It is easy and inexpensive to register with the OPC. The article discusses OPC registration fees and OPC registration government fees.
New business opportunities have arisen for entrepreneurs and sole proprietors who wish to have limited liability attached to their business. Directors, shareholders, or members must be individuals. OPC allows you to start a business without partnering.
How can I become a member of OPC? What information is available to me?
One Person Company is a concept that was introduced to the Company’s Act of 2013 following the Company’s Act of 2000.
An entity can be created by anyone under this concept. Before, companies could only be formed by two individuals. OPCs and companies both have similar advantages. Additionally, sole proprietorships are the best business structure to start with.
One-Person Companies (OPCs) are required to pay government fees based on their nominal capital. If an OPC has 10,000 shares, for example, government fees would be based on that number. Registration fees for an OPC are 2000 rupees. Rs. 10,000.00 to Rs. 50,000,000.00 in nominal share capital. Please add $2,000 to that amount. There will be a 200 rupee increase in the value of every Rs. 10,000 share.
There are stamp duties, DIN application fees, and form filing fees associated with the OPC incorporation process in India.
By completing Form 20A, you can register your OPC.
What are the reasons for incorporation of an OPC in India?
It is not uncommon for OPC registrations to be treated as separate legal entities in India. In addition, the member is only liable for losses incurred by the shares and is not personally liable for losses incurred by the company.
You can easily obtain funding for your project. In order to make you feel comfortable throughout the entire process, all necessary steps will be taken to ensure your comfort.
One Person Companies are separate legal entities and can raise capital from venture capital, angel investors, incubators, etc. due to the fact that they are separate legal entities. If you want to get a loan for your business, you would have a better chance of getting one if you are in a partnership.
Low compliance levels are observed
There are exemptions under the Companies Act 2013 for the OPC. It is not required to obtain signatures. Director signatures are required.
The process of incorporation is straightforward
One member and one nominee are required for an OPC. Neither member nor nominee must be a director. In India, forming a One Person Company is much easier than formianother type of business.
OPCs can be set up and operated by one person. It is relatively easy to implement. Companies can manage themselves more efficiently.
Nominating candidates is necessary. As a result of the death or incapacity of the CEO, the nominee shall step in and assume the management of the company.
IS IT WORTH STARTING A BUSINESS AS ONE PERSON COMPANY (OPC)?
Compliance Requirements of the OPC