Company IncorporationOPC

How Much Does it Cost to Register an OPC In India?

An OPC, wherein a single member incorporates a company, is registered under the Companies Act, 2013. The government fee and the professional fee charged for the registration of an OPC are dependent on various key factors.

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A One Person Company (OPC), is favored for a number of reasons, the ease of incorporation being the most pivotal one. Yet, the process requires the submission of a few standard documents and the procedure has to be followed to a ‘t’, just like in the registration of other corporate entities.

Registration of an OPC:

An OPC, due to fewer compliances, can be registered relatively easily when compared to other corporate structures. The following steps are to be pursued to register an OPC.

Step 1: Obtaining the Digital Signature Certificate (DSC)

A DSC is mandatory to authenticate the forms and documents that are submitted in the MCA (Ministry of Corporate Affairs) portal. Various identity proofs such as Aadhar card, PAN (Permanent Account Number) card, passport size photo of the directors, and contact details such as email id and phone number are required to obtain the DSC.

Step 2: Obtaining the Director Identification Number (DIN)

The Director of the OPC should hold a DIN mandatorily. An application for the same is made by submitting the identity and address proof of the director concerned.

Step 3: Name of the Company

The name of the OPC must be unique and not bear any resemblance to the names of the existing companies or trademarks. The name is subject to the approval of the MCA.

Step 4: Prerequisites for Registration

  •   MoA (Memorandum of Association) and
  •   AoA (Articles of Association)
  •   A nominee appointed by the shareholder of the OPC, who would take the role of the latter if the person dies or becomes incapacitated to enter into contractual obligations
  •   Consent of the nominee and the director
  •   Address proof of registered office the proposed OPC

Step 5: Filing of Forms

The MoA and AoA and other proofs stated above have to be attached to the SPICe (Simplified Proforma for Incorporating a Company Electronically) Form, SPICe-MoA, SPICe-AoA, along with the DSC of the director and should be submitted in the MCA portal for approval. The PAN (Permanent Account Number) and TAN (Tax Deduction Account Number) will be generated thereafter.

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Step 6: Certificate of Incorporation

Once the documents and forms are verified by the Registrar of Companies (ROC), the certificate of incorporation is issued.

Cost of Registration of an OPC:

The registration charges of an OPC are dependent on a number of factors. The major deciding factor is the nominal share capital invested by the company. The government has fixed a slab of ₹ 2,000 for a nominal share capital not exceeding Rs 10 lakhs. For every additional ₹10,000 of the nominal share capital within Rs 50 lakhs, an additional fee of ₹200 is charged. The government, in a move to encourage entrepreneurship, had waived off the incorporation fee.

The fee pertaining to the registration of an OPC is also inclusive of obtaining the DIN and DSC of the directors of the company, stamp duties to be paid during the registration which is dependent on the state in which the OPC is getting registered, filing of various forms, etc.

Also, it is always recommended to seek the help of experts to register a company, whether an OPC or any other type of company. Therefore, a professional fee is a way of investing, to get the first step of establishing the company, clean and perfect, which is the registration of the OPC. Once again, the professional fee to be paid depends upon the complexity of the task at hand and various other factors.

For instance, An OPC would merely want help to register the company alone, while another, with a futuristic approach, may delegate the tasks of filing the accounts and GST along with the registration of the company. In such circumstances, the professional fee would vary. In general, the registration fee would range from ₹7,000 to ₹30,000. The time duration for registering an OPC would be close to 10 working days.

With so many procedures in line, the registration of an OPC may seem overwhelming. We, here at Vakilsearch, can help you prioritise the tasks and can facilitate the seamless registration of your One Person Company. We can help you move step by step with various processes from obtaining the DIN and DSC for the directors to getting the bank account operational for the company. When it comes to business, we leave no stone unturned and do everything possible to make not just your life but also your business easier!

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