One Person Company Registration In Chennai
The newest member of the Incorporation Family, the One Person Company, or OPC for short, was added by the Companies Act of 2013. The ability for a single person to incorporate a company through ROC is being offered for the first time in Chennai.
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One Person Company Registration in Chennai
Intellecto Filings, offers One Person Company Registration in Chennai. OPC is a private company with only one director and one shareholder. It provides the benefit of limited liability to sole proprietors and start-ups, allowing them to transition from an unstructured proprietorship business to a structured private company. One Person Company (OPC) is a separate legal entity that is governed by the Ministry of Corporate Affairs (MCA) and is registered under the Companies Act, 2013. It has a perpetual succession and is owned by a single individual who acts as both the shareholder and director of the company. OPC registration in Chennai can be done online, as per the regulatory rules and guidelines of the MCA.
Benefits of One Person Company Registration in Chennai
The advantages of registering a One-Person Company in Chennai are numerous.
- One of the major benefits is the limited liability protection it offers to its shareholders, meaning that their personal assets are not at risk in case of any legal or financial issues.
- Additionally, it is easy to manage as it requires only one person to manage the company’s affairs, making it ideal for entrepreneurs who are just starting out.
- Furthermore, One-Person Companies are eligible for certain tax benefits such as lower corporate tax rates and exemptions from certain taxes, which can help the company save money and increase its profits.
- Lastly, it offers more flexibility than other types of companies as it can be easily dissolved or restructured if needed, making it ideal for entrepreneurs who want to experiment with different business models without having to worry about long-term commitments.
Documents Required for Private Limited Company Registration
- PAN Card of the Promoter
- Aadhaar Card of the Promoter
- Address Proof of the Promoter (Voter ID, Driving License, Passport, etc.)
- Bank Statement of the Promoter
- Memorandum of Association (MOA) and Articles of Association (AOA)
- Digital Signature Certificate (DSC) of the Promoter
- Incorporation Certificate from the Registrar of Companies (ROC)
- Certificate of Commencement of Business (CCB) from the ROC
Checklist for OPC Registration in Chennai
- The first step in the OPC registration process is to obtain a Digital Signature Certificate (DSC). This is a mandatory requirement for filing the e-form for OPC registration.
- After that, each of the directors of the proposed OPC must obtain a Director Identification Number (DIN).
- The third step is to draft the Memorandum of Association (MOA) and Articles of Association (AOA) of the proposed OPC.
- The fourth step is to file e-Form INC-29 with the Registrar of Companies (ROC). This form is used to register an OPC with the Ministry of Corporate Affairs (MCA). Upon approval, a Certificate of Incorporation will be issued by the ROC.
- The fifth step is to obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) from the Income Tax Department.
Procedure of One Person Company Registration in Chennai
The process for registering a One Person Company (OPC) in Chennai is as follows:
- Obtaining a Digital Signature Certificate (DSC) and Director Identification Number (DIN)
- Applying for the company name with the Ministry of Corporate Affairs (MCA)
- Drafting the Memorandum of Association (MOA) and Articles of Association (AOA)
- Filing the e-Form INC-32 with the MCA along with the MOA and AOA
- Paying the registration fees and obtaining the Certificate of Incorporation
- Obtaining PAN and TAN for the company
Eligibility Criteria for Registration of One Person Company in Chennai
In order to be eligible for registration of a One Person Company Registration in Chennai (OPC) in Chennai:
- The individual must be an Indian citizen and resident of India.
- The individual must have a valid Permanent Account Number (PAN).
- The individual must not be a member of any other OPC.
- The individual must not be a director in any other company.
Our Support
For a successful OPC Registration, it is recommended to appoint an attorney with Company Incorporation experience. To avail our services for the procedure, purchase a plan for expert assistance, add queries regarding OPC Registration, provide documents to Intellecto Filings, prepare an application for OPC Registration and complete all admissibility criteria for preliminary screening. After completing the procedural actions, you will get your OPC Registration done at your doorstep. To start the process, you must provide the necessary information and make the payment. The attorney will begin working on your request once all the information is provided.
FAQ
Who is eligible to register for a One Person Company Registration In Chennai?
An Indian citizen who is 18 years of age or older and a resident of India can register for a One Person Company. To do so, they must possess a valid PAN card and an Aadhaar card.
How long does it take to complete the OPC Registration process in India?
The OPC registration process in India typically takes between 7-10 business days to complete.
Can a Non-Resident Indian (NRI) form a One Person Company (OPC) in India?
Yes, a Non-Resident Indian (NRI) can form a One Person Company (OPC) in India. However, the NRI must have a valid Indian address and a valid Indian passport to be eligible to form an OPC. Additionally, the NRI must appoint a resident Indian as a nominee director for the OPC.
What is CIN Number of a One Person Company Registration In Chennai?
A Corporate Identity Number (CIN) is a unique 21-digit alphanumeric number assigned to all types of business companies registered in India, including One Person Companies, Producer Companies, Section 8 Companies, Limited Companies, Private Limited Companies, and Nidhi Companies.