What is OPC Registration in India?
Introduction: One Person Company (OPC) registration is a new concept introduced in India with the Companies Act 2013. It allows a single person to establish a company with the features of a company and the benefits of a sole proprietorship. In this article, we will discuss the basics of OPC registration in India.
Summary:
- OPC is a new concept introduced in India with the Companies Act 2013.
- It allows a single person to establish a company with the features of a company and benefits of a sole proprietorship.
- Before the enforcement of the Companies Act 2013, a single person was not able to establish a company.
- OPC has lesser compliance requirements than Private Limited Companies.
- A company can be formed with just 1 director and 1 member according to Section 2 (62) of the Companies Act 2013.
- An individual who may be a resident or Non-resident Indian can register an OPC in India.
Conclusion: OPC registration in India is a simple and cost-effective option for entrepreneurs who want to establish a company with limited liability and retain control of their business. With lesser compliance requirements than private limited companies, OPCs are a popular choice for small business owners in India.
Documents required?
- PAN Card
- Passport
- Voters Identity Card