Methodology features of one Person Company and it vary from private and public company:
Methodology features are always common one in every type of company registration. Reserving the perfect name for the One Person Company (OPC) registration, allotment of director if any person appointing as the director or otherwise, a same person can be the shareholder and director of the company. Incorporation processes PAN and TAN procedure for the company initiation and made them in the company name is very crucial one. Without applying for RUN form SPICe form is very essential one. Peculiar form INC -32 is recommending for the initiation proceedings.
Methodology feature of RUN form for the OPC registration:
Electronic form of E-MOA and e-AOA are the basic and notable difference comes in between the OPC registration process. Name availability is the central thing and reason for the using of this RUN form. Some registration following the corresponding address and register office can be different one. Membership changes can also acceptable process in the company registration. Obviously, it is one of the complex situations for the registration formality. Incorporation of OPC is a crucial one and OPC incorporation will starts after the approval of the RUN form. Moreover it takes nearly 20 days of time.
Changes in the OPC membership:
This change of condition is clear cut one. Directors’ is applicable one for the appointment option in the OPC registration. Unexpected death of the shareholder is the only way which paving for the new member addition in this type of company registration. Changing the membership or ownership is the mandatory proceeding. The last minute changes are major complex process for the membership addition. Apart from the family member is the negative prospect in the company registration process. At that time, new member addition is the vital one. One Person Company registration is following all these process in a strict way.
Methodology limitation for the business enlargement:
Paid up capital is the direct investment from the shareholders of the company. It is a common thing that the One Person Company registration is following the same procedure. Up to the fifty lakh rupee is the major limitation is following in the company registration procedures. After three consecutive year proceedings with the annual turnover consolidation it exceed the limit of two crore rupee it voluntarily changing or converting into the other options of Limited liability partnership company registration or private limited company, public limited company. This intimation is following with the particular form INC-5 without any further requirement.
Methodology offer of OPC:
One Person Company registration is following the ultimate condition that the conversion proceeding must follow the sixty days of time period. The exceeding of the share capital is the essential thing in the modification procedure. Not only OPC to private and public but also the huge form of companies also can modifiable one according to the OPC company registration formalities. Average turnover not more than two crore rupees can approach this formal way of business stream without any complexities. Nominee approval is common one as per the companies act. So, private limited structure and the liberty of the sole proprietorship is the possible with this registration process.
For the business enlargement, voluntary conversion is following with the INC-6 form. OPC registration is following with this manner of procedure. The need of business expansion with the increase of the capital share is following with the voluntary conversion with the span of thirty days of time. Apart from the conversion there is strict limitation is especially made for the OPC registration. Minimum 180 days stay in India is the obligatory process for the opc formation. Indian citizen can only promote the business with the Methodology option of OPC. Residential Indians are allows for the OPC formation.
Methodology benefits of One Person Company:
OPC registration is the hybrid form of the business registration. It is combine the features of both the sole proprietorship and Private limited company’s structure. A native Indian citizen allows to starts single OPC form of business. It is motivating the business of individual without the complex of partnership feature. Easy of incorporation getting loan and other beneficiaries are applicable with this OPC registration. Comparing with the other form of business registration it is a good one with 15 days completion of registration. This modern form requires only 15-20 days for the complete OPC registration process.
Eligibilities of One Person Company:
Less paper work and documentation is the initial eligibility for the OPC registration in India. Maintenance wise this form of business progress is requires the less effort. Liability of membership is totally avoiding with the single person ruling. Single shareholder feature and multiple director appointment are possible with this single person company. Compliance is too easy one. It never is the complex process for the company registration functionality. There is no limit for the collection of the authorise capital in the One Person Company registration. Not only for this feature moreover overall the limited companies never requiring the minimum share capital.
In the mode of transparency, Small scale and medium scale industries are promoting through the One Person Company registration. Withdrawal consent from the nominee needs to submit within 15 days of time period. Digital signature certification, DIN registration, Name reservation are the fundamental process not changeable one in this firm registration. Change of nominee deciding in the minimal time schedule is the biggest complexity in the registration process. Penalties are of the One Person Company is solidly high. Try to avoid the penalties completing all the process is essential one.
Company registration is not only helpful for the one person company. ISO certification and consultation, FSSAI license, factory license, sanitary license, Legal metrology certification are the essential and crucial one. Barcode registration is considering as the important registration and commonly using the commercial market. Now a day major registrations are concentrating for the world of business registration and compliance. Get ready for the entire subordinate certificate also. For more details to know the registration just click here.