OPC Registration in Chandigarh

One Person Company Registration in Chandigarh

OPCs, which are commonly referred to as One Person Companies, are entities that require only a single individual to be established. While an OPC can be incorporated with any level of capital, if the company wishes to issue shares worth ₹1 Lakh or more, they must pay government fees. Fortunately, if you wish to obtain OPC registration in Chandigarh, you do not need to engage in the traditional offline process. Vakilsearch offers an online option for easy submission of relevant documents to facilitate the OPC registration process.

Furthermore, to register an OPC in Chandigarh, you must provide the address of the company to be registered, as all communication from the registrar will occur at the registered address.

OPC Registration in Chandigarh Benefits

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

• Gain in Status and Credibility

  Every business that conducts its operations as a corporation enjoys a higher degree of prestige and assurance.

• Simple Funding

  A private limited company can raise funding through venture capital, angel investors, financial institutions, etc. If it is a one-person operation. Any OPC has the ability to obtain funding and transform into a privately held business.

• Only One Owner

  It is better to have a single owner than several owners. It is easy to make judgments swiftly and do business without interruption or outside opinions. People that feel a sense of belonging grow their enterprises.

• Credit Score

  OPC can still apply for the loan even though it has a bad credit rating. It doesn't matter if the One Person Company's credit score is within acceptable ranges.

Checklist for Registering OPC in Chandigarh

• 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 Chandigarh

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

• Anyone who resides in India and is an Indian national
• If a person has lived in India for at least 182 days in the preceding year, they are considered to be citizens
• Legal organisations like corporations or limited liability partnerships cannot join a one-person enterprise
• A candidate must be selected by the promoter before the fusion
• The required minimum accredited capital is ₹1 lakh
• An OPC is cautious about using a minor as one of its members
• If an OPC transverses a revenue of more than ₹2 crores or has settled up capital greater than ₹50 lakhs. Within six months, it must be converted to a private or public domain
• At least one shareholder, director, or nominee has to be present.

Documents Necessary for OPC Registration in Chandigarh

The following OPC documents are crucial for OPC registration in Chandigarh

• A copy of the owner's PAN card
• A passport-sized image of the owner
• Aadhaar card or voter identification card copy
• Rental agreement
• Water/Electricity Bill (business location)
• If you own property, a copy of the documents
• NOC from the landlord
• Important company documents like MOA and AOA.
• DSC and DIN of the director.

Process for OPC Registration in Chandigarh

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

• Step 1: Get in Touch With Expert

  Consult a registration specialist in Vakilsearch to know about the OPC registration procedure, prerequisites for eligibility, and compliance issues and make an appointment

• Step 2: Name Reservation

  To prevent duplication, the expert will assist you in choosing a distinct name for your OPC and reserving it with the MCA.

• Step 3: Preparation of Documents

  The specialist will help you prepare the relevant paperwork, including the MOA, AOA, and other necessary forms, as well as the required disclosures.

• Step 4 : Filing of Forms

  Once the documents are ready, the expert will assist you in submitting the required paperwork to the MCA through the online system. Additionally, the professional will guarantee that all the information is true and thorough.

• Step 5 : Certificate of Incorporation

  The MCA will provide a Certificate of Incorporation and the OPC will be formally registered following the application's verification. Additionally, the professional will help you get the PAN and TAN numbers for your OPC.

One Person Company Registration Fees In Chandigarh

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 Chandigarh

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

• 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?

The owner is the only person who matters most to OPC. OPC benefits from its registration. All provisions that pertain to a private corporation will be found on OPC, unless clearly indicated otherwise in the applicable Act or rules. Choose Vakilsearch for OPC registration, and take the first step towards a legally compliant business. Our hassle-free services are designed to ensure your one-person company is registered smoothly and quickly.