Though a One Person Company allows alone Entrepreneur to operate a corporate entity with limited liability protection, an OPC does have a few limitations. For instance, everyone Person Company (OPC) must nominate a nominee Director in the MOA and AOA of the company – who will become the owner of the OPC in case the sole Director is disabled. Also, a One Person Company must be converted into a Private Limited Company if it crosses an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year like all types of Companies. Therefore, it is important for the Entrepreneur to carefully consider the features of a One Person Company prior to incorporation.
APPLYGST.COM is the market leader in company registration services in India, offering a variety of company registration like private limited company registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration and Indian Subsidiary registration. The average time taken to complete a one person company registration is about 10 – 15 working days, subject to government processing time and client document submission. Get a free consultation for one person company registration and business set up in India by scheduling an appointment with an IndiaFilings Advisor.
What is included in our package?
- Digital Signatures of directors & shareholders;
- Director Identification Number (DIN) of directors;
- Name Approval of Company;
- Registration Certificate;
- 6 copies of Memorandum of Association (MOA);
- 6 copies of Articles of Association (AOA);
- Share Certificates of shareholders;
- PAN/TAN of Company;
- Board resolution for opening current bank account;