One Person Company Registration in Patna

One Person Company Registration in Patna

The structure of One Person Company (OPC) was introduced under the Companies Act, 2013, to encourage individual entrepreneurs to operate and manage a corporate entity with the unique concept of limited liability. In Patna, OPC registration is totally managed by the Ministry of Corporate Affairs (MCA), and it can be done totally via an online process through the official MCA portal.

An OPC permits one person to act as both the shareholder and director as well. It offers complete control over the decision-making process while maintaining the protection of a separate legal entity. This structure and unique framework are ideal for the startups, consultants and small business owners who want to run a legitimate corporate business without inviting any complexities of having multiple partners.

Why Register an OPC in Patna?

Patna, which is the capital of Bihar, is continuously emerging as a commercial and entrepreneurial hub. With the rate of growing government support for the various types of startups, better connectivity and the digital infrastructure, the city provides a fertile ground for individual business ventures as well.

Registering an OPC in Patna offers:

• Limited Liability: Protects the personal assets of the owner from business liabilities.
• Full Control: The owner makes all business decisions independently.
• Corporate Identity: It enhances the element of credibility and trust among clients and investors.
• Ease of Compliance: Comparatively fewer compliance requirements than private limited companies.
• Continuity of Business: The nominee ensures seamless succession in case of the owner’s demise or incapacity.

Eligibility Criteria for One Person Company Registration in Patna

To register an OPC in Patna, you must meet the following conditions:

1. Single Member: Only one person can be a shareholder.
2. Resident Indian: The sole member and nominee must be Indian residents.
3. Nominee Requirement: A nominee must be appointed who will take charge upon the member’s death or incapacity.
4. Minimum Capital: No minimum paid-up capital requirement.
5. Business Activities: OPC cannot carry out non-banking financial investment activities.

Documents Required for OPC Registration in Patna

For Director and Nominee:

• PAN Card (mandatory)
• Aadhaar Card
• Passport-sized photograph
• Proof of residence (Electricity bill/Bank statement not older than 2 months)

For Registered Office:

• Electricity or water bill for the premises
• Rent Agreement (if rented)
• NOC from the property owner

Other Documents:

• Memorandum of Association (MOA)
• Articles of Association (AOA)
• Declaration and consent of nominee

Step-by-Step Process for OPC Registration in Patna

1. Digital Signature Certificate (DSC): Need to obtain a DSC for the director to sign electronic documents in electronic form.
2. Director Identification Number (DIN): Apply for DIN through the SPICe+ form through MCA portal.
3. Name Reservation: Propose a unique company name using the RUN (Reserve Unique Name) service. The name should end with “(OPC) Private Limited.”
4. Filing Incorporation Application (SPICe+): Fill out the SPICe+ form online with the required details of the company, director, nominee and the registered office.
5. Drafting Legal Documents: Draft the key documents like the Memorandum of Association and Articles of Association.
6. Payment of Fees & Submission: Need to pay the prescribed government fee and submit all the relevant documents online.
7. Certificate of Incorporation: Once it’s approved, the MCA will issue a Certificate of Incorporation, viz., COI and your OPC is officially registered.

Timeline for OPC Registration in Patna

Benefits of One Person Company Registration in Patna

1. Separate Legal Entity: The company has its own legal existence separate from the owner.
2. Limited Liability Protection: The shareholder’s personal assets are protected from business debts.
3. Easy Management: Single ownership means faster decision-making and smoother management.
4. Credibility & Brand Value: Registered companies gain more trust from clients, suppliers, and investors.
5. Tax Advantages: OPCs enjoy various tax benefits and can easily raise funds in the future.
6. Perpetual Succession: The nominee ensures the business continues in case of the owner’s absence.

Post-Registration Compliance for OPC in Patna

After registering your One Person Company in Patna, certain annual and event-based compliances must be maintained:

• Appointment of Auditor: Within 30 days of incorporation.
• Maintenance of Books: Proper accounting and financial records.
• Filing of Annual Returns: File Form MGT-7A annually.
• Filing of Financial Statements: Submit Form AOC-4 to MCA.
• Income Tax Filing: Annual income tax return under the Income Tax Act.
• Board Meetings: At least one board meeting in each half of the calendar year.

Why Choose Us for OPC Registration in Patna?

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.