Income Tax
We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.
One Person Company Registration
We are extremely glad to inform you that you can now form a One Person Company (OPC) in India, that too with the minimum hassle and cost.Among all the other provisions of the new Companies Act, entrepreneurs seemed sitting on the edge of their seats for this one.
Timeline - 7 Working days
One Person Company
What is a one person company?
One person company (OPC) is a new form of business introduced by Companies Act, 2013. It is hybrid form of business where a sole proprietorship concern can get a corporate outlook.
An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder. Thus, it does away with the hassles of finding the right kind of co-partner/s for starting a business as registered entity. The best part is, legal and financial liability is limited to the Company and not the member.
Features of One Person Company
Only One Shareholder
Only a natural person, who is an Indian citizen and resident in India shall be eligible to incorporate a One Person
Company.
Number of Directors
Must have a minimum of One Director, the Sole Shareholder can himself be the Sole Director. The Company may have a maximum number of 15 directors.
Learn MorePaid-up Capital
A one person company can be started with 1 lac. If the paid up capital of the company increase to 50 lacs or more the OPC will become automatically.
Learn MoreSuitable only for
small business
OPC is suitable only for small business. OPC can have maximum Paid up share capital of Rs.50Lakhs or Turnover of Rs.2 Crores. Otherwise OPC need to be converted into Private Ltd Company.
Learn MoreMinimum
compliances
One Person Company have to face little compliance burden as compared to private limited companies , hence this firm can focus on other , functional and core areas.
Learn MoreComplete Control of The Company with the Single Owner
This leads to fast decision making and execution. Yet he/she can appoint as many as 15 directors in the OPC for administrative functions, without giving any share to them.
Learn MoreEasy Funding
Like a Private company, One Person Company can raise funds through venture capital, financial institutions, angel investors etc. A One Person Company can raise funds thus graduating itself to a private limited company.
Learn MoreONE PERSON COMPANY
Advantages
Single shareholder
A single shareholder who can also be the sole director can start an OPC.
Separate Legal Identity
OPC gets the status of a separate legal entity.
Fewer rules and compliances
OPC has to comply with fewer rules and regulations when compared to other forms of companies.
Limited Liability
Personal assets of the shareholders will not be at risk, in the event of the company facing financial distress. Liability of the shareholder is limited to the unpaid amount on his shareholdi
No minimum capital required
No minimum capital is required to start an OPC.
ONE PERSON COMPANY
Disadvantages
Suitable only for small businesses
OPC is suitable only for small businesses, OPC can have maximum Paid up share capital of Rs.50Lakhs or Turnover of Rs.2 Crores.
Cannot convert into Sec8 Company
One Person Company cannot be incorporated or converted into a company under Section 8 of the Act.
Cannot run NBFC business
One Person Company cannot carry out Non – Banking Financial Investment activities including investment in securities of anybody corporate.
One Person Company
We Serve Everywhere
Thewealthbridge.in is web portal of the Virutchamwealth Bridge Private Limited is one stop business setup and consulting company, managed by specialized team of Business Analysts,Company Secretaries, Chartered Accountants, Corporate Lawyers and Financial Professionals company headquartered in Vellore,Tamilnadu, India. Having known for our quality of services, delivering the projects on time, we have clients spread across the globe
Business Licenses
Our Professionals Will help you in getting your business licenses and Business licenses necessary for smooth running of businesses
Financial Services
we will Provide Funds for both personal and Business. Our funding system gives a credit line facility, enabling you to expand your business to new heights
Gst Returns
We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN
What are the Documents required for Formation of Pvt. Ltd. Company Registration Online?
PAN card and Residence Proof of directors of the company
Copy of Rental Agreement / EB Card Copy of Registerd Office
Copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
passport-size photograph
Specimen signature (blank document with signature [directors only])
Aadhar card [director only]
What Includes in this package?
Verification of Documents
DSC and DIN for 2 Directors
Name approval and ROC feesl.
Drafting MOA & AOA
Following until Certificate is allotted
Applying PAN & TAN
ONE PERSON COMPANY
Process
Applying DIN&DSC
This is where we sit down, grab a cup of coffee and dial in the details.
Name Approval
Now that we've aligned the details, it's time to get things organized.
MOA,AOA&AFFIDAVIT
We begin to visualize your sketches and make them into beautiful pixels.
Company Registered
Your brand is all dressed up and ready to party, it's time to release.
ONE PERSON COMPANY
FAQ
A Director and a nominee are required to incorporate a OPC.
A nominee is a person who takes over the company in the event of death or incapacity of the promoter.
The OPC shall inform ROC in form INC-5, if the threshold limits is exceeded and is required to be converted into private or public company.
A person can be member in only one OPC.
The company shall file form INC-4 in case of cessation of member of OPC on account of death, incapacity to contract or change in ownership. In the same form, user needs to provide details of the new member of the OPC.
Only a natural person who is an Indian citizen and a resident in India is eligible to incorporate a One Person Company or be a nominee member.
Form INC-5 shall be filed within sixty days of exceeding threshold limits
In such a case, such person shall meet the criteria of being a member in only one OPC within a period of one hundred and eighty days i.e., he/she shall withdraw his membership from either of the OPC’s within one hundred and eighty days.
Company’s proposed name should be unique i.e., it should not be identical to any existing name. Names that infringe others’ rights, trademarks or patents are likely to be rejected by ROC.
In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover exceeds during the relevant period exceeds two crore rupees, then the OPC has to mandatorily convert into private or public company.
About Wealth Bridge
We Help You To Form Your Company In A Simple Way Wealth Bridge Will Making More Possibilities which aims at providing much-needed funds to businesses across the trading and service industry
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Head Office
2nd Floor, #23, 8th East Main Road
Gandhinagar, Katpadi, Vellore
(+91) 416 2241199
(+91) 86677 53901
Branches
ARAKKONAM OFFICE
# 10/1, Thiruthani High Road ,
Upstairs to Central Bank ,Jothi Nagar,
Arakkonam , TamilNadu - 631003
Phone:+91 6381184522 , +91 8012747723.
RANIPET OFFICE
No 126, MBT Road, Mahaveer Complex,
First Floor, Muthukadai,
(NearDarling bakery) Ranipet - 632401
Phone : +91 417 2295006 +91 86675 42148