OPC Registration in Manipur

One Person Company Registration in Manipur

OPCs, which stands for One Person Companies registration in Manipur, can be incorporated by a single individual, and can be formed with any amount of capital. However, if an OPC intends to issue shares worth ₹1 Lakh, it is required to pay a fee to the government. It's important to note that the registered address of the OPC will be used for communication with the registrar, so it's necessary to have a valid address for opening an One person company in Manipur.

Advantages of OPC Registration in Manipur

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

• Safety Net

  The single shareholder's liability in the company is only up to the unpaid subscription money registered in his or her name, according to the Companies Act, 2013. This means that his or her personal property is totally protected from the business's creditors.

• Easy Succession

  The Companies Act, 2013 also enables a stakeholder to name a successor to take over control of the business in the event of their demise or incapacity. Additionally, this makes it possible for the OPC to continue existing after the initial director has retired.

• Separate Legal Entity

  An OPC is regarded as a distinct legal entity, which allows it to bring or defend legal actions in its own name. This enhances the company's reputation and offers it a professional appearance.

• Limited Liability

  One of the main benefits of OPC registration is limited liability. This means that the company's liability is limited to the amount of capital invested, and the personal assets of the director are not at risk in case of any financial or legal issues.

• Easy to Set Up

  OPCs are easy to set up as only one person is required to form the company. The registration process is also simpler compared to other forms of companies.

Checklist for Registering OPC in Manipur

• 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 Manipur

A natural person who is an Indian citizen and a resident of India may establish an OPC (One Person Company). OPC Eligibility criteria for one person company registration are detailed below:

• An OPC can only be formed by an Indian person who lives in India
• A corporate or legal body cannot form an OPC; only a natural person may do so
• The OPC must be formed by a member who is at least 18 years old
• Only one shareholder and one director are permitted for an OPC
• It is forbidden to be a member or nominee of more than one OPC when establishing an OPC
• According to the Companies Act, 2013 the individual founding the OPC cannot be disqualified.

Documents Necessary for OPC Registration in Manipur

The following OPC documents are crucial for OPC registration in Manipur

• ID proof of the Director
• Pan card
• Address proof in the name of the Director
• Passport size photographs
• Any utility bill in the name of the director

Process for OPC Registration in Manipur

Our team can help you open a one person company in Manipur easily. The whole process for OPC registration in Manipur is explained here. Vakilsearch has simplified the whole OPC process for easy registration in 4 easy steps

• Step 1 : Get in Touch with Consultant

  Consult a specialist and clarify all the doubts about the One-person company in Manipur procedure, prerequisites for eligibility, and compliance issues.

• Step 2 : OPC Company 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 Manipur

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 company registration in India 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 Manipur

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

• 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 Manipur?

One Person Company (OPC) registration in Manipur can be a good option for entrepreneurs who want to start a business with limited liability and have complete control over their company's affairs. With our professional OPC registration services you can simplify the process and ensure that your business is set up for success. Trust in our experience and expertise to help you navigate the complexities of registration and start your journey as an entrepreneur with confidence.