Overview on Online One Person Company Registration in Hyderabad
We strongly believe that it is Never Too Late, Or Too Early to start with your Business Ideas. Do you feel the same? There is no timeline or expiration date on becoming a successful entrepreneur. Then what are waiting for? Just Scroll down and get our Premium offers to get your OPC Registration in Hyderabad done! Hyderabad is one of the most productive metro cities of India and has also grabbed back the crown of the World’s Most Dynamic Cities in the City Momentum Index-2020. These facts are enough to give an idea about the business opportunities that one can expect from this “City of Pearls”.
Hyderabad having a great outlook both in terms of growth and development has become the obvious choice for many entrepreneurs to start their own business. There are many options like Food Delivery setup, Restaurants, E-commerce, Import Business, and Export of Hyderabad products are the good business prospects in Hyderabad that require comparatively lesser investment. We must take note that whatever business a person tends to start he/she should always keep this thing in his/her mind that conducting thorough market research is of utmost importance.
We all know that getting employment is not that easy nowadays and even if one gets a job, the salary being offered is not satisfactory. Owing to this trend even the Honorable Prime Minister of India Shri Narendra Modi made a statement: that do not try to become employable become an employer instead. So if you are planning to be an Entrepreneur, One Person Company Registration is the best option to avail, and to start a new company as a sole owner in Hyderabad, you need to register the One Person Company with the Registrar of Companies. Then what are you waiting for? Get your OPC registration done in Hyderabad from one of the leading Company Registration Consultants in India and avail the best advantages of One Person Company. We provide comprehensive assistance and best Pre and post services related to OPC Registration.
Business Structure of One Person Company
A One Person Company (OPC) is a new form of business in the corporate history of India. A new progressive plan was introduced to promote self-employment and to motivate individuals who are capable of starting a business of their own. OPC enables a sole trader to convert his firm into a Limited Liability company and derive the advantages of an Incorporated Company. An OPC is a business structure, which enjoys the benefits of both a Sole proprietorship and a company form of business. Thus, it eliminates the hassles of finding the right kind of co-partner/s for starting a business as a registered entity.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. The organized version of OPC is opening the path for more favorable banking facilities.
One Person Company Hyderabad
The Eligibility criteria for One-person Company Registration in Hyderabad
- Only a natural person who is a resident of India in the preceding calendar year can form OPC. Note-Resident means a person who has stayed in India for not less than 182 days during the preceding calendar year.
- Only one member can form an OPC.
- The OPC formed under Section 3(1) may be either-
- A Company limited by shares, or
- A Company limited by Guarantee, or
- An Unlimited Company
- The name of the company should be unique and shouldn’t be similar to any other existing company and trademark.
- A person cannot incorporate more than 1 OPC or be the nominee of more than one OPC.
- There must be a least 1 director, and a maximum of 15 directors can be appointed in a company for OPC registration online.
- The Threshold limit of paid-up capital is Rs 50 lakh and the Average Annual turnover is Rs 2 Cr. in the immediately preceding financial year, and if the Company exceeds the limits the status of OPC is lost.
- The name of the One Person Company must include the last word as (OPC) Private Limited.
- Pre-condition to indicate the name of the other person as a nominee in the event of the death of the subscriber to become a member of the One Person Company.
What are the Restrictions implied on OPC?
The Documents required for Online One Person Company Registration in HyderabadDocuments required for One Person Company in Hyderabad are as follows:-
SPICe+ Form requires many documents for OPC registration like name reservation, DIN allotment, incorporation, issue of PAN, TAN, ESIC, EPFO, Profession Tax (Maharashtra), GSTIN, and Opening of Bank Account.
Documents required for DSC-
- Passport size photo of the applicant.
- Copy of Id and Address Proof.
- Email Id and Phone number
- Specimen Signature.
Note-For Identity proof, the applicant can go for the following documents-
- PAN Card
Note-For address proof, the applicant can go for the following documents-
- Voter ID Card
- Aadhaar Card
- Electricity Bill
- Ration Card
- Telephone Bill
- Driving License
Note-For Residential proof, the applicant can go for the following documents-
- Copy of Current Bank Account Statement/Phone Bill/Gas or Electricity Bill)
- Copy of Rent agreement
- No-objection Certificate from the property landowner
- Copy of the property (if the property is owned)
Documents Required for Online OPC Registration in Hyderabad (For SPICe+ form)
- Identity proof
- Address proof of Applicant.
- Residential address proof & Identity proof and of the nominee and the subscriber.
