Raj Softech Business Consultancy is one of the leading company registration service providers in Coimbatore. We have the professional experts of CA, Cs, Lawyers, and Auditors for your flawless registration and additional legal compliances. Our company supports the formation of a business to the subordinate services like GST registration, IT filing, and ROC works.
One Person Company registration is a new form of business that is operated by an individual. One Person Company comes under the regulation of Companies Act, 2013. OPC form of business encourages the business individual to start their own business without any partnership collaboration. At the same time, this form of business enjoys the status of a company. Only one shareholder acts as the founder, owner, and shareholder of this company. The entire control of the business comes into the hand of a single individual. One Person Company is renowned as a legal entity. There is no specified amount mention as share capital to start an OPC. Director appointment is mere optional to operate this business. Annual compliances of an OPC is too minimal rather than a private limited company.
Mandatory Conversion of OPC to a Private Limited Company
Share capital limit is one of the primary factors that leads an OPC to convert into a Private Limited or Public limited company. The capital investment of an OPC should not be more than Rs. 50 lakhs. The annual turnover of the OPC should maintain the limit of Rs.2 crores. When these limitations exceed obviously the company must convert into a private limited or public limited company according to the norms of the Indian Companies Act.
An Individual can easily start a One Person Company with the option of limited liability. OPC registration follows the norms of the Indian Companies Act, 2013. A single person can easily expand to a Private Limited Company under this business structure. Investment, Capital, and Fundraising are complex-free, but business expansion is a limited one. Minimal compliance and business conventions are preferable options.
Vs SoleProprietorship
Anyone can easily start the Proprietorship form of business. This business unlike Pvt Ltd does not involve other's participation. An individual who carries the business can become the owner of the firm. Both the owner and his/her business identity are not different. The owner has to take all responsibilities and/or liability of the business. There is no proper regulation followed for Proprietorship firm registration.
Vs LLP
An LLP is a corporate body registered under the Limited Liability Partnetship Act, 2008. This form of business is similar to Pvt Ltd, but the owners are called Limited Liable Partners. This type of registration is suitable for particular forms of businesses where two or more persons are involved in the conventional partnership. Ownership Transfer is a risky process as compared to Pvt Ltd. Hence, the fund-raising is becoming a difficult part.
Vs Partnership Firm
A partnership is an agreement carried out by two or more partners. The partnership firm follows the regulation of the Indian Partnership Act of 1932. The fundraising process and business expansion are too limited. Partnership functions under unlimited liability which involves high risk of personal debt and loss.
Though it carries minimal compliance the business expansion requires all the legal compliance of a company.
Vs Pvt Ltd
A Private Limited Company is registered under the Indian Companies Act, 2013. The liability of the Private Limited Company is a limited one. Share transfer of ownership in Pvt Ltd follows the transfer deed and stamp duty.
Future Business Expansion is simple through investments raised from Venture Capitalist funding, and Fundraising, etc.
Rajsoftech business consultancy offering the complex-free process for your fast and easy company registration anywhere in India. Though it involves multiple procedures and complicated compliances our expert team will help you to register and further proceedings of your company.
Directly check the company’s name availability on the portal of the Ministry of Corporate Affairs.
Reserve Unique Name ( RUN) form fill shows the name availability checking process.
Incorporate a company under the norms of MCA through Form SPICe (INC-32)
Applying for DIN ( Director Identification Number) DSC (Digital Signature Certificate) require for company registration.
Filing the MOA& AoA (Memorandum of Association & Article of Association) for company registration
Get the company’s incorporation certification directly from the Registrar of Companies (ROC).
Applying for PAN and TAN
Opening a current account on the name of the registered company.
Passport Size Photo of Two Directors
PAN Card of Two Directors
Copy of Electricity Bill where the office opens
Rental / Sale Deed
Aadhar Card of Two Directors
Address Proof (Bank Statement)
Rental Agreement
NOC
- No Minimum Capital to Start: There is no prescribed monetary limitation for the initiation of OPC.
- Protects Owner’s Liability: As an individual business owner, OPC is limited to its liability on the amount of investment.
- High Credibility: As similar to the private and public limited companies, OPC is also renowned as a single owner company.
- Separate Legal Entity: Both the owner and company are distinct. It is the big difference between OPC and proprietorship firm.
- Easy Governance: Without annual meetings, and the approval of partners, the single owner can easily manage his business.
- Increase Potential Growth: The growth of the company is a possible one, but the growth of the company requires obligatory conversion.
Who needs to register OPC:
An aspiring business individual who wants to start a new business with a minimal amount of share capital can start his company under the form of One Person Company. Business people who want to protect their business under the option of limited liability also switch to this OPC. Otherwise, the proprietorship firms who want to convert their business to the status of a company can register under this OPC form.
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DSC
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DIN
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e-MoA (INC-33)
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e-AoA (INC-34)
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PAN and TAN
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Docs Required
About SPICe (INC-32)
SPICe form or SPICe (INC-32) is a form directly issued from the Ministry of Corporate Affairs to reserve the name, incorporate a company, allotment of PAN and TAN in a single process. A new company, producer company, section 8 companies all should file this form before their company incorporation. To apply for SPICe (INC-32), we need,
- Address proof, Id proof of the directors and shareholders
- Memorandum of Association
- Articles of Association
- Affidavit and directors and shareholders declaration
- NOC from the partners or other associates relating to the company
Description | Private Limited Company | Proprietorship Company | Limited Liability Partnership | Partnership Firm | One Person Company |
|---|---|---|---|---|---|
Legal Act | The company should be registered under Companies Act 2013 | There is no legal constitution framed by our government. | The company should be registered under Limited Liability Partnership Act 2008 | The registration of this firm is optional, but it's necessary to get registered by State Government | The company should be registered under Companies Act 2013 |
Registration Requirement | Registration under the Act is mandatory to set up business as a Private Limited Company | Registration under the Act is mandatory to set up business as a Private Limited Company | Registration under the Act is mandatory to set up business as a Private Limited Company | Both registered and unregistered partnerships are legal, but registered entity is preferred | Registration under the Act is mandatory to set up business as a Private Limited Company |
Separate Legal Entity | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. |
Liability Protection | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. |
Statutory Audit | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. |
Number of Members | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Enter your text here... |
Ownership Transfer ability | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. |
Foreign Participation | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. |
Tax Rates | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. |
Statutory Compliances | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. |
Existence | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. | Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce posuere efficitur viverra. |
Current Account Opening
For the GST filings, the current account plays a major role because all the inflows and outflows will be received through some sources. If we have a good track to start to stand with the current account it gives more clarity and transparency for all the legal persons and the promoters. For the GST filings, the current account plays a major role because all the inflows and outflows will be received through some sources. If we have a good track to start to stand with the current account it gives more clarity and transparency for all the legal persons and the promoters.
For the GST filings, the current account plays a major role because all the inflows and outflows will be received through some sources. If we have a good track to start to stand with the current account it gives more clarity and transparency for all the legal persons and the promoters. For the GST filings, the current account plays a major role because all the inflows and outflows will be received through some sources. If we have a good track to start to stand with the current account it gives more clarity and transparency for all the legal persons and the promoters.
Frequently Asked Questions
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