What is an One Person Company (OPC) A private limited company - TopicsExpress



          

What is an One Person Company (OPC) A private limited company with single ownership Introduced in India through theCompanies Act, 2013. OPC can be defined as a registered sole proprietorship company with separate legal status. Single member/shareholder compared to minimum two members for Pvt Ltd Co and Limited Liability Partnership(LLP). Offers limited liability protection to its member, an advantage compared to a normal sole proprietorship entity. Has business continuity and easy to incorporate. Nominee required, who will become the member/shareholder of the company incase of the promoter Director’s death. An OPC must be converted into a Private Limited Company if the annual turnover exceeds Rs.2 Crore or if it’s Share Capital exceeds Rs.50 Lakhs. Audit and filling of annual return with ROC Compulsory for OPC Minimum one lakh and maximum fifty lakhs capital. One Person Company Incorporation Process Apply Digital Signature Certificate (DSC) for proposed member/shareholder – Min3days (not required if already held) Apply Director Identification Number (DIN) for the proposed member/shareholder- Min 1day-(not required if already held) Apply for proposed company name approval in form INC-1 (minimum 1 and Maximum 6 names can be given for approval)- Min 2days Apply for incorporation of One Person Company in form INC-2 along with DIR-12 and INC-22 and other supporting documents- Min 7days Open a bank account and deposit the share capital money in the account Apply for commencement of business certificate
Posted on: Tue, 02 Dec 2014 07:26:45 +0000

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