One Person Company Registration in Lucknow

One Person Company Registration in Lucknow

A One Person Company (OPC) is a unique and different kind of business structure and framework which has introduced under the Companies Act, 2013, which allows a single individual to operate and manage a company with limited liability protection. It bridges the gap between the sole proprietorship and private limited company, offering the advantages of both.

Lucknow, known as the "City of Nawabs," has continuously evolved into a big hub for startups and various small businesses. Entrepreneurs in the city are increasingly opting for the structure of OPC registration because it ensures legal recognition, better credibility with clients and banks, and ease in attracting investment.

An OPC in Lucknow is best suited for individuals who wish to start a venture independently while enjoying the various legal benefits of a corporate entity without the complexities of partnership or multiple shareholders.

Why Register a One Person Company in Lucknow?

1. Growing Business Environment: The city of Lucknow is emerging as a huge Centre for sectors like IT, education, manufacturing and the service-based industry.
2. Government Support: UP Government has various initiatives and schemes, such as the Startup Policy and Ease of Doing Business reforms, which encourage individual entrepreneurs to establish their own formal business entities.
3. Professional Credibility: Registration as an OPC enhances your brand reputation, enabling you to secure contracts and loans more easily.
4. Limited Liability Protection: Your personal assets remain safe and secure even if the business faces various losses or debts.
5. Full Control: Unlike a partnership, you don’t need to consult multiple shareholders for decision-making.

Eligibility Criteria for OPC Registration in Lucknow

• Number of Members: Only one person can be a shareholder of the company.
• Nominee: You must appoint one nominee who will take over in case of your death or incapacity.
• Resident Status: The director and nominee must be Indian citizens and residents of India.
• Minimum Capital: No minimum capital is prescribed, but it’s advisable to start with at least ₹1 lakh as authorized capital.
• Business Type: The company should not be engaged in non-banking financial or investment activities.

Documents Required for OPC Registration in Lucknow

For Director and Nominee:

• PAN Card
• Aadhaar Card
• Passport-size photograph
• Email ID and mobile number
• Address proof (bank statement or utility bill not older than 2 months)

For Registered Office:

• Electricity bill, water bill, or property tax receipt
• NOC from the property owner
• Rent agreement (if rented property)

Other Documents:

• Consent of nominee (Form INC-3)
• Declaration and affidavit by the director (Form INC-9 and DIR-2)

Step-by-Step Process for One Person Company Registration in Lucknow

1. Digital Signature Certificate (DSC): You need to obtain a DSC for the sole director and the nominee to digitally sign the incorporation documents.
2. Director Identification Number (DIN): Apply for a DIN through the official MCA portal for the proposed director.
3. Name Approval: File the name application in the SPICe+ Part A form through the MCA portal. The name should end with “(OPC) Private Limited” and must be unique.
4. Preparation of Documents: Draft the Memorandum of Association and the Articles of Association, which specify the company’s objectives and the various operational rules.
5. Filing SPICe+ Form: Submit the SPICe+ Part B form along with the required attachments such as proof of the registered office, identity documents and the declaration forms.
6. Verification by Registrar of Companies (ROC): The ROC, Kanpur, verifies your documents and application details.
7. Certificate of Incorporation: Upon approval, you will receive the Certificate of Incorporation (COI), PAN and the TAN for your OPC.
8. Bank Account Opening: Use the COI and PAN to open a current account in your company’s name.

Timeline for OPC Registration in Lucknow

Benefits of One Person Company Registration in Lucknow

1. Limited Liability: It helps to protect personal wealth from business risks.
2. Single Ownership: It simplifies the process of management and decision-making.
3. Legal Recognition: It enhances the brand image and its trustworthiness.
4. Perpetual Succession: Business continuity ensured through nominee provision.
5. Easy Funding: It makes process easier to raise loans or funding compared to a proprietorship.
6. Tax Advantages: It makes one eligible for the deductions and lower tax rates applicable to companies.
7. Separate Legal Entity: The company has its own legal identity separate from or distinct from the owner.

Post-Registration Compliance for OPC in Lucknow

1. Appointment of Auditor: Within 30 days of incorporation.
2. Annual Filing: File AOC-4 and MGT-7A with the ROC annually.
3. Income Tax Filing: File the company’s ITR every year by July 31 (if not audited) or October 31 (if audited).
4. Board Meetings: At least one board meeting must be conducted in each half of the calendar year.
5. Maintenance of Records: Need to maintain the proper accounting and statutory records.
6. GST Registration (if applicable): It is required if the annual turnover exceeds ₹40 lakhs (for goods) or ₹20 lakhs (for services).

Why Choose Us for OPC Registration in Lucknow?

We provide end-to-end assistance in registering your One Person Company with accuracy and speed. Our services include:

• Expert guidance on legal eligibility and structure.
• Seamless digital documentation and filing.
• Quick name approval and ROC processing.
• We provide affordable packages with no hidden costs.
• Post-incorporation support, which includes GST, accounting and compliance.