opc company registration cost
A Comprehensive Guide to OPC Company Registration in India
Introduction
Starting a business in India can be an exciting venture, and one of the popular options for small businesses is to register as a One Person Company (OPC). OPC is a type of company structure that allows a single individual to establish and run a business, providing the benefits of limited liability. In this article, we will explore the process and cost involved in OPC company registration in India.
Understanding One Person Company (OPC)
A One Person Company (OPC) is a legal business entity introduced under the Companies Act, 2013 in India. It allows a sole entrepreneur to operate as a separate legal entity, enjoying the advantages of limited liability. OPCs have a separate legal status from their owners, ensuring that the company’s liabilities are not personally borne by the individual.
Process of Registering an OPC
The process of OPC company registration involves several steps, which can be summarized as follows:
1. Obtaining Digital Signature Certificate (DSC): The first step in registering an OPC is to obtain a digital signature certificate. A DSC is necessary for online filing and signing of documents.
2. Director Identification Number (DIN): The next step is to obtain a Director Identification Number (DIN). DIN is a unique identification number issued by the Ministry of Corporate Affairs (MCA) to individuals who wish to become directors of companies.
3. Name Approval: Choosing an appropriate and unique name for your OPC is crucial. The proposed name should be in line with the guidelines provided by the MCA. Once a name is chosen, an application for name approval must be submitted to the Registrar of Companies (RoC).
4. Memorandum of Association (MOA) and Articles of Association (AOA): MOA and AOA are legal documents that define the purpose, structure, and regulations of the company. These documents must be prepared and filed with the RoC.
5. Appointment of Nominee Director: OPCs require the appointment of a nominee director who will take over the management of the company in case of the owner’s incapacitation or death. The nominee director must provide their consent and necessary documents.
6. Obtaining Certificate of Incorporation: After completing the above steps, the RoC will review the application and relevant documents. Once satisfied, the RoC will issue a Certificate of Incorporation, officially establishing the OPC.
Cost Involved in OPC Company Registration
The cost involved in OPC company registration can vary depending on various factors, including professional fees, stamp duties, and government fees. Here’s a breakdown of the approximate cost involved:
1. Digital Signature Certificate (DSC): The cost of obtaining a DSC can range from INR 1,000 to INR 3,000.
2. Director Identification Number (DIN): There is a nominal fee of INR 500 for obtaining a DIN.
3. Name Approval: The government fees for name approval is INR 1,000.
4. Memorandum of Association (MOA) and Articles of Association (AOA): The drafting and filing of MOA and AOA can cost around INR 2,000 to INR 5,000.
5. Professional Fees: Engaging the services of a professional for OPC registration can cost approximately INR 5,000 to INR 15,000.
6. Government Fees: The government fees for the registration process can range from INR 4,000 to INR 10,000, depending on the authorized capital of the OPC.
It is important to note that these costs are approximate and can vary based on the complexity of the registration process and the choice of a professional service provider.
Conclusion – OPC Company Registration Cost
Starting a One Person Company (OPC) in India can be a rewarding experience for entrepreneurs aiming to establish their businesses. The process of OPC company registration involves various steps, from obtaining a digital signature certificate to obtaining a Certificate of Incorporation. The cost of registering an OPC includes fees for DSC, DIN, name approval, drafting legal documents, professional fees, and government fees. By following the necessary steps and having a clear understanding of the costs involved, aspiring entrepreneurs can confidently embark on their journey to set up an OPC in India.,
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opc company registration cost
This article is only published for informational purposes. Please consult your Chartered Accountant or Financial Advisor before making any important financial decisions.
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