OPC Registration in Tripura

Overview

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

One Person Company Registration in Tripura

Encouraging more people to launch their own businesses and make investments in agriculture, can boost the local economy and create jobs. OPCs can also assist in developing a legitimate market for agricultural goods, providing improved access to funding, technology, and marketing assistance, and ultimately enhancing Tripura's agricultural sector.

The One Person Companies, or OPCs as they are more commonly known, can only be formed by one person. You do not need to worry about the offline process in order to receive OPC registration in Tripura. Easily register your OPC online with 100% online services provided by Vakilsearch, while ensuring you provide the address for the registrar to send correspondence.

Benefits of OPC Registration in Tripura

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

• Individual Ownership: An OPC in Tripura permits exclusive ownership, in which a single person owns the entire firm, establishing it as a distinct legal entity. All profits belong to the solitary shareholder, who also has full authority over the business.
• Limited Liability: An OPC restricts the sole owner's liability to the amount of contributed capital. It implies that the lone shareholder's personal assets are safeguarded in the case of a financial crisis or corporate catastrophe.
• Access to Credit: Compared to an unregistered entity, an OPC is more likely to receive loans or credit facilities from banks and other financial institutions because it is a legally registered entity.
• Simple Incorporation: Tripura's OPC registration is a hassle-free, totally online process. It's simpler for people to start their own businesses because there is little paperwork needed for registration.
• Smooth Management: In an OPC, the lone shareholder has total authority over the business and is able to take decisions without board approval. Quick decision-making is enabled, which is essential for the success of small businesses.
• An OPC has permanent existence, which entitles it to carry on doing business even after the death of its only shareholder. The shareholder's nominee can continue the firm, ensuring continuity and stability.

Checklist for Registering OPC in Tripura

• 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 Tripura

The Companies Act, 2013, and its regulations govern the registration of One Person Companies (OPCs) in India. As a result, Tripura's OPC registration requirements are the same as those for all other Indian states. OPC Eligibility criteria for one person company registration are detailed below:

• The applicant must reside in India
• The person has to be at least 18 years old
• An OPC can only be formed by a natural person who is both an Indian citizen and an Indian resident
• The person cannot be declared bankrupt
• The person must not have been convicted of any crimes or received a sentence of more than six months in jail
• The proposed OPC must also have a distinct name and the DSC must be obtained along with the Director Identification Number for OPC Company Registration

• To ensure that all eligibility requirements are met and the registration procedure is successful, it is important to engage a qualified consultant or a business registration service provider. For this purpose, you can contact our Vakilsearch's legal experts!

Documents Necessary for OPC Registration in Tripura

The following OPC documents are crucial for OPC registration in Tripura

• Director PAN card as identification
• Address verification in the director's name
• Photographs in passport size
• Any utility bill with the director's name on it
• ID proof of the director.

Process for OPC Registration in Tripura

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

• Step 1: Get in Touch With our experts

  Process for OPC Registration in Tripura

• Step 2: OPC Name Reservation

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

• Step 3: Preparation of Documents

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

• Step 4: Documentation

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

• Step 5: OPC Pvt ltd Company 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 Tripura

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 Tripura

The time required for the Company Formation of an OPC (One Person Company) in Tripura , 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 Tripura

• 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 Tripura?

With the legal knowledge offered by Vakilsearch, OPC or one person company registration can be completed without any issues. We will make sure that your business is set up in accordance with all legal criteria. Our team of professionals will keep you updated on the status of your OPC registration at all times so you can stay informed and up to date.