Subscription of One Person Company:
Subscription of One Person Company registration is following the special section 2 (62) of the 2013 act. The fundamental rule for the initiation for the OPC is the only one person could be the member in the One Person Company. The first Prviso to section 3 of the 2013 act is allowing the subscriber to the One Person Company to indicate the name of the other person, that person become the member of the company. The sole control of the company overtakes by the single owner. It is the remarkable revolution in the company registration process.
The steps of the single owner company registration are connecting with the rules no 4 of the company incorporation rules. As the subscriber to the MOA of OPC should obtain the written consent regarding the directors, nominee, and other essential information are legally intimating to the registrar of companies.
Subscription of company name:
Single owner company formation is primarily notifying with the name of the company. A company’s name is mandatorily notifying with the OPC under the expansion of “One Person Company”. It is recording with the Memorandum of Article and Association of Article. This name fixing needs to be transparent as per the rules and norm of business registration in India. Business opportunities are common one for all citizen of India. To strongly insist this principle Company registration category includes with this one person company registration as a new element.
The existence of company and its subscription names are denoting in the official records like company formation form, Company invoices, and Bank account, MOA, and AOA documents of the company. The name subscription is the notable thing in the business market. The adding of the One Person Company is explicit the status of the company and its legal proceedings.
Benefits of One Person Company:
In the business registration process fund collection is one of the tough tasks. The private company registration and public company registrations are limited with the turn over and their contribution in as a capital amount investment in the business. Now only the business initiation free from the capital investment issue. There is no limitation on capital investment relating the initiation of business formation. Funding control is the easy thing in the running of one Person company. This controlling power is enforcing through the limited liability option.
Fast way of business formation in the session of one person company registration finishes with single registration form. One person company seems to be new but the benefit of the opc includes the feature of other registration qualities. Proprietorship, Private limited company features are easily and indirectly secured by the One Person Company. All benefits are in one is the expression suitable one for the One Person Company.
Subscription limitation in the OPC:
In any form of company incorporation limitation is inevitable feature. This form of business attached with the primary thing that the business admin could initiate only one company under the formation of One Person Company. The upper class business people could not manage the One Person Company with the prescribed turn over. Residential Indian only uses this option of Single owner company formation in India. Separate identity as a registered entity under the Indian government is the higher degree reputation attaining through the choosing of One Person Company.
Taxation benefits are notable thing for more registration under the One Person Company. In the view of income tax, as a director of OPC can get the deduction by paying the remuneration. Enterprise development acts also issue the favourable subsidiaries for the business registration under One Person Company.
Process of registration in One Person Company:
Name and logo registration is helpful one for the Business registration in India. As the same thing OPC registration is not an exceptional thing in this registration procedure. Getting Digital signature and Director Identification Number are the minor process following in the company incorporation. For these minor process address proof, Aadhaar card, e-mail Id, mobile no, Pan Card, Photo graph are the necessary requirements. Additionally, online digitalization eases all these procedure in a faster way. All the business filings are completing with the fastest way.
To maintain the clear record of accounts and board meeting conducting are the mandatory provision need to follow. Whether it is a small and medium form of business undertaking with the OPC registration compliance is separate category and it is common one for all. The statutory requirement of OPC is less one than other forms of business.
Business registration comes with lot of benefits when it comes under the OPC. One person can prove their business potentiality through this form of business registration. Other than that when the new business registration exceeding its primary limit, it should convert to other forms like Private limited company or public limited company. After the conversion, the company should release from the clutches of One Person Company and move on the filing and other procedures with the conversion form. Joining other members for the development of the company is the next step after the decision of conversion from the One Person Company Incorporation.
Company registration consultants are having their day to day knowledge in the section of the company registration procedures. Subscription of the company is the easy thing. New business entrepreneurs may slightly stumbling one with this procedure. Company registration consultancy will lead their progress as a routine. They will offer enough advice on those registration proceedings.
Solubilis one of the leading company registration consultancy functioning in Bangalore, Chennai, Hyderabad, Cochin and Coimbatore. All the registration services from the ISO certification to internal trademark registration all are completing with in the fixed schedule. So, all the companies whether it is a private limited company, public limited company and Limited liability partnership al the registrations are filing with the E-process.
All the step by step procedures for the OPC formationand minor process all are done on the behalf of the client. So now registration is not an unknown legal procedure. Solubilis will guide until its completion for more details click here.