OPC Registration in Andhra Pradesh

The One-Person Company (OPC) structure, introduced in India under the Companies Act, 2013, offers aspiring entrepreneurs an efficient and streamlined path to establish their ventures as independent legal entities. This unique framework provides solopreneurs with the benefit of limited liability protection for personal assets, enabling them to focus on operational and growth strategies without undue financial risk.

Get to know more about One Person Company (OPC) registration in Andhra Pradesh ,Checklist, Eligibility, Documents, Process, One person company registration fees, time required for registration, post registration process and FAQ’

One Person Company Registration in Andhra Pradesh

Andhra Pradesh's flourishing economy makes it a desirable destination for businesses seeking to establish a foothold in southern India. One Person Company (OPC) is a type of company registration that provides limited liability for individuals running a business. The Ministry of Corporate Affairs oversees the OPC registration process in Andhra Pradesh, which requires adherence to specific guidelines.

To register an OPC in Andhra Pradesh, one must obtain a director identity number and digital signature certificate and submit the necessary documents. However, with Vakilsearch, the entire registration process can be completed online, eliminating the need for offline procedures.

OPC Registration In Andhra Pradesh Benefits

OPC benefits are numerous and can significantly support the founder's growth and success. Some of these advantages include:

• One Person Companies (OPCs) ensure business continuity even if the owner cannot operate or passes away
• OPCs create a separate legal entity from the owner, keeping the corporation independent from the owner's assets
• The owner's liability is limited to the amount invested in the business, protecting against business debts and losses
• OPCs can quickly access capital through loans and investments due to their legitimacy
• OPCs simplify management and decision-making by having only one director
• OPCs enjoy tax benefits, including deductions for business expenses and tax advantages for small businesses.

Checklist for Registering OPC in Andhra Pradesh

• Minimum and Maximum of one member
• Appoint a nominee before incorporation
• Nominee consent in Form INC-3
• OPC name selected as per the provisions of the Companies (Incorporation Rules) 2014
• Minimum authorised capital of ₹1 lakh
• DSC of the proposed director
• Proof of registered office of the OPC.

Eligibility for OPC Registration in Andhra Pradesh

OPC Eligibility criteria for one person company registration are detailed below:

• The minimum authorised capital required for registering an OPC is ₹1 lakh
• If an OPC's turnover exceeds ₹2 crores or its paid-up capital exceeds ₹50 lakhs, it must be converted to a private or public company within six months
• An Indian resident and citizen are defined as an individual who has lived in India for at least 182 days in the preceding year
• Legal organisations such as corporations or limited liability partnerships are not eligible to register as a One Person Company (OPC)
• An OPC is not permitted to have a minor as one of its members
• An OPC must have at least one shareholder, director, or nominee present.

Documents Necessary for OPC Registration in Andhra Pradesh

The following OPC documents are crucial for OPC registration in Andhra Pradesh

• A rental agreement must be provided as proof of business location
• Copy of the water/electricity bill for the business location
• Copy of their PAN card
• A copy of the title documents must be provided if the owner owns the property
• The landlord must submit a No Objection Certificate (NOC)
• A passport-sized photograph of the owner
• Copy of their Aadhaar card or voter identification card.

Process for OPC Registration in Andhra Pradesh

Vakilsearch has simplified the whole OPC process for easy registration in 4 easy steps

Step 1: Determine Eligibility and Prepare Documentation

Before starting the company registration process, ensure all eligibility criteria are met, and the necessary documents are in place. The documents typically include proof of identity, address proof, and photographs of the directors.

Step 2: Obtain Digital Signature Certificates (DSCs) And Director Identification Numbers (DINs)

All directors of the company must obtain DSCs and DINs, which are unique identification numbers required for filing forms with the Registrar of Companies (RoC). Hence in this step, it is necessary to request DSCs and DINs for each director

Step 3: Reserve a Company Name

You need to submit a request for name reservation using Form Spice+ on the Ministry of Corporate Affairs website. Ensure that the name complies with the naming guidelines issued by the RoC.

Step 4: Apply for PAN and TAN

Now you have to apply for your new business's Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).

Step 5: Obtain an Incorporation Certificate

Once the name is approved and all the necessary documents are filed with the RoC, the RoC issues an incorporation certificate along with the PAN and TAN.

Step 6: Open a Bank Account and Start Your Business

After obtaining the incorporation certificate, open a bank account in the new company's name and start your business operations. Ensure all necessary registrations and compliance requirements are met to avoid legal issues.
Get in touch with Vakilsearch, and you can complete the entire registration process for a one-person company effortlessly in just 20 days.

One Person Company Registration Fees In Andhra Pradesh

The fees for One Person Company registration in India vary based on the authorised capital of the company. There are the government fees associated with OPC registration and it varies from state to state. Please note that there may have been changes in the OPC fees since then, so it's advisable to consult a professional from Vakilsearch for up-to-date information.

Time Required for Registration of OPC In Andhra Pradesh

The time required for the registration of an OPC (One Person Company) in Andhra Pradesh , India Varies based on multiple factors. If provided all the documentation is in order and the process follows a smooth course without any legal or procedural complications. The timeline involves obtaining Digital Signature Certificates (DSCs), Director Identification Numbers (DINs), name reservation, document preparation, filing, and final approval from the Registrar of Companies (RoC). However, the exact duration can vary based on the workload of government authorities, the accuracy of submissions, and any specific state regulations or additional requirements.

Post-registration Compliances for OPC’s In Andhra Pradesh

• Conduct at least one Board Meeting in each half of the calendar year, with a minimum gap of 90 days between the two meetings
• Maintain accurate and proper accounting records
• Subject Financial Statements to statutory audit
• File business income tax returns annually by September 30
• Submit Financial Statements via Form AOC-4 and ROC Annual Return using Form MGT-7.

Why Vakilsearch?

Vakilsearch provides effective OPC registration services that streamline the procedure and free up your time so you can concentrate on expanding your business. Our team of experienced professionals handles all the paperwork and documentation, and we provide affordable and transparent pricing, ensuring a hassle-free transaction. Vakilsearch is the ideal partner for your Andhra Pradesh OPC registration needs because of their knowledge.