One Person Company Registration in bangalore

One Person Company registration in Bangalore

An OPC combines the benefits of a company and sole proprietorship, aiming to offer more advantages to entrepreneurs. As the name suggests, it requires only one person to start. No additional directors or subscribers are necessary. It's a distinct legal entity, granting the entrepreneur freedom in operations. OPC with OPC registration in Bangalore offers ample opportunities while limiting liability based on share value. This shields personal assets from business risks, making it encouraging for new, young, and innovative start-ups.

Advantages of one Person Company

Ease in Funding: As a private company, an OPC with online OPC registration in Bangalore can secure funding from various sources like financial institutions, angel investors, and venture capital.

Minimum requirements: Only one shareholder and director are needed, allowing the same person to hold both roles. The company name must include "OPC" to distinguish it from other company types. OPCs have fewer compliance obligations compared to other private limited companies.

Single Ownership Advantage: Being a single owner enables quick decision-making, management, and control, fostering a stronger sense of ownership and commitment to business growth.

Benefit of being a small scale industry:OPCs enjoy benefits akin to small-scale industries, such as easier bank funding without significant collateral and lower interest rates on loans, which greatly benefit businesses.

No Mandatory AGM:Unlike other companies, OPCs are not obligated to conduct an Annual General Meeting (AGM).

Documents required for one Person Company:

For Director/Shareholder and Nominee:

  • PAN card is necessary.
  • Acceptable ID cards include driving license,
  • voter ID, passport, or
  • Aadhar card.
  • Address proof required such as a recent bank statement (within two months),
  • Electricity bill, or telephone bill.
  • Passport-sized photographs needed.

Documents related to registered office:

  • Submit a rental agreement if the office is rented; otherwise,
  • Provide ownership documents.
  • Include a No Objection Certificate (NOC) from the landlord.

These are the documents necessary for OPC registration online.