Know all about One Person Company

1. How to incorporate an OPC?

Answer: Incorporation through SPICe (Without filling RUN) Stakeholders can profit of 5 unique administrations (Name Reservation, Allotment of Director Identification number (DIN), Incorporation of New Company, Allotment of PAN and Allotment of TAN) in one structure by applying for Incorporation of another organization through SPICe structure (INC-32) – Simplified Proforma for Incorporating Company electronically (SPICe) – with eMoA (INC-33), eAOA (INC-34).

In case eMoA, eAoA are not applicable, users are required to attach the pdf attachments of MoA and AoA. There is no need for reserving a name separately before filing SPICe. One name for the proposed company can be applied through SPICe (INC-32).

2. Incorporation through SPICe (With RUN)

• Name reservation: RUN service shall be used for name availability.

• Incorporate OPC:After name approval, form SPICe shall be filed for incorporation of the OPC within 20 days from the data of approval of RUN.

The company shall file form INC-22 within 30 days once form SPICe is registered in case the address of correspondence and registered office address are not same.

3. How to inform RoC about change in membership of OPC?

Answer: The organization shall file form INC-4 in the event of cessation of member from OPC by virtue of death, insufficiency to agreement or change in proprietorship. In a similar structure, client needs to give subtleties of the new individual from the OPC.

4. Is there any threshold limits for an OPC to mandatorily get converted into either private or public company?

Answer: on the off chance that the paid up share capital of an OPC surpasses fifty lakh rupees or its normal yearly turnover of promptly going before three continuous financial years surpasses two crore rupees, at that point the OPC needs to mandatorily convert itself into private or public company.

5. How to intimate RoC that the OPC has exceeded the threshold limits and require conversion into private or public company?

Answer: The OPC shall inform RoC in form INC-5, if the threshold limits is exceeded and is required to be converted into private or public company.

6. What is the time limit for filing form INC-5?

Answer: Form INC-5 shall be filed within sixty days of exceeding threshold limits.

7. Is there any form that is to be filed for conversion of an OPC into private or public company? Is there any other purpose for filing this form?

Answer: Form INC-6 will be filed by an OPC for transformation of an OPC into private or public organization. Truly, the privately owned business will likewise file form INC-6 for changing over itself into an OPC. The paid up share capital of privately owned business ought not be surpassing fifty lakh rupees and ought not have normal yearly turnover in excess of two crore rupees at the hour of such transformation into OPC. The organization will have one part and will delegate one candidate to go about as part if there should be an occurrence of death or insufficiency of the part at the hour of transformation into OPC.

8. What is the time limit for filing form INC-6?

Answer: Form INC-6 shall be filed within 30 days in case of voluntary conversion and within six months of mandatory conversion.

9. Who is eligible to act as a member of an OPC?

Answer: Only a natural person who is an Indian resident and occupant in India will be qualified to go about as a part and candidate of an OPC.

For the above reason, the expression "inhabitant in India" signifies an individual who has remained in India for a time of at the very least 100 and 82 days during the quickly going before one financial year.

9. A person can be a member in how many OPCs?

Answer: A person can be member in only one OPC.

10. What if a member of an OPC becomes a member in another OPC by virtue of being a nominee in that other OPC?

Answer: Where a natural person, being member in One Person Company becomes a member in another OPC by virtue of his being a nominee in that OPC, then such person shall meet the eligibility criteria of being a member in only one OPC within a period of one hundred and eighty days, i.e., he/she shall withdraw his membership from either of the OPCs within one hundred and eighty days.

11. Which form is to be filed in case of withdrawal of consent by the nominee of an OPC or in case of intimation of change in nominee by the member?

Answer: Form INC-4 shall be filed in case of withdrawal of consent by the nominee or in case of intimation of change in nominee by the member.