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ONE-PERSON COMPANY (OPC) PRIVATE LIMITED
WHY ONE-PERSON COMPANY (OPC) PRIVATE LIMITED?
The concept of One Person Company (OPC) in India was introduced through the Companies Act, 2013 to support proprietor to start their own single person private limited.
One Person Company is a new type of business entity that allows a single entrepreneur to operate a corporate entity with limited liability protection.
An entrepreneur, proprietor can start his own registered business without third party intervention.
Though this concept is new in India, it has been very popular abroad, including in Singapore, USA, even Europe.
BENEFITS OF REGISTRATION OF ONE PERSON COMPANY (OPC) PRIVATE LIMITED
ORGANISED PROPRIETORSHIP
One-Person Company (OPC) Private Limited will bring the unorganized sector of proprietorship into the organized version of a private limited company.
Various small and medium enterprises, doing business as sole proprietors, might enter into the corporate domain by registering One Person Company (OPC).
TAX BENEFITS
A One-Person Company (OPC) Private Limited registered under Companies Act 2013 & having turnover up to 250 Crore are taxed @ 25% Per Annum, whereas Partnership, LLP are taxed @ 30 %. The Proprietor are taxed as per slab rate, Proprietors have income above 10 Lakhs are taxed at 30%.
A director can receive remuneration, you can rent your property to company can receive rent, as a creditor you can lend money to your own company and earn interest. Directors’ remuneration, rent and interest are deductible expenses which reduces the profitability of the Company and ultimately brings down taxable income of your business.
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DISTRIBUTION OF INCOME @ 100%
Company can pay salary to director @ 100% of net profit.
Partnership & LLP can pay salary to Partners in follow ratio:
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On first 3 Lakh of Book profit or loss - 1, 50,000 or 90% whichever is more.
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On Balance amount- @ 60% of Book Profit.
Partnership & LLP has to pay tax @ 30 % plus Cess on balance book profit.
REGISTRATION WITH UNIQUE NAME
Registration of One-Person Company (OPC) Private Limited with Central Government (Ministry of Corporate Affairs) with unique name not be same or similar to the name of any existing company or a trademark.
MULTIPLE BUSINESS FROM SINGLE PLATFORM
All the multiple diversified business can be operated from single platform of One-Person Company (OPC) Private Limited.
EASY LOAN
Better borrowing capacity from banks and public, Banks & financial institute provide funds to company rather than to individual proprietary concern or partnership firm.
BETTER CREDIBILITY & INCREASE IN VALUATION
The One-Person Company (OPC) Private Limited offer greater creditability than that provided by unregistered proprietorship or partnership or LLP.
Gradually increase in valuation of your business venture, as your business progress.
LIMITED LIABILITY OF MEMBERS
CHANGES IN MANAGEMENT IS EASY
Changes in the Board of management of a One-Person Company (OPC) Private Limited can easily and swiftly be made just through filing some simple forms with ROC.
Limited liability of member in company debts.
In a case of default, banks/creditors can only sell company’s assets but not personal assets of directors.
Whereas, the liability of proprietor is limited.
PERPETUAL EXISTENCE
Separate Legal Perpetual Existence of Business, doesn’t get affected by death of member or director.
COMPANY CAN HOLD PROPERTY
Company can hold residential or commercial property in its own name. The Company can enter into transactions in its own name.
ANNUAL COMPLIANCES
The One-Person Company (OPC) Private Limited requires to get their financial Statement (Balance Sheet & Profit & Loss Account) audited every year & file Annual Return & Audit Financial Report to Registrar of Companies (ROC).
DIS-ADVANTAGES OF ONE PERSON COMPANY (OPC) PRIVATE LIMITED
ONLY ONE MEMBER
OPC can have minimum & maximum of only one member.
RESTRICTED BUSINESS ACTIVITY
OPC cannot carry out Non – Banking Financial Investment activities including investment in securities of anybody corporates.
NO FDI
No Foreign Investment is allowed in OPC.
DOCUMENTS FOR REGISTRATION OF PRIVATE LIMITED COMPANY
DOCUMENTS OF DIRECTORS/MEMBERS
(FOR MINIMUM 2 MEMBERS)
Passport size photo.
PAN Card.
Aadhar Card or Passport or Voter Id or Driving License (Any two).
Copy of Bank Passbook, Bank Statement, Mobile Bill or Telephone Bill (not more than 2 months old).
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DOCUMENTS OF REGISTERED OFFICE ADDRESS
Electricity or Phone Bill or Mobile Bill of office address.
Landlord NOC (Format will be provided).
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OUR PACKAGE
ALL INCLUSIVE PACKAGE INCLUDES
Digital Signature Certification of 2 Director.
DIN of 2 Directors.
Unique Name Search & Approval.
Authorized Share Capital of upto 15 Lakhs.
Incorporation Certificate, MOA & AOA.
PAN Number & TAN Number.
Bank Account Opening Documents.
PF & ESIC Registration
Professional Tax Registration
Government Fees.
Stamp Duty.
Professional Fees.
Advise from Expert.
