Easy Guide for OPC Registration by Enterslice

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This PDF Doc Contains how to register one person company in India. Step by step guide on what is OPC, How to register this and what are the requirements.

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Presentation Transcript

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One Person Company The Registration Guide by Enterslice Fintech 01 ENTERSLICE FINTECH

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02 ENTERSLICE FINTECH Section 2 62 of Companies Act says a company with only one person as its member falls under the criteria of One Person Company or OPC. OPC is owned and managed by one person only. Moreover all the members of the OPC are followers to its memorandum of association or its shareholders. What is a One Person Company

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Apply for FSC Apply for DIN Name Approval Application Documents Required Filing Forms with MCA Easy Steps for Incorporation 03 ENTERSLICE FINTECH

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ENTERSLICE FINTECH 04 ELIGIBILITY CRITERIA is  a person who is eligible to incorporate an OPC Indian Citizen 01 A resident of India is a person who has stayed in India for at least 182 days in the preceding one year 182 Days 02 is eligible to be a nominee for the sole member of an OPC Registered ID 03 If an OPC exceeds a turnover of over Rs 2 crores or has a paid-up capital above Rs 50 lakhs. It must be turned into a private or public within six months. No Limit 04 The following is the eligibility criteria for OPC Registration in India. Only a natural person who is a citizen of India and resident in India-

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ENTERSLICE FINTECH 05 Advantages of OPC There is a limited liability related to One Person Company which means the liability on the Director is limited. The personal asset of the Director won’t be attached to the debt of the business. The property is safe. 2. Liability on Director is Limited There is no minimum capital required for OPC registration. However the maximum Authorize capital of One Person Company shall not exceed Rs 50 lakhs at any point in time. 1. No Minimum Capital The compliances under OPC registration are very less as compared to any other company. OPC registration process can be done with minimum paperwork. 3. Fewer Compliances

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ENTERSLICE FINTECH 06 More... As an OPC needs to have its books audited annually it has greater credibility among the vendors and the lending institution. 5. Greater Credibility The death or illness or incapacity of the director won’t disturb the ongoing process of the company as the nominee director will hold the rope to continue the business. 4. Continuous Existence Now when the company is registered with one person then there is no chance of any legal disputes arises between the director or any other third party. 6. No legal Disputes

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ENTERSLICE FINTECH Address Proof Aadhar Card Photo Email-id PAN Card Phone Number Apply for DSC 07 The proposed directors must obtain Digital Signature Certificate DSC which cannot be obtained without submitting the following documents:

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08 ENTERSLICE FINTECH Obtain the Director Identification Number DIN of the proposed Director. Provide the details like name and address proof of the proposed director in SPICe form. Now up to three directors can apply for the DIN within SPICe form. Apply for DIN

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09 ENTERSLICE FINTECH Once you have applied for DSC and DIN the next step is to process for name approval application. The name of the company will be available in the form of “ABC OPC Private Limited”. There are two ways to get name approved: first is to make application in Form SPICe 32 or the second way is to use RUN Web service of MCA by providing one preferred name along with the reason of keeping it. Though on March 23 2018 Ministry has come to a decision to permit two proposed Names and one re-submission RSUB at the time of preserving Unique Names RUN for the companies. Name Approval Application

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10 ENTERSLICE FINTECH Memorandum of Association states why the company come into existence. Article of Association AoA consists of the laws on which the company will operate. A proof of nominee consent in Form INC-3 along with nominee’s PAN card and Aadhar card. NOC from the owner and proof of registered company office Affidavit of the proposed director in the Form INC-9 and DIR-2 respectively Documents...

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11 ENTERSLICE FINTECH Conducting a minimum two board meetings as stated under the Act. Statutory audit of financial statements by a chartered accountant Appointment of Auditor Filing of ITR Annual filings to the registrar of companies Keeping up statutory registers Form AOC-4 for financial statement MGT-7 for an annual return Mandatory Compliance

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12 ENTERSLICE FINTECH OFFICIAL CHANNELS facebook.com/enterslice Facebook official_enterslice Instagram Enterslice Twitter

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13 ENTERSLICE FINTECH Thank you Questions Clarifications Let us know TALK TO US 9 8 7 0 3 1 0 3 6 8 M o b i l e 9 8 9 9 7 2 4 8 7 1 M o b i l e i n f o e n t e r s l i c e . c o m

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