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Want to know more about One Person Company ( OPC ) Incorporation , CLICK HERE to send an Enquiry

ONE PERSON COMPANY (OPC)

Do you want Registration of a Company in Chennai ?

 

Do you want Incorporation of a Company in Chennai?

 

Do You want Private Limited Company registration in Chennai ?

 

Do you want Public Limited Company Registration in Chennai ?

 

Contact us and we provide all Company registration services in Chennai and also the Post registration services such as Accounting , Auditing , Statutory compliances such as VAT , Service tax , IEC (Import Export Code) , PF ,etc.,

 

Click here to send an enquiry to us and we shall take care of the rest.

                 As a boon to the budding entrepreneurs, the new concept of One Person Company (OPC) has been introduced by the new Companies Act, 2013.

 

                 Before introduction of One Person Company (OPC), the Proprietorship Firms/Companies in India were not regulated by any law with regard to its incorporation and operations.  This was a major stumbling block for proprietors while representing themselves to others for the business. In spite of this, only proprietorship firms were most in number in India due to its easy operability and legal requirements.

 

                 In order to regulate these type of Proprietorship firms and also to provide opportunity to Proprietorship firms to upgrade themselves as a Corporate entity but still hold the main characteristics of the erstwhile Proprietorship firm, One Person Company (OPCs) has been introduced.

 

Salient features of One Person Company (OPC)

 

1) One Person Company (OPC) has only one shareholder (or) member of the Company.

2) One Person Company (OPC) can be registered only as as Private Limited Company.

3) One Person Company (OPC) shall have a minimum paid up capital of Rs. 1 Lakh.

4) Transfer of Shares of the One Person Company is restricted.

5) One Person Company (OPC) cannot invite for subscription of shares of the company.

6) The Words “One Person Company” shall be mentioned below the name of the company.

7) Only a Natural Person & a person resident in India can incorporate a One person company.

8) At the time of Incorporation of the One Person Company (OPC), the sole member is required to appoint another person as his nominee.

9) The nominee appointed as above shall become a member of the company in the following circumstances :-

                 (i) If the sole member/shareholder dies; or

                 (ii) If the Sole member becomes incapacitated to contract (Insolvent,etc..,)

 

10) One Person Company can have maximum paid up capital of 50 Lakhs or Turnover of Rs. 2 Crores. If these limits are exceeded, OPC needs to be converted in to a regular Private Limited Company.

11) The provisions relating to Board Meetings, Annual General Meeting, Extra ordinary General meeting , Minutes of meetings are not applicable to the One Person Company.

12) OPC can have one or more directors on its board. It can have maximum of 15 directors.