HOW TO REGISTER ONE PERSON COMPANY IN INDIA?

INDIA—2017. Captivating one’s self to enumerate the qualities of a well-informed entrepreneur possessing the knowledge in the business itself. Yes, we see successful people grow businesses together. Blossoming was once known to be a partnership; now sharing with multiple, multi-billion dollar net-worth investors. Take note, that the term “sharing” and “partnership” is used. This is not the case for OPC (One Person Company), decreed in 2013 under Section 2(62) of the Companies Act, 2013; states OPC as a company of one owner (I.e. Shareholder), and one alone (thus the name).

Unlike Sole Proprietors, OPC relates purposely as a completely separate entity. For the case as to Sole Proprietors, zero distinction is contrasted between the owner and the business. To incorporate OPC as a benefit to standardized businesses across India, especially; one must take note that it is to wildly claim much rewarding advantage for domestic entrepreneurs across the country, namely, for instance; home-made menus, Indian garments from family lineage, and much more after encapsulating a business and branding it with OPC under its name. It takes almost anyone with an immersive passion to what they really seek in life on reaching out their chosen fields of endeavors, to start their very own business. Moreover, here is how you begin that journey.

NAMING BUSINESS

Naming your business is almost, if not, as important as building one. To brand one’s temple comes every label. According to Section 3(1)© of the act: the label ‘One Person Company’ must be ordained under the Company’s name in brackets [] wherever it appears. To oblige as an OPC is essential; most importantly, necessary.

ELIGIBILITY

Eligibility to form OPC is directed, and exclusive to naturally born Indian nationalities, who upon being born in India, should also reside in the country for at least a number of 182 days during the immediately preceding. However, it should be noted, one of such person is prohibited to form two or more OPCs.

OWNERSHIP AND DIRECTOR

One grand thing to remember is, you, the owner, is the shareholder and the director simultaneously. Although, you can appoint yourself as the first director, hiring 15 more is allowed. It is very reasonable and logical to start with OPC, namely because you could not convert it to a Private Limited Company in three years time. This means that having a private equity investor is by no means poorly strategized, but purely a restriction. Infusing funds to the benefit of the company is distant and reachable in three years. It is ideal for OPC to start with businesses that are inspired by hobbies, passion and small entities that take time to grow; to be, someday as large, private limited companies, or, Sole Proprietorships.

To start somewhere, regardless the grandeur of its matter is where great things come to expect. An opportunity like this implemented in beloved India is welcoming to eager and passionate business careers, everywhere in the nation.