One Person Company Registration in Meghalaya
Get One-Person Company (OPC) Registration in Meghalaya with the help of JustStart professionals. Additionally, avail a 360° expert solution and acquire the hassle-free online Single Person Company Registration process.
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OVERVIEW
What is One Person Company in Meghalaya?
A One Person Company (OPC) is a kind of privately owned company incorporated under the Companies Act 2013. It can be established by a single individual who can play the role of a director as well as a shareholder of the company.
The concept of OPC was introduced to enable a single individual to incorporate a company. Enjoy OPC registration benefits, such as perpetual succession, a separate legal entity, and limited liability. The core objective behind introducing OPC was to encourage entrepreneurship and uplift the formalization of Micro, Small, and Medium Enterprises (MSMEs).
Process
Process of One Person Company Registration in Meghalaya
Below, we have outlined the detailed process for registering a One Person Company (OPC) in Meghalaya to provide clarity.
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Get a Digital Signature Certificate (DSC)
A DSC is a digital signature certificate for directors of a company, used for electronically signing crucial documents. Additionally, a DSC is included as a necessary component in the documentary signature process when establishing an OPC company.
Apply for a Director Identification Number (DIN)
DIN stands for Director Identification Number, and it is used to collect the biographical profile of company members who are known as company directors.
Name Approval Application
Submit an application for name reservation via the MCA portal using Form SPICe+ (Part A). However, Make sure the selected name for your company is unique and does not bear resemblance to any existing company or trademark.
Prepare Required Documents
As a one person Entrepreneurship and the sole owner of a company, you are responsible for preparing the necessary company documents. Once these documents are prepared, you can obtain a company name, like "ABC (OPC) Private Limited Company.
Receive Certificate of Incorporation
After following all these steps, you can legally receive the Certificate of Incorporation for your one person private limited company's name.
Benefits
Benefits of One Person Company Registration in Meghalaya
Registering a one-person company in Meghalaya provides an opportunity to obtain the significant benefits of a private limited company by being a solo founder.
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Continuous Existence
One Person Company exists continuously regardless of any change in the lifespan of the director. The nominee appointed while doing OPC
Registration Online
Registration online will take over the operations if the death or incapability of the member takes place.
Fewer Compliances
According to the Companies Act 2013, OPC registration needs fewer compliances than a private limited company. Cash Flow Statement & sign of Company Secretary on Accounts books and annual returns are not required. Only the director's signature is required.
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Easy Access to Loans
Since OPC is a form of private company, it is easy to obtain funds from banks and financial institutions.
Easy Incorporation
The whole OPC Registration process is online, making it simple, and quicker. It requires only one member and one nominee; the member can also act as director of the company. No minimum paid-up capital is required eliminating individuals’ barriers to starting his/her own company.
Sole Control
The owner of an OPC has full control over the company’s operations and management, which makes decision-making faster and more efficient.
Eligibility
Eligibility For OPC Registration in Meghalaya
Before you proceed to form a One person Company in Meghalaya, certain eligibility criteria must be met. Here are the key requirements to know the eligibility with a glance.
Following are the eligibility criteria for OPC registration In Meghalaya.
- A natural person who is an Indian citizen or an NRI can form an OPC, not a legal entity or a company.
- Indian Citizens who reside in India for at least 182 days during the previous calendar year can register an OPC.
- No minimum capital requirement for One person Company.
- The promoter must appoint the Nominee.
- The person must have attained the age of 18 years old.
- The person must be not disqualified under the Companies Act,2013
- Businesses involved with insurance, banking, or investments cannot establish an OPC.
Document Required
Required Documents For One Person Company Registration in Meghalaya
Here’s a list of required documents for registering a One Person Company (OPC) in Meghalaya
Identity Proof:
- PAN (Permanent Account Number) Card.
- Voter's Identity Card/Passport/Aadhar Card of the Shareholder, Nominee & Director.
Address Proof of Director:
- Any latest Utility Bill i.e. Electricity/Telephone Bill/Bank Account Statement of Shareholder, Nominee and Director.
Company Address Proof:
- Any Latest Utility bill including Electricity Bill, Telephone/Mobile Bill or Gas Bill.
- No Objection Certificate (NOC) from owner of the property.
Photograph:
- Latest Passport-size photographs of shareholders, Nominees and Directors.
If you meet the above eligibility conditions and can arrange the requisite documents, you are all set to kickstart your entrepreneurial journey.
DOCUMENTS REQUIRED
Required Documents For One Person Company Registration in Meghalaya
Here’s a list of required documents for registering a One Person Company (OPC) in Meghalaya.
Identity Proof:
-
PAN (Permanent Account Number) Card
- Voter's Identity Card/Passport/Aadhar Card of the Shareholder, Nominee & Director
Address Proof of Director:
- Any latest Utility Bill i.e. Electricity/Telephone Bill/Bank Account Statement of Shareholder, Nominee & Director
Company Address Proof:
- Any Latest Utility bill including Electricity Bill, Telephone/Mobile Bill or Gas Bill
- No Objection Certificate (NOC) from owner of the property
Photograph:
- Latest Passport-size photographs of Shareholder, Nominees & Directors
If you meet above eligibility conditions and can arrange the requisite documents, you are all set to kickstart your entrepreneurial journey.
Cost
How much will it cost for OPC Registration in Meghalaya?
Getting One Person Company (OPC) registration in Meghalaya with JustStart begins at Rs. 7,999, Additionally, process typically takes around 7-10 working days. If you're running a business and wish to operate it as a single person, OPC registration is essential to get the associated benefits, mainly of a private limited company.
|
Steps |
Cost (Rs) |
|
2 Digital Signature Certificates |
Rs 3,000 |
|
Government Fee |
Rs 2,000 |
|
Professional Fee |
Rs 2,999 |
|
Total Fee |
Rs 7,999 |
Why JustStart?
Why JustStart For OPC Registration?
JustStart offers easy OPC registration in Meghalaya with a friendly process at affordable prices compared to other registration providers.
Additionally, They provide free consultations with Single Person Company Registration experts. Apart from this, below you will see the reasons why you should choose JustStart for your OPC registration in Meghalaya. Let's check the points below to know more.
- Seamless Process Handling
- Transparent Communication
- Google-verified Business
- End-to-End Support
- Stress-Free Process
- Regulatory Compliance
- Time-Efficient Services
FAQs
LET'S CLEAR ALL THE DOUBTS!
An OPC is a one-person Company in which a single owner owns and operates the company by enjoying the benefits of a sole proprietorship and a Private Limited. It differs from other business structures like an LLP, or partnership by allowing one person to hold shares, while still offering limited liability protection.
No, an OPC cannot engage in financial activities such as banking or insurance. These activities require a more complex regulatory framework.
If an OPC's capital goes over ₹50 lakhs or its annual earnings surpass ₹2 crores, it has to convert into a private or public company to follow the rules for bigger businesses.
Registering an OPC in Meghalaya offers the advantage of limited liability protection for the owner. It also provides a simple management structure and separate legal identity.
An OPC in Meghalaya must file annual financial statements and returns, hold an annual general meeting (AGM), and keep proper records.
The cost of registering an OPC in Meghalaya typically ranges from ₹7,000 to ₹15,000, including government fees and professional charges.
No, an individual cannot be a shareholder in more than one OPC in Meghalaya.
