One Person Company Registration in Jaipur

A One Person Company (OPC) registration in Jaipur, Rajasthan is the latest form of business structure in India which was introduced by the Companies Act, 2013 and abbreviation OPC stands for a One Person Company. This business structure was launched to give a boost to entrepreneurial ideas of the people who have a higher potential to begin their business venture as a one member army. These businesses are usually micro- businesses where the turnover is not likely to surpass Rs. 2 crores even in the best case scenarios.

According to Section 2(62) of Companies Act, a one-person company is a business entity which has only one individual as its member. Moreover, the company’s members are nothing but either the subscribers to the company’s MOA (memorandum of association) or its shareholders.

Therefore, an OPC can be defined as a company which has a single shareholder as its member.

The registration of One Person Company OPC in Jaipur, Rajasthan may be initiated in accordance with the guidelines of the Companies Act, 2013.  Anyone can start a company all by oneself without the complex procedures of having any partner(s). This Act has made commencing a business easier and more encouraging. The One Person Companies are an important factor in developing the overall economy of the country, because OPC gives a single person running a business eligibility for bank loans and credit points, etc.

As Per Section 2(62) of the Companies Act, 2013, One Person Company means a company which has only one person as a member.

One Person Company is bringing the Proprietorship Business into the organized version of a private limited company. Various small and medium scale businesses, that were doing their business as a Sole proprietor, have entered into the corporate sector.

One Person Company Registration in Jaipur

Advantages of One Person Company Registration in Jaipur

Limited Liability

The liability of the owner is limited to the extent of their investment, providing personal asset protection.The Company's obligation does not create any right over the Owner's personal assets.

Separate Legal Existence

an entity is registered it is born in the eyes of law which means it is separate from its owners, unlike in proprietorship firm.An OPC is owned and managed by a single individual 

Less Compliances

One Person Company, there are various exemptions as compared to private limited company like holding of Board and General Meetings .There's no minimum capital requirement for OPCs .

Perpetual Existence

An OPC enjoys perpetual succession, which means the business can continue to exist even in the absence of the owner.A Company has a perpetual existence, once it is registered lives forever 

Minimum Requirements Of One Person Company Registration in Jaipur

  • Minimum one persons as Nominee
  • Director should be Indian Resident
  • The promoter should select a nominee at the time of incorporation.
  • An OPC is restricted from functioning a minor as its member.
  • No Minimum Capital requirement

  • Minimum one person as director and member

Documents Required for Incorporation Of One Person Company in Jaipur

  • Business Address Proof
    Rented/leased:     Rent Agreement, NOC from the Owner, Latest Govt. Electricity Bill or Water Bill)
  • PAN Card of the director and nominee
  • Business Address Proof
    Owned Property     : (Copy of Registry and Latest Govt. Electricity Bill or Water Bill)

  • Identity Proof of the director and nominee (Aadhar /Voter ID/Driving License/Passport)

  • Address Proof the director and nominee (Utility Bill/Telephone Bill/Mobile Bill/Bank Statement not older than two months)

  • Passport size photo of the director
     

Process of Incorporation of One Person Company Registration in Jaipur

Step 1-Acquirement of Members’ Digital Signatures-Obtain digital signature of the proposed member and OPC

Step 2-Application for Name Reservation-The second step is to make an application for reservation of name which shall be reserved by using the web services (SPICe+) available at www.mca.gov.in along with the specified fees

Step 3-Filing Part B of SPICe+-fill the Part B of SPICe+and MOA and AOA  for registering the Company.

Step 4-Forms Uploading on MCA-After affixing the DSC on the said forms are required to be uploaded on the Ministry of Corporate Affairs following the existing process.

FAQs on One Person Company Registration in Jaipur

Q1: Can an OPC be converted into a Private Limited Company?

Yes, after reaching certain thresholds, an OPC can be converted into a Private Limited Company, allowing for further growth and expansion.

Q2: Is it mandatory to have a physical office for a One Person Company?

Yes, your OPC must have a registered office in Jaipur from the day of incorporation. However, it can be your residential address or any other valid location.

Q3: What are the advantages of opting for One Person Company registration?

OPC registration offers limited liability, perpetual existence, and better access to funding, making it an attractive choice for solo entrepreneurs.

Q4:Is it possible for an OPC registered in Jaipur to raise funds?

One Person Company registered in Jaipur can raise funds through venture capital and financial institutions.

Q5:Are OPCs required to held annual general meetings?

Unlike other entities, OPCs registered in Jaipur are not required to conduct the annual general meetings.

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