Registration of a One Person Company (OPC) in Bangalore, Karnataka is the latest form of corporate structure in India introduced by the Companies Act 2013 and the abbreviation OPC stands for One Person Company. This business structure was started to promote the business idea of people with higher potential to start their business as a one person army. These companies are usually micro businesses whose turnover is unlikely to exceed Rs. 2 crores even in the best situations. One person OPC company registration in Bangalore, Karnataka can be started under the guidance of Companies Act 2013. In this blog I have discussed the OPC registration charges in Bangalore.
Anyone can set up a company on their own without complicated procedures when there are partners work. This law makes starting a business easier and more encouraging. Proprietary ownership is an important factor in the development of the overall economy of the country, as OPC allows a qualified business operator to get a bank loan and credit score etc.
Important Points To Note For One Person Company (OPC) Registration in Bangalore, Karnataka
An OPC in Bangalore, Karnataka can have multiple directors but should have only one shareholder. Mutual funds are not affected by the death of a person or change/change in ownership.
It doesn’t take much effort to establish and maintain One Person Company in Bangalore, Karnataka. The required annual compliance and paperwork is limited to the case of a one-person OPC company.
Mutual funds can act as either a stockbroker or a sub-broker. In the case of OPC, there is no long list of compliances to follow. 1 person is only allowed to combine 1 OPC, according to government guidelines.
Advantages of One Person Company Registration in Bangalore, Karnataka If you are planning to set up a business or start-up by Incorporating or Registering a One Person Company (OPC) in Bangalore State Karnataka, the registration of such One Person Company (OPC) will be available with the Registrar of Companies, Bangalore office i.e. RoC – Bangalore.
All One Person Companies (OPCs) in Bangalore or any other part of Karnataka State must be registered with RoC Bangalore. The state of Karnataka is one of the major technology hubs of India. It is the leading company in investment and export of IT and ITeS fields to other regions of the world. Also it is a preferred destination for investment sectors such as automotive, food processing, electronics, textiles and heavy machinery.
And it is a proven Centre of research and innovation with more than 400 R&D centres. Karnataka has well connection across India and abroad with an extensive road and rail network as well as two international airports.
Karnataka’s coastline is over 300 km long with 13 ports including the major port of Mangalore. The Bengaluru – Mumbai Economic Corridor as well as the Chennai – Bengaluru Industrial Corridor have promoted the economic development of the state.
OPC registration procedure
Fill out the form
The first step in OPC registration in Bangalore for you is to fill out a simple form and carefully answer the questions asked.
DSC Registration
The second step is to apply to the DSC for the director to apply the name approval process.
Name Verification and Approval
The details you provide will be verified by our experts and we will use them to get your OPC name approved. ,
Fill out and submit Spice Form(s) to OPC Registering for Sole Proprietorship in Bangalore, Karnataka
Get OPC COI – The final step will be to get the Certificate of Incorporation of OPC One Person Company in Bangalore, Karnataka.
What is the eligibility for the OPC registration in Bangalore?
Following are the government mandatory eligibility criteria to register your company as OPC:
1. Only a person who is a citizen of India and resident of India can be the sole shareholder of the OPC. Permanent residency in India refers to a person who has lived in India for at least 182 days in the previous year.
2. Legal entities such as limited/public or LLP have no permission to participate in OPC as shares bronze.
3. Promoters must nominate a candidate when setting up OPC through OPC registration in Bangalore.
4. A Nominee can only be a ‘Nominee’ in an OPC.
5. The maximum paid-up capital of an OPC is Rs 50,000. OPC has no permission to have minors as members.
6. In case an OPC has achieved a turnover of more than Rs 2 crores or has paid out capital over Rs 50, it must be converted into a private or public company within 6 months.
7. OPC can have one shareholder and one nominee 8. OPCs can have more than one director.
Advantages of OPC
- This means that Shareholders’ personal assets will always be safe and intact even if OPC suffers a loss and becomes indebted.
- Continue to work The OPC is a separate legal identity, which has transfer to have the designated shareholder if the current shareholder leaves the table.
- OPC that has registered by OPC registration in Bangalore continues to operate. Increase in prestige
- A mutual fund’s books must have audition annually, which gives it an image of greater credibility for sellers and credit unions.
- The paperwork in the OPC registration in Bangalore case is quite simple in nature, making it easy to buy and sell.
- Full control in the hands of one owner
A mutual fund can have up to 15 directors for official maintenance without them owning any shares of the mutual fund; Sole ownership contributes to faster decision making and faster execution.
Important forms of OPC registration
Naming: RUN service is used for naming.
Incorporation of OPC: Once the name has approval, the SPICe form should have the submission to establish the OPC within 20 days. This is possible by OPC registration in Bangalore of RUN approval.
The Company must file the INC-22 form within 30 days from the date of registration of the SPICe form in case the mailing address and registered office address are not the same.
Name reservation, Allotment a Director Identifier (DIN), Incorporating a New Company, Allotment a PAN and Allotment a TAN) in one form by requesting a new company incorporation via the SPICE (INC) form -32) – Simple Form for Electronic Company (SPICe) with eMoA (INC-33), eAOA (INC-34).
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