Benefits of OPC registration in India

One Person Company (OPC) business is a new trend in India. To start this, the company has to get one-person company registration in India. Although One-Person-Company is a different way of doing business in India. This rule was introduced in 2013 as The Companies Act, 2013 and it is a latest and easy way for new youth to start the business. Under this rule, you do not have to depend on a lot of people, like traditionally when registering companies. You may read about what are the OPC company registration benefits.

What is an One person Company (OPC) ?

OPC company i.e. one-Person-Company (OPC) is that company in which no need of more than one member it can be a single person company. This definition of OPC is defined in section 2’s sub-section 62 of the act of Companies, 2013. The structure of such a company can have only one shareholder. A shareholder can then declare a successor to someone who, in his / her sudden death or other condition, can become a shareholder of that company. One person company should have at least one director and this number can be maximum fifteen. A shareholder of an OPC company can also declare him-self a director. 

Rules for OPC Registration in India

The rules for registration of One Person company registration in India are as follows:

• First of all a company needs Digital Signature Certificate [DSC] for the director.

• After this, one has to register for Digital Signature Certificate [DSC].

• Then after that, after making sure that you want to keep the name of your company, you have to apply to the MCA (ROC) Office to know whether there has already registered a name or not.

• After this, after completing some formalities, you can register for your OPC.

By the way, registering an OPC can be a very complicated task for any single person. So if you want, there are many One Persons Firms in the market, which can help you in this. You may get the One Person Company registration benefits through read this article. 

What are the benefits of OPC registration in India?

Read the below points to know benefits of OPC registration in India

• Less compliance/complaint burden

• Different identity

• Proprietorship Company organized sector

• Less Requirement

• Succession

• Market value

• Easy credit facilities

• Easy return filing

Now know the complete steps benefits of OPC registration in details

1. Less Compliance/ Complaint burden

Under Section 2 (68) of the Companies Act, 2013, a person company is included in the definition of "Private Limited Company". Thus, an OPC is required to follow the provisions applicable to private companies. However, OPCs have been granted a number of exemptions and hence their compliance burden is less than that of other companies.

2. Different Identity

The most reliable benefit of an OPC company is that the identity of the company is different from the identity of its owner.

3. Proprietorship Company organized sector:

The OPC employs the not organized sector of proprietorship in a unified rending of a (PLC) private limited company. Individuals who are doing trading as exclusive employers of various/different types of small and medium enterprises. They can register the firm/company in the corporate industry. The OPC unified version opens the way for the much-suited facility of banking. There is always an unlimited care/liability on proprietors. If such owners conduct business through the OPC, the care of the member is limited.

4. Less Requirement

They need only one director and share-holder. There can be one person who can play a role of director and share-holder in One Person Company. In OPC there is one nominee. There has no need of any additional share capital to start the company.

5. Succession

The Companies Act also provides for a person, designated by a stakeholder, to take over the reins of the company in the event of death or incapacity of the said stakeholder. This allows OPC to live a life consistently beyond the founding director.

6. Market Value

As registered under the OPC Act, it is a private company with the same privileges as those listed by the firm.

7. Easy Credit Facilities

The legitimacy of this type of business also the successor clause only makes it popular among banks and financial institutions.

8. Easy Return Filing

Although it is mandatory for the OPC to audit its accounts and file Annual Compliance, the same can easily be done with the signature of the director; the Signature of the company (C) secretary (s) is not required.

Now the all points related to benefits of OPC company registration in India is clear. You may take the OPC company registration with ROC.