One Person Company Registration in Haryana

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 Haryana,Checklist, Eligibility, Documents, Process, One person company registration fees, time required for registration, post registration process and FAQ's.

One Person Company Registration in Haryana

Haryana's strategic location, supportive policies, and growing economy make it an attractive destination for businesses looking to establish a presence in northern India. OPC or One Person Company is a company registration type suitable for individuals seeking limited liability for their business. The Ministry of Corporate Affairs manages OPC registration in Haryana, and compliance with specific guidelines is necessary.

To register an OPC in Haryana, you must obtain a director identity number and digital signature certificate and submit the required documents. With Vakilsearch, you can complete the entire registration process online without worrying about offline procedures.

Benefits of OPC Registration in Haryana

There are multiple OPC benefits that can help the founder to prosper. Here is a list of benefits given below:

• OPCs ensure that the company continues to operate even if the owner passes away or cannot do so
• The corporation is kept independent from the owner's personal assets by creating a separate legal entity from him or her through OPC registration
• Protection against business debts and losses is provided by the owner's liability being restricted to the amount invested in the business
• OPCs can swiftly access capital through loans and investments since they give their company more legitimacy
• OPCs simplify management and decision-making by requiring only one director
• OPCs benefit from tax advantages since the owner is able to deduct business expenses and take advantage of tax advantages for small businesses.

Checklist for Registering OPC in Haryana

• 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 Haryana

OPC Eligibility criteria for One Person Company registration is 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 Haryana

The following OPC documents are crucial for OPC registration in Haryana

• 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 Haryana

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 Haryana

The fees for OPC (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 Haryana

The time required for the registration of an OPC (One Person Company) in Haryana , 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 in Haryana

• 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 Choose Vakilsearch for Opening an OPC in Haryana?

OPC registration can be a complicated and lengthy process. Vakilsearch provides effective OPC registration services that streamline the procedure and free up your time so you can concentrate on expanding your business. Our skilled staff at Vakilsearch will handle all the required paperwork and documentation. The transaction is simple and stress-free because of their clear and reasonable price. With the help of Vakilsearch's OPC registration services, you can confidently start your own business.