Simplify Your Business Journey with Proprietorship and One Person Company Registration

Business start-up is one of the most thrilling adventures anyone can decide to undertake in life, but the choice of a business structure is uniquely important if the business is to last. The two common forms of businesses that small businesses and the single master entrepreneurs embrace in India are proprietorship and one-person company (OPC). If you're exploring these structures, the team at Services Plus.

We list below some of the top services that can help you with hassle-free registration and compliance services.

What is a Proprietorship?

Proprietorship is the easiest business structure commonly owned and operated by a single person. It will be suitable for small scale businesses since it is not risky, easy to start, there are limited legal forms for businesses to follow and a business owner has full control of all the decisions made within the business.

What is a One Person Company (OPC)?:

One person company (OPC) is one of the new class of companies recognized under the Companies Act of 2013. This structure has the same advantages as limited liability and corporate structure but enables one person to run a business.

Benefits of One Person Company Registration:

Limited Liability: Shelters the owner’s personal resources from possible business risks.

Separate Legal Entity: The OPC is given legal personality; it is considered as different from its owner.

Ease of Compliance: Overall the OPCs have fewer compliance obligations than the Private Limited Companies.

Continuity: The business person also wants it this way because it will allow the company to continue operating even if he is no longer around.

Proprietorship vs. One Person Company: Which One to Choose?

Comparing proprietorship and One Person Company involves comparing factors such as size of your business, vulnerability to legal suits and plans for expansion. Here are some quick pointers:

Proprietorship: Most suitable for organizations that are experiencing limited risks and which do not need to invest in large capital.

OPC: Ideally positioned for the entrepreneurs who wish to have limited liability and corporate growth.

Steps to Register a One Person Company:

Obtain Digital Signature Certificate (DSC): The proposed director must have a DSC for filing of the forms electronically.

Acquire Director Identification Number (DIN): To meet this requirement you are supposed to apply for a DIN online by filing the necessary documents with the Ministry of Corporate Affairs (MCA).

Name Approval: Suggest distinctive company’s name and register it at the official website of MCA.

Prepare Documents: Prepare Memorandum of Association (MOA) and Articles of Association (AOA) incorporation documents and other documents like the consent of the nominee.

File Incorporation Forms: Duly fill the incorporation form (SPICe+) and attach the memorandum and articles of association as well as other documents to the registrar of companies (ROC).

Obtain Certificate of Incorporation: On his confirmation, the ROC includes the Certificate of Incorporation, the Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) of the company.

Documents Required for OPC Registration:

Identity Proof: PAN card and Aadhaar card of the director and nominee of the concern or the company.

Address Proof: The recent utility bills or bank statements of the director and nominee of the company.

Registered Office Proof: Copy of rent agreement or property deed, and no objection certificate from the owner of the property.

Photographs: Two recent passport sized photo each of the Director and the nominee.

How Services Plus Can Help ?

At Services Plus we offer professional services for registration of a proprietorship as well as a one person company. The team of professionals help you in order, compliance and legalities to make your experience with us absolutely seamless.

Our Services Include:

Business Structure Consultation: Advice on the evaluation of own and competitor’s structure is now available with individual tips on what should be chosen.

Documentation Assistance: Easy submission of documents that are required to be turned in.

Compliance Management: Have the current knowledge about statutory filings and compliance issues.

Post-Registration Support: The most notable of these are: Monitoring and support services without which your business may not operate as planned.

Why Choose Us?

Expertise: Education, training and experience in business registration and compliance services since 2006.

Transparency: free and fast instant messaging with no extra charges.

Customer-Centric Approach: Services to fit the requirements of your business.

Conclusion

In whichever phase of business, it is imperative to select the correct business structure. As your partner in registration and compliance, let Services Plus use our expertise to help you then concentrate on business expansion. But why wait? Begin your journey now with us and understand how to register a proprietorship firm or one person company!