OPC REGISTRATION IN BANGALORE @ Rs 8500
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OPC registration in Bangalore offers a viable alternative to running a sole proprietorship. It's ideal for those seeking to start a business independently with minimal initial investment. Governed by the Companies Act, 2013, an OPC in Bangalore requires just 1 director and 1 member as the sole owner.
At Shoplegal, we ensure seamless online OPC registration in Bangalore, abiding by MCA compliance and regulations. OPC involves fewer requirements and compliances compared to other business forms. Shareholders in a single person company enjoy limited liabilities, confined to their invested amount.
We assist in name search for OPC registration in Bangalore and handle pre and post-registration compliances diligently.
An OPC, though registered as a private limited company in India, shares the same taxation as private limited companies under the income tax department in Bangalore. Importantly, personal and company assets of shareholders and directors remain separate, shielding personal assets from business debts.
Shoplegal simplifies the entire OPC registration process in Bangalore, offering clear guidance and assistance. Our dedicated expert teams ensure timely updates on the registration process through emails and WhatsApp, making the entire process straightforward for business owners.
FAQ on One Person Company
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What is the minimum requirement to form a one person company?Registering a company is effortless with Shoplegal. A single person can serve as director cum shareholder. Required proofs include PAN and Aadhar copies, along with one of these: Driving license, Voter ID, or Passport for permanent address. Additionally, submit one of these: Telephone bill, Electricity bill, Mobile bill, or Bank statement for present address proof. Simplify the process with guidance of Shoplegal.
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What way one person company is differentiated from proprietorship ?In a One Person Company, shareholder liability is restricted to the subscribed share capital. Unlike sole proprietorships, the shareholder's liability is limited, ensuring legal responsibility extends only to the invested capital.
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What is authorized capital and paid up capital?The authorized capital is the maximum share amount a company can issue. Paid-up capital, however, refers to the shares issued and subscribed by shareholders. Post incorporation, authorized capital can be increased as needed to issue more shares to shareholders. This flexibility allows for adjustments based on future requirements.
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Is it mandatory to deposit paid up capital subscribed by shareholder in bank account?After company registration, open a bank account in the company's name. Then, transfer the subscribed capital to this account. File the commencement of business within 180 days post incorporation to ensure compliance.
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Can foreigner or foreign company or nri register a one person company?NRI, foreigners, or foreign entities cannot establish a One Person Company (OPC).
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Is it mandatory to setup office for registering company in india?Every Indian-registered company needs a registered office for official communications from government bodies, banks, and more. The office location can be anywhere in India.
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How to check availability of name with ministry of corporate affairs?Feel free to share names using SHOPLEGAL's name availability link. We'll provide available names based on searches for similar registered names with MCA.
Single owner
To set up a One Person Company, eligibility requires the individual to be an Indian resident and citizen.
Directors
A company must have at least one director, and the sole shareholder can also serve as the sole director. The maximum number of directors allowed for a company is 15.
Capital requirement
A One Person Company can commence with any capital amount. If the paid-up capital reaches or exceeds 50 lakhs, the OPC status changes to that of a private limited company.
Less compliance
One Person Companies face fewer compliance burdens than private limited companies. This allows OPCs to focus more on essential core areas of their operations.
Control with single
person
This leads to swift decision-making and execution. However, one can appoint up to 15 Directors in the OPC for managerial roles.
Applicability
OPCs are suitable only for individuals. If an OPC surpasses a paid-up share capital of Rs. 50 lakhs or a turnover of Rs. 2 crores, it must convert into a Private Limited Company.