OPC Registration in Assam

One Person Company Registration in Assam

One Person Company (OPC) is a form of company registration that provides limited liability for individuals running a business. The Ministry of Corporate Affairs manages the OPC registration process in Assam, which requires compliance with specific guidelines. Assam's growing economy makes it an attractive destination for businesses looking to establish a presence in Northeastern India.

To register an OPC in Assam, one must obtain a director identity number and digital signature certificate and submit the required documents. However, with Vakilsearch, the entire registration process can be completed online, without offline procedures.

OPC Registration In Assam - Benefits

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

• 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 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
• 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 Assam

• 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 Assam

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 citizen & resident 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 Assam

The following OPC documents are crucial for OPC registration in Assam

• 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 Assam

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. Proof of identity, address proof, and photographs of the director are some of the documents required.

• 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. Make sure 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

  A bank account Is required to start your business, open a bank account in the name of the newly formed company and launch your commercial operations after receiving the incorporation certificate. To prevent legal problems, make sure all required registrations and compliance criteria are met.
  
  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 Assam

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 Assam

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

• 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 (One Person Company) registration services in Assam, streamlining the process and making it hassle-free for entrepreneurs. Our team of experienced professionals handles all the paperwork and documentation, and we provide affordable and transparent pricing, ensuring a hassle-free transaction. We provide upfront and reasonable pricing, which makes the whole process stress-free. Entrepreneurs in Assam can confidently launch their own enterprises without worrying about the difficulties of OPC registration with the help of Vakilsearch.