What is a One Person Company (OPC)?
A One Person Company (OPC) is a type of business organization created by the Companies Act, 2013. It lets a single person start and run a business with limited responsibility. This framework was made to encourage people to be entrepreneurs and make it easier to start a business without a partner.If you are looking to initiate One Person Company registration in Delhi, this business model offers a simple yet effective solution.
Eligibility for One Person Company (OPC)
An OPC can be made by any Indian citizen or resident over the age of 18. The person applying must be a person, not a business or LLP. In the company, there can only be one member. No one else can join or be a candidate for the company. This makes it ideal for entrepreneurs seeking One Person Company registration in Delhi.
Benefits of One Person Company (OPC)
One main reason to choose an OPC is that it protects you from having too much risk. Personal assets of the owner are kept separate from those of the business. This way, if the business gets into trouble with the law or needs money, the owner's personal wealth is not at risk.
Additionally, OPCs are easier to manage compared to other company types. One Person Company registration in Delhi offers the advantage of not requiring annual general meetings, and the compliance burden is significantly lower, making it perfect for small businesses and startups.
Registration Process of One Person Company (OPC)
The registration process for an OPC is similar to that of a private limited company. Here are the steps involved in One Person Company registration in Delhi:
- Obtain a Digital Signature Certificate (DSC) and Director Identification Number (DIN)
- Choose a unique company name and apply for name approval
- Prepare the Memorandum of Association (MOA) and Articles of Association (AOA)
- Submit incorporation documents to the Registrar of Companies (ROC)
- Receive the Certificate of Incorporation
People who want to start a business with limited responsibility should go with the One Person Company registration in Delhi. It is a very popular choice for small businesses and starts because it is easy to use and requires less compliance.