
Yes, Charted Help is an online platform serving all over india no matter wherever you are doing your business all you need is internet connection on your mobile or desktop and we are ready to get your done.
9 Do i need to physically present to for the process?
No, You don't need to be a physically present for the process.E-startupindia is an online catering platform all you need is internet connection in your phone/desktop and required document with and we can get the job done no matters even you are present at remotest location of the india.