ONE PERSON COMPANY REGISTRATION

WHAT ARE YOU WAITING TO GET STARTED?

NOT SURE ABOUT HOW TO GET YOUR BUSINESS REGISTERED SOLELY?

With Mibook getting your one-person company registered in India has become very reliable and convenient.

Introduction

With the enactment of the Companies Act, 2013 small business entrepreneurs and traders got motivated to get their businesses registered legally and develop the identity for their business. All those who have the potential to do something on their own can now be a part of a registered company and get their one-person company registered in India with the help of Mibook.

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one person company registration in bangalore

UNDERSTANDING THE CONCEPT OF A ONE-PERSON COMPANY

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An OPC is a type of Private Limited Company where the minimum and a maximum number of members are one and you can get one person company registered in India without the need for any other individual. The One Person Company (OPC) was recently introduced as a strong improvement over the sole proprietorship.

One-person company registered in India has the limited liability of its members, unlike in a partnership firm. It gives a single promoter full control over the company while limiting his/her liability towards the contributions to the business. This person will be the only director and shareholder (there is a nominee director, but with no power until the original director is incapable of entering into a contract). The OPC is one of the most credible establishments and preferred kind of Proprietorship.

The major benefit of one-person company registration in Bangalore is that only one person is required to begin the business which leads to very less complications. An entrepreneur has the authority over their own domain in the case of One Person Company (OPC) whereas, in the case of a Private Limited Company or LLP a minimum of two members is needed to be incorporated.

One Person Company came into existence in order to create empowerment for the individual entrepreneurs where they can shape their own ideas into business. Keeping in view the progress and development in the usage of information technology services and growth in the service sector, the government of India has launched the concept of OPC.

FEATURES & RESTRICTIONS OF ONE-PERSON COMPANY REGISTRATION

To be able to get the one-person company registered in Bangalore, India with the service of Mibook an individual needs to observe some important features and restrictions set by our constitution.

Only an Indian Citizen (Resident) can become a member and nominee of the OPC

A natural person cannot become a member of 2 OPC at a time

Minor cannot become a member or nominee of OPC and he cannot even hold share with the beneficial interest in OPC

OPC cannot be formed to carry out NBFC activities including investment in securities of any other body corporate

The company shall put the words (OPC) with the name of the company like XYZ (OPC) Private Limited

It can have more than 1 director but not more than 1 shareholder

OPC, like a private or public limited company, also has a distinct identity from its shareholder or directors

ROC Compliances for meetings & other e-filings are lesser as compared to Private Limited Company

one person company registration in bangalore

ELIGIBILITY CRITERIA

one person company registration in bangalore

In order to maintain the authenticity of one-person company registration in Bangalore the govt. of India has set the eligibility criteria that need to be met by you. Mibook provides services to register the company successfully and conveniently to those who are able to meet the following eligibility criteria:

Minimum 1 director

Maximum 1 shareholder/1 nominee

Director and Shareholder may or may not be the same persons

The shareholder & nominee must be an Indian Resident Citizen

Minimum capital requirement is NIL

DIN of the directors

Digital Signature of shareholders and directors.

DOCUMENTS REQUIRED FOR OPC REGISTRATION

Mibook assists with one-person company registration in Bangalore once the applicant submits the following documents:

PAN Card

Aadhar Card

Photo ( Of Director and Nominee)

Latest Bank statement or any bill that bears the name of the Director or the nominee

one person company registration in bangalore

THE PROCESS AT MIBOOK FOR ONE-PERSON COMPANY REGISTRATION IN BANGALORE

Day 1 - 2:

1. Review of documents and information provided
2. Application for Digital Signature Certificate

Day 3 - 6:

1. Checking Name availability
2. Drafting of MOA, AOA& other required documents

Day 7 - 9:

1. Name reservation application under SPICe
2. Filing company registration application
3. DIN allotment applications
4. Application for PAN and TAN of company

Day 10 - 12:

1. Government processing time

HOW ONE PERSON COMPANY REGISTRATION IN BANGALORE CAN BENEFIT YOUR BUSINESS?

Status of a separate legal entity:

A one-person registered firm in Bangalore receives the status of a separate legal entity. Here the liability of the member is limited to his or her shares and he or she is not personally liable for all the losses and profits that are incurring.

Easy to obtain funds:

The company is a separate legal entity; it is easy to raise funds through venture capitals, angel investors, incubators, etc. one-person companies registered in Bangalore get loans more easily than a proprietorship firm. It is very easy to obtain funds.

Easier to manage:

The company is a separate legal entity which makes it easy to raise funds through venture capitals, angel investors, incubators, etc. One-person companies registered in Bangalore get loans more easily than a proprietorship firm. Thus it is very easy to obtain funds for OPC companies.

Conveniently managed:

The one-person company registered in Bangalore is easier to manage as it can be established as well as run by one single person. The decision-making is easy and quick. Thus managing a company is easy as there won't be any conflict or delay in a response within the company.

Fewer Compliances:

There are certain exemptions to the OPC when it comes to compliances under the Companies Act 2013. Such as there is no need for the Company Secretary to sign the books of accounts and annual returns as these can be signed only by the director.

Comparision

one person company registration in bangalore