One Person Company Registration in Visakhapatnam

One Person Company Registration in Visakhapatnam

The concept of the One Person Company was introduced under the Companies Act, 2013, to provide a legal structure or framework for solo entrepreneurs. Unlike the proprietorships, OPCs enjoy the corporate status, a separate or distinct legal identity, limited liability, and enhanced credibility. This model is especially popular among the various freelancers, consultants, traders and small-scale entrepreneurs who want to operate independently but with the various advantages of a registered company.

In a city like Visakhapatnam, OPC registration is becoming increasingly relevant due to the city’s strong industrial base, IT growth and the strategic importance as a logistics hub. Entrepreneurs in the region can easily leverage the various benefits of the OPC registration to expand their operations locally and globally,

Why Choose OPC Registration in Visakhapatnam?

Visakhapatnam, often called the "City of Destiny," has continuously evolved into one of India’s key business destinations. From the IT parks to the special economic zones and the bustling port, the city offers excellent growth prospects. Registering an OPC in Visakhapatnam ensures:

• Professional credibility for solo entrepreneurs.
• Limited liability protection, safeguarding personal assets.
• Ease of funding, as banks and investors prefer a corporate structure over a proprietorship.
• Full control, since only one shareholder is required.
• Seamless expansion, as an OPC can later be converted into a Private Limited Company when the business grows.

Eligibility Criteria for OPC Registration in Visakhapatnam

Before applying for OPC registration in Visakhapatnam, you must ensure you meet the eligibility conditions:

1. Shareholder Requirement – Only one individual can act as a shareholder of the OPC.
2. Nominee Appointment – A nominee must be appointed who will take over in case of the shareholder’s death or incapacity.
3. Residency Condition – Both the shareholder and nominee must be Indian citizens and residents of India.
4. Minimum Capital – No minimum paid-up capital is mandated, but it can start from as low as ₹1.
5. Business Nature – Certain businesses, like NBFCs, investment activities, and charitable organisations, cannot register as OPCs.

Documents Required for OPC Registration in Visakhapatnam

1. For Director & Nominee

• PAN Card
• Aadhaar Card
• Passport-size photographs
• Proof of residence (Utility bill/Bank statement not older than 2 months)
• Identity proof (Voter ID/Passport/Driving License)

2. For Registered Office

• Address proof (Electricity/Water/Property tax bill)
• Rent agreement (if rented)
• NOC from the property owner

3. Other Documents

• Digital Signature Certificate (DSC)
• Consent form of nominee

Process of OPC Registration in Visakhapatnam

1. Digital Signature Certificate (DSC) – Need to obtain a DSC for the proposed director.
2. Director Identification Number (DIN) – Apply for the DIN of the shareholder/director.
3. Name Approval – Need to file for name reservation through the RUN (Reserve Unique Name) service.
4. Drafting of Documents – Draft the Memorandum of Association and Articles of Association.
5. Nominee Consent – File the nominee's required details along with the consent form (INC-3).
6. Filing with ROC – Submit the SPICe+ form along with the required and necessary attachments.
7. Certificate of Incorporation – Upon approval, the Registrar of Companies (ROC) issues the incorporation certificate.

Timeline for OPC Registration in Visakhapatnam

The entire OPC registration process generally takes 7–10 working days, provided all documents are in order and there are no delays in government approvals.

• DSC & DIN: 1–2 days
• Name Approval: 2–3 days
• Incorporation Filing & Approval: 3–5 days

Benefits of OPC Registration in Visakhapatnam

1. Limited Liability – It protects the personal assets against company liabilities.
2. Separate Legal Entity – The company is distinct or separate from its owner.
3. Better Access to Funding – Banks and investors view OPCs as more reliable than sole proprietorships.
4. Single Ownership – Full control remains with the entrepreneur.
5. Tax Benefits – OPCs enjoy various deductions and exemptions under income tax law.
6. Easy Conversion – Can be converted into a Private Limited Company as business expands.
7. Enhanced Credibility – The Customers, vendors and partners have more trust in the registered companies.

Post-Registration Compliance for OPC

After incorporation, an OPC must follow certain compliances:

• Annual Filing – File annual returns and financial statements with ROC.
• Income Tax Filing – File the income tax returns every year.
• Audit Requirements – It is Mandatory for a statutory audit of accounts.
• Board Meetings – At least one board meeting in each half of a calendar year.
• Other Registrations – The GST, Shops & Establishment Act, Professional Tax, etc., depend on the business type.

Why Choose Us for OPC Registration in Visakhapatnam?

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.