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WWW.LEGALRAASTA.COMONE PERSON COMPANY GUIDE - INDIAHi, In this video the Legalraasta team will teach our all about the One Person Company in India its definition, advantages and registration process

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MEANING OF ONE PERSON COMPANYWhat is a One Person companyThe idea of One Person Company (OPC) in India was introduced to give a boost to entrepreneurs who have great potential to start their own venture by allowing them to create a single person company. One of the main benefit of an OPC is only one member is required in a OPC, while a minimum of two members are required for forming and maintaining a Private Limited Company or a Limited Liability Partnership. An OPC since has a separate legal entity and it ensures protection to owner by limiting his liability, easy to set up and maintain comparatively.But, if an OPC exceeds a turnover of over Rs. 2 crore or has a paid-up capital over and above Rs. 50 lakhs, it must be turned into a private or public limited company within six months.

Now, what is the meaning of One Person company?

The idea of One Person Company (OPC) in India was introduced to give a boost to entrepreneurs who have great potential to start their own venture by allowing them to create a single person company. One of the main benefit of an OPC is only one member is required in a OPC.

Advantages of one person companySeparate Legal EntityAn One Person company is a legal entity and a juristic person established under the Act.Limited LiabilityMembers personal assets are safe and liability of members is limited to the assets of company.Uninterrupted ExistenceA company has perpetual existence and stays unaffected by death of any of its members or change in ownership.Borrowing CapacityBanks and financial institutions prefer lending to the company rather than proprietary firms. So it is preferable to register your startup as a One Person private limited rather than proprietary firm.Full Control as the Sole ownerThe more are the members the more longer time it takes to take a decisions and execute them. Being sole owner ensures that you can take quick decisions and executions.ADVANTAGES

One Person Company has multiple advantages.Separate Legal Entity-An One Person company is a legal entity and a juristic person.Limited Liability-Members personal assets are safe.Uninterrupted Existence-A company has perpetual existence and stays unaffected by death.Borrowing Capacity- Banks and financial institutions prefer lending to the company rather than proprietary firms. Full Control as the Sole owner- The more are the members the more longer time it takes to take a decisions and execute them.

PROCESS OF INCORPORATION

The whole process may take 13-17 days depending on the approvals from ROC

Key steps of formation of One Person Company

Here are the following steps of One Person Company.Application for registering DSC of Director.Application for DIN/DPIN.Name is Approved in 4-6 days.Drafting and Filing of MOA/AOA takes 2-3 days.Filing Incorporation Documents takes 1 day.Incorporation Certificate takes 4-5 days.

The whole process may take 13-17 days depending on the approvals from ROC

DOCUMENT REQUIRED

You will need the following documents to register OPC.Pan Card Copy, ID Proof , Residential Proof, Passport Size Photograph.

Other documents:.Latest Electricity Bill/ Telephone Bill, Rental Agreement (if rented property), Sale Deed/ Property Deed(for owned property).

Also the following documents need to be attested before the submission.MOA and AOA, Consent Letter, NOC - No Objection Certificate.

PACKAGES OF ONE PERSON COMPANYInclusionsBasic StandardPremiumConsulting/ Advisory ServicesDIN of one Director1 DSC USB Token-2 year validityGovernment Fees for name Approval and IncorporationStamp Duty For IncorporationGovernment Fee for 1 Lakh Capital Drafting of MOA and AOADrafting and Filing of all documents pertaining to IncorporationOPC Incorporation CertificatePAN Card for CompanyTan RegistrationTrademark RegistrationDomain Name

Package price (Rs.)12,49917,89919,399

You can either file the documents at the MCA office in your respective territory or use Legalraasta services for Register the OPC.

With LegalRaasta you can register the OPC by filling a simple online form available online at our website. The package for OPC starts at rupees 12499.

About LegalRaasta and TeamAbout usWe are committed to helping you grow your business and add value through our expertise. We aim to deliver a hassle-free experience so that you can focus on your core business.

Our mission is to offer affordable, quick and automated professional services to clients. Through technology, we bring numerous government/ legal forms at one place and have simplified them to be fully understood by common man. Legalraasta.com is a one destination for your legal matters relating to:Forming any type of business entity (e.g, Pvt. Ltd Co, LLP etc)Filing individual and company returnHelping on company compliances such as ROC filings & minutesProtecting work through trademark & copyrightOur teamLegalRaasta.com has been founded by a team of Chartered Accountants and professional advisors. We currently have a network of 100+ professionals including experienced Chartered Accountants, Company Secretaries, Lawyers, Cost Accountants, Chartered Engineers and Bankers.Pulkit Jain, founder of Legalraasta, has over 5+years experience in CA and Legal domain. He has worked with the top CA firms in India and has served large corporate and MNCs

Legalraasta.com is Indias top destination for legal & company matters . We can help you in Forming any type of business entity (Example Private. Limited Company, LLP),filing individual and company return, Helping companies for their compliances such as ROC filings & minutes, protecting work through trademark & copyright.

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Why Choose UsCost effectiveBusinesses are always under intense time and cost pressures. With our great packages 40% savings are ensured compared to typical CA/ LawyerExpertiseBy teaming up with us , you will have an access to network of 100+ experts. You can gain the peace of mind in knowing that your accounting tasks are done properly by qualified, experienced and knowledgeable professionals in the field.Easy Online ProcessYou dont have to deal with the typical headaches involved with face to face meeting and visiting government offices. Our process is 100% online. Fill out simple forms and you are done!!Trusted We are a trustworthy partner which has been serving startups & companies for past several years. Our growth numbers stand as a testimony: 200+ clients100+ services30+ testimonials

Partner/ Affiliations

We are an e-filing intermediary and have been facilitating filing of hundreds of e-returns. We are also registered with e-mudhra for issue of Pan cards. There are multiple other associations with CA & legal firms. Our site has been secured by SSL to protect your personal & payment details

We are a trusted partner with multiple top level expertise and affiliation, and yet cost effective.

Contact UsCorporate officeB-186, Lok Vihar, Pitampura, Delhi 110034 IndiaOur team always endevour to serve you best. Feel free to reach out to us at:www.legalraasta.comMail: contact@legalraasta.com, M: +919999379929

So log on now at legalraasta.com to Register the OPC or mail us at contact@legalraasta.com