One Person Company Registration in Chennai

A one-person company (OPC) is a company that has only one member (single) and not two as in the traditional way. A single individual who is an Indian citizen and a resident of India may operate as a member and nominee of an OPC. The benefit of an OPC is the convenience of obtaining loans as well as the perpetuity. One-person company registration in Chennai allows for permanent succession and limited liability to businesses.

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How Can One-Person Company Registration in Chennai Benefit your Business?

Easy to Operate

A one-person company registered in Chennai is easy to operate because it may be founded and maintained by a single individual. The decision-making process is simple and fast. Thus, running a company is simple since there will be no controversy or delay in responding inside the organization.

The separate legal entity status

A one-person registered company in Chennai is given the identity of a separate legal entity. The member’s obligation is limited to his or her shares, and he or she is not individually accountable for all losses and profits incurred.

Quite a manageable

Because the firm is a separate legal entity, it is much easier to raise funding from venture capitalists, angel investors, incubators, and so on. Loans are easier to obtain for one-person company registered in Chennai than for a proprietorship company. As a result, funding for OPC enterprises is quite simple.

Limited Compliance

When it comes to compliance with the Companies Act 2013, there are several exceptions to the OPC. For example, the Company Secretary is not required to sign the books of accounts or annual returns, as these can only be signed by the director.

Tax Regime Flexibility

One Person Company has the right to enter into contracts with anybody, lend or pay salary to its promoter, and earn interest on payments made to its promoter.

What are the requirements for Registering OPC?

Requirements for OPC Registration in Chennai

Registering an OPC in Chennai is a simple procedure, but the following documents are necessary.

· Drafting the company’s Memorandum of Association (MOA) and Articles of Association (AOA). Both of these are essential and must be submitted throughout the registration process. Don’t forget to mention all of your company’s goals and ambitions

· Identity evidence for the director and nominee, such as aadhar card, voter card, PAN card, driving license, and so on.

· The consent of the selected candidate is necessary and must be filed on form INC-3. For registration purposes, the OPC nominee must provide their PAN card and Aadhar card.

· In Chennai, the authorized director and nominee of the One Person Company must file an affidavit in forms INC-9 and DIR-2.

· Certificate of No Objection

· During the registration procedure, residential documentation of the registered office location where business-related activities and communication are carried out must be submitted.

· A copy of the designated director’s and nominee’s PAN card

· Passport-size photos of the director and nominee, as well as the form

· The director’s DSC and DIN are required for OPC registration.

· A rent agreement is essential if you operate your business from rental properties.

OPC Registration Processes in Chennai

The following are the processes for registering an OPC in Chennai

Getting the nominated Director’s DSC: The following documents must be submitted in order to receive the Digital Signature Certificate for the nominated Directors:

· PAN card

· Photo

· Email Id

· Phone Number

· Address Proof

· Aadhaar card

Apply for Director Identification Number (DIN): Director Identification Numbers must be applied for using the SPICe Form, along with name and address verification for the Directors, whereas Form DIR-3 is only for existing firms.

Application for Name Approval: The name of the company must be written in a particular pattern, such as “ABC (OPC) Private Limited,” and there are two different ways of filing a company name. The first option is approached through Form SPICe 32, while the second method is approached via MCA’s RUN Web service by sharing a single preferred name as well as the reason for selecting it. However, as of March 23, 2018, two names and one resubmission (RSUB) can be recommended for approval by the Ministry. Despite the fact that RUN Service (Reserving Unique Names) encourages companies for its availability.

Preparation of MOA and AOA: The Memorandum and Articles of Association must be submitted to the Registrar of Companies. The Memorandum of Association states the firm’s aims, whilst the Articles of Association explain the laws that must be followed by the company.

Nominee for the Director is to be appointed: If the Director is unable to operate the firm efficiently, the nominee can take his position by submitting Form INC – 3 along with his PAN card and Aadhar Card.

Proof of office address and ownership, as well as his NOC, must be submitted. Forms INC -9 and DIR -2 must be completed, and the Director’s Affidavit and consent. Certifying documents for all compliances are attached.

Forms Filing with MCA: The documents will be attached to the SPICe Form, and the memorandum of association and articles of association will be uploaded for approval on the MCA site.

Certificate of Incorporation Issuance: After the verification procedure is finished, the Registrar of Companies (ROC) gives the certificate to start the desired company.

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Conclusion:

There are several reliable sites those are providing online OPC registration services in Chennai. They are customer-friendly, as seen by their satisfied consumers. Fair price with an outstanding attitude to their commitment, save money and offer quality work with no modifications. They are also conveniently accessible and always available.