one person company registration in  Hyderabad

ONE PERSON COMPANY REGISTRATION

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ONE PERSON COMPANY

One Person Company (OPC) is a ground breaking concept introduced by the Companies Act 2013. In this form of entity one can register a business with just one shareholder cum director and limited regulatory cost. In OPC the sole shareholder needs to declare a person who would be liable to operate the business entity if the director becomes disabled.
When a business entity registered as OPC reaches a turnover of 2 crores or if the capital paid exceeds RS 50 Lacs, it has to change its constitution to a private limited company.


Advantages of registering as One Person Company

- Funding is easy through venture capital, financial institutions, angel investors etc.
- Limited liability to the extent of the value of shares
- Reasonable and Minimum Compliance.
- Minimum risk of dilution of equity as there is a single owner.


FAQs

Who is a director & how is he different from a shareholder?
Director is an appointed or elected member of the board of directors of a company, who, with other directors, has the responsibility for determining and implementing company’s policies. Directors act on the basis of resolutions made in directors' meetings. Directors derive their powers from the corporate legislations and the company’s articles of association. The Duties and responsibilities for directors are prescribed under the Companies Act 2013.


What is DSC?
Digital Signature Certificate (DSC) is a secured electronic format of signature which is used for signing electronic & online documents, forms for e-tenders, ROC requirements, IT & PF returns, etc.


What is MOA for One Person Company?
A Charter document that regulates a company's external activities. The memorandum of association is drafted with the information relating to the company's name, names of all members (shareholders) and number of shares held by them, and location of its registered office. It also states the company's
(1) Objectives,
(2) Amount of authorized share capital,
(3) Whether liability of its members is limited by shares or by guaranty, and
(4) What type of contracts the company is allowed to enter into.
A Company cannot do any act which is beyond the Memorandum of Association.


What is Certificate of incorporation?
A signed statement by the Registrar of Companies declaring that a company is duly incorporated under the respective statutes. Itis an exclusive evidence that the company has been formally incorporated and complying with all the procedures prescribed under the act.


What is share capital and what is the minimum share capital for starting a One Person Company?
The Minimum authorized share capital required for One Person Company having share capital is INR 1,00,000/-.


Who can start a One Person Company?
Only a person who is an Indian citizen and resident in India shall be eligible to start & act as a member and nominee of an OPC.


I reside outside Hyderabad/Telangana can I get services from you?
Absolutely you can avail our services from anywhere within/outside India. As most of the procedural aspects are Online, the experienced team at Numbro will guide in all the procedural aspects of getting the company Registered.


What is a One Person company?
The concept of One Person Company [OPC] is a new form of business, which enables the entrepreneur who are carrying on the business in the Sole-Proprietor form of business to enter into a corporate Form of business. This enables him/her as a director of the company at concessional/relaxed requirements under the Act.


What is DIN?
DIN stands for Director Identification Number which is unique and is issued on request of the ROC to every person who intends to become a director. DIN is mandatory for a person to be appointed as Director.


What is AOA for One Person Company?
The Articles of Association is a well-defined and clearly recorded document that defines duties and responsibilities of its Directors. The Directors shall function according to the Rights entrusted with them as per the AOA, and cannot carry out any activity beyond the AOA.


How many directors are required for One Person Company?
An OPC must have a minimum of one director, the sole shareholder can himself be the sole director. The company may have a maximum number of 15 directors.


Which form of business can be converted into for One Person Company?
A Sole proprietorship that has an intention to have limited liability can opt for a One Person Company.


Can a NRI start a One Person Company in India?
Non-resident Indians or individuals who do not reside in India for over 182 days cannot incorporate an OPC.


What are the yearly compliances with respect to ROC (companies act) ?
A Statement of Disclosure of Shareholders and Directors has to be filed within 60 days of the date of Annual General Meeting.
Annual Accounts is to be filed before 30th October every year.


What are the yearly compliances with respect to Income Tax, Service Tax and VAT?
Income Tax: A One Person Company has to pay an advance tax on a quarterly basis if the tax liability payable during the year is more than INR 10,000 and has to file income tax return on a yearly basis.
Service Tax: One Person Company has to comply with the service Tax once the service value is more than INR 9 lakhs.
Sales Tax: A One Person Company form of business can apply for TOT registration if the sales turnover crosses INR 5 lakhs and can apply for VAT registration once the sales turnover crosses INR 50 Lakhs.

"If opportunity doesn't knock, build a door" -Milton Berle

one person company registration in  Hyderabad
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  • Numbro Consulting Private Limited,
    Narayana Enclave, Plot No 610,Road
    Number 33, Cafe Abbott Lane, Jubilee hills,
    Hyderabad – 500033.