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WHO IS ELIGIBLE FOR REGISTER OPC AS PER COMPANIES ACT 2013

WHO IS ELIGIBLE FOR REGISTRATION OPC AS PER COMPANIES ACT 2013

The following are the eligibility criteria to register an OPC in India as per the Companies Act 2013:

  • The member of an OPC must be a natural person. This means that a company, partnership, or other legal entity cannot be a member of an OPC.
  • The member of an OPC must be an Indian citizen and resident in India. This means that the member must have stayed in India for a period of not less than 182 days during the immediately preceding one financial year.
  •  The member of an OPC must be at least 18 years old.
  • The member of an OPC must not be disqualified under the Companies Act 2013. This means that the member must not have been convicted of any offence involving fraud or dishonesty, or any other offence that is punishable with imprisonment for more than two

In addition to the above, the following are some of the other requirements for registering an OPC:

  • The name of the OPC must end with the words “One Person Company” or the abbreviation “OPC”.
  • The OPC must have a registered office in India.
  • The OPC must have a The nominee is a person who will become the owner of the OPC in the event that the member dies or becomes incapacitated.

The nominee of an OPC must also meet the following eligibility criteria:

  • The nominee must be a natural person.
  • The nominee must be an Indian citizen and resident in India.
  • The nominee must be at least 18 years old.
  • The nominee must not be disqualified under the Companies Act 2013.

If you meet all of the eligibility criteria, you can register an OPC by filing the necessary documents with the Registrar of Companies (ROC) in your state. The documents that you need to file will vary depending on your state, but they will typically include the following:

  • A copy of the OPC’s Memorandum of Association (MoA) and Articles of Association (AoA).
  • A copy of the OPC’s certificate of incorporation.
  • A copy of the OPC’s nominee’s consent letter.

Once you have filed the necessary documents, the ROC will process your application and issue a certificate of incorporation for your OPC.

Here are some of the benefits of registering an OPC:

  • Limited liability: The liability of the member of an OPC is limited to the unpaid amount of the subscribed capital. This means that the personal assets of the member are not at risk in the event that the company is unable to meet its liabilities.
  • Simple compliances: The compliance requirements for OPCs are relatively simple compared to those for other types of companies. This makes it a good option for entrepreneurs who want to start a business with limited personal risk and simple compliance requirements.