Out of the various types of services, we also help in incorporating a one person company in Tripura (OPC), a new and simple concept for company registration where only one person is required to register a company, as well as a director and shareholder in a company. In comparison to private and public limited company, OPC in Tripura are very easy to register and the formalities to be complied with are also less as compared to private and public limited company also the cost of maintaining and registering the opc is less as compared to the cost of registering a public and private limited company and is one of the initiatives in the director of “Ease of Doing Business in Tripura” as introduced by Hon’ble Prime Minister of Tripura.

Mr. Narendra Modi. Therefore, OPC’s are preferred by entrepreneurs all over Tripura and they are taking advantage of the new concept by converting their proprietorships into OPC’s, as most of the features of private and public limited companies are also their own in one person company in Tripura but with fewer legal formalities and being more cost-effective.

Why a One Person Company in Tripura?

The concept of one person company in Tripura (OPC) is a new vehicle/form of business, introduced by the Companies Act, 2013, there by enabling Enterpreneur(s) carrying on the business in the Sole-Proprietor form of business to enter into a corporate framework. A one person company is a combination of sole-proprietor and company form of business, and has been provided with concessional/relaxed formalities under the Companies Act, 2013.Small entrepreneurs can carry on their business in form of OPC with status of separate legal entity.

The concept is good for entrepreneurs with new ideas and ventures and explores the corporate world with minimum compliance and maximum benefits as exemptions. Various small and medium enterprises, doing business as sole proprietors, might enter into the corporate domain through OPC. The unorganized sector of the economy will find an outlet to show their entrepreneurial expertise. So small entrepