Every One Person Company in India must obtain GST Registration within 30 days of incorporation under the Goods and Services Tax Act. GST registration is required if the annual turnover exceeds ₹40 lakhs (or ₹20 lakhs in Special Category States), or if the OPC supplies goods intra-state or provides goods and services online.
OPCs must maintain proper books of accounts to reflect a true and fair view of the company’s financial status. These accounts must be audited annually by a qualified auditor appointed by the OPC. Accurate accounting is essential for statutory audits, annual filings, and Income Tax return submissions.
A registered office in India is essential for a company. The documents for address proof should be current (within the last 2 months). In addition to the utility bill, you must provide a Rent Agreement or Sale Deed for the office premises, along with a No Objection Certificate (NOC) from the landlord, granting permission to use the space as the company’s registered office.
To get started with your OPC registration, a Compliance Manager from Ebizfiling will reach out to you to gather your documents and provide a simple checklist. You will need to complete the checklist and submit it along with your documents for verification. Our expert team will review your documents and proceed with the necessary registration procedures. Throughout the process, your dedicated Compliance Manager will keep you informed about the progress of your OPC registration.
Once we receive your documents and completed checklist, we will initiate the process for your Digital Signature application and apply for name approval for your One Person Company. You can suggest up to two unique names for your company, which should reflect the nature of your business. We will submit the name application through Part A of the SPICe+ form to the Ministry of Corporate Affairs (MCA). This step usually takes 1-2 days to complete.
After the name is approved, we will draft the Memorandum of Association (MOA) and Articles of Association (AOA) for your OPC. We will then file the incorporation documents with the MCA using Part B of the SPICe+ form, along with the subscription statement. The MCA generally approves these documents within 4-5 days and issues the Incorporation Certificate with CIN, PAN, and TAN. You can then proceed to open your company’s bank account.
To form a One Person Company, you need a minimum of one director. However, there must be at least one nominee who will take over the company in the event of the director's death or incapacity.
A nominee in a One Person Company is an individual appointed by the sole member to take over the management of the company in case of the member's death or incapacity. The nominee ensures the continuity of the company’s operations.
Yes, you can appoint your wife as your nominee for your One Person Company. The nominee can be any individual who is willing to take over the company’s affairs if necessary.
Yes, you can change the nominee of your One Person Company after incorporation by filing the necessary forms with the Ministry of Corporate Affairs (MCA).
Yes, if an OPC’s paid-up share capital exceeds ₹50 lakh or its average annual turnover exceeds ₹2 crore in the preceding three financial years, it must be converted into a Private or Public Limited Company.
Yes, NRIs (Non-Resident Indians) and foreigners can hold shares in a Private Limited Company in India, subject to compliance with the Foreign Exchange Management Act (FEMA) regulations.
To intimate the Registrar of Companies (RoC) about the exceeding of threshold limits, you need to file Form INC-6 for the conversion of OPC into a Private or Public Limited Company along with the necessary documents and fees.
No, a person cannot be a member of more than one One Person Company at the same time. This restriction is intended to prevent conflicts of interest and maintain the singular nature of the OPC structure.
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