- Articles of Association
- Memorandum of Association
- Declaration by the Subscribers
- Declaration by the Directors
- Proof of Office Address
- Copy of Electricity or Utility Bills (It should not be older than 2 months)
- Disclosure of Director’s Interest.
- Nominee’s Consent in Form INC-3
- Any other document [If required]
Documents Required for OPC Registration in Hyderabad for AGILE-PRO-
- Copy of Address Proof of Principal Place of Business.
- Documents related to the appointment of Authorized Signatory for GST Registration.
- Copy of Resolution passed by the Board of Directors/Letter of Authorization.
- Id Proof, Address proof and Specimen Signature of Authorized Signatory for the opening of a bank account of the company and EPFO.
The requirement for Online Company Registration in Hyderabad for Declaration in form 'INC-9'-
The declaration of the member and directors are presented electronically in auto-generated in PDF format. The applicants for OPC registration have to provide a certification duly authorized by a Professional, such as Chartered Accountant, Company Secretary, and Cost Accountant.
Advantages of opting for OPC Registration in Hyderabad
Registering a one person company in Hyderabad offers many advantages. Those are as follows:-
What is the procedure for One Person Company Registration in Hyderabad?
The procedures for One Person Company Registration in Hyderabad are as follows:-
- For One Person Company Registration, it is required for the applicant to get a Digital Signature Certificate (DSC) issued by the Certifying Authority. The authenticity of all the documents (For incorporation and other compliances) is ensured by the DSC.
- Name Reservation Application through SPICe+ FORM- To ease the process of doing business, MCA has introduced a new Web FormSPICe+ AND AGILE PRO by replacing the existing SPICe form. SPICe+ form is applicable with effect from 15th February 2020.SPICe+ form includes all the procedures right from the Name reservation of the company to post-incorporation compliances.
SPICe+ form is divided into 2 parts-
SPICe+PART B-Incorporation services include-
- Director Identification Number
- Issue of PAN Card
- Mandatory issue of EPFO,
- ESIC Registration and Professional Tax registration
- Opening of Bank Account for the company
- GSTIN allotment
SPICe+ Web-form is a post-login service where New users are required to create a login account first before using the service and registered users would need to login to their account using their details. The applicant applying for name reservation, incorporation, and other integrated services together, is required to file all the necessary information in Part A and Part B.
Click on the ‘SPICe+’ Form placed under ‘MCA Services’ on the website.
The applicant can reserve the Name of the company in Part A of SPICe+. The applicant has to enter the name he/she wants to reserve, for the incorporation of a new company or for changing the name of an existing company. While reserving the name, the applicant has to enter the requisite details-
- ‘Type of Company’
- ‘Class of Company’
- ‘Category of Company’
- ‘Sub-Category of Company’
- Details of the ‘Main division” of the Company’s business activity.
- Description of the main division.
Once the details are filed, click on the ‘Auto-check’ as per the rules prescribed to administer the names of the Company.
After that, submit the ‘Part A’ for reservation of name and incorporate formalities.
The next step is to download the Part B in PDF format for filling up the associated forms (SPICe+ are AGILE-PRO, SPICe + AoA, and SPICe + MoA, INC-9 and URC-1) and for affixing the “DSC,”.
SPICe+ Part B offers services for various sections ‘Check form’ for each section. SPICe+ Part B includes the services like:-
- DIN allotment
- Issue of PAN
- Issue of TAN
- Issue of EPFO registration
- Issue of ESIC registration
- Issue of Profession Tax registration(Maharashtra)
- Details of Opening the Bank Account for the Company and
- Allotment of GSTIN.
Part B of SPICe+ and linked forms can then be uploaded on the MCA portal.
The next step is to go for a ‘pre-scrutiny’ check. After pre-scrutiny the applicant must click on the Confirmation button for the successful submission of the Application form.
After that, an SRN - “Service Request Number” will be generated for making a payment towards “OPC incorporation.” The forms will be processed once the payment is completed successfully.Note- The SPICe+ form must be resubmitted in the same manner if the authority marks it for resubmission.
Our Corpbiz group will be at your service if you require any legal advice from experts on any aspect of OPC Registration in Hyderabad. At Corpbiz we provide you a hassle-free One-Person Company Registration which would be dealt by our professionals within a time frame, subject to governmental processing time. Our team takes care of the documents required for OPC registration and helps in provide you the realistic estimation of One Person Company registration cost.
Our clients can also track at all times the progress on our platform. If you have any questions about the One Person Company Registration process, our experienced representatives are just a phone call away. CorpBiz will ensure that your communication with professionals is charming and seamless.
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