The Ministry of Corporate Affairs (MCA) introduced the new single-person company registration process along with the Companies Act 2013.
The concept is to encourage entrepreneurship and remove the hurdles faced by solo entrepreneurs in registering their companies.
In legal terms, a company with a single director is called a One Person Company.
If you want to register a single-person company in India without any difficulties, it's best to get in touch with an expert who can help you navigate through this process.
For this purpose, we at StartEazy are here with a team of professionals for your help.
So, fill out the form on your right, and the expert will get in touch with you in the next 24 hours.
The next step to registering a single-person company is sharing the right information with your assigned agent.
For this purpose, our agent will share a form with you in which you will have to fill out all the necessary details that are to be associated with your company.
The information that you will have to share is as follows:
Nominee Information (Must be Above 18 Years)
It is important to fill in the correct information while registering, as incorrect information can lead to problems later on. Also, it will delay the process of registration.
After sharing the information, you must all present the following supporting documents:
The next step is to make the payment. The cost of registering a single-person company is divided into three categories:
The government fee for Single Person Company or OPC Registration is Rs.2000 for nominal share capital of up to Rs.10 Lacs.
If you wish to increase the nominal share capital above Rs.10 Lacs, you will have to pay an additional fee of Rs.200 for every Rs.10000 increase within the Rs.50 Lacs slab.
The professional is a reasonable charge which has to be paid to the authorized agent for providing his service.
The fee depends on the type of service and the business service provider company.
At StartEazy, we offer the complete package for One Person Company Registration at just Rs. 5990/-.
It includes the following:
The registration packages also include filling up necessary forms and submitting documents to the Registrar of Companies.
Once you complete all the above steps, sit back and relax. Our experts will do the further process and keep you updated on the registration status.
The single company registration process may take up to 9-11 business days.
In India, there are many advantages to registering a company as a single-person company.
The most important one is the ease of the registration process.
The registration process for a single-person company is much simpler than that for other types of companies. There is no need to have any other shareholder or director in the company and it can be registered by an individual entrepreneur with ease.
The main advantage of registering a single-person company is that it provides you with a separate legal identity.
Thus, it can enter into contracts and agreements, acquire assets, incur liabilities and sue or be sued in its own business name.
After registering your one-person company in India, you will be able to access multiple sources of funds.
The government of India has a number of schemes that can help you get easy access to funds for your startup.
You can also avail loans from banks and other financial institutions that are available at affordable rates for business.
One personal company has lesser compliances and regulations compared to other types of business entities.
It is because there are no other shareholders or employees to keep track of, which simplifies the process of starting and running the business.
The limited liability advantage for one person company is the most commonly cited reason for why people form a one-person company.
In a nutshell, this means that the owner of the company is not liable for any debts incurred by the business.
When you are starting your business, it is important to understand what your obligations are so that you can make an informed decision on how to structure your business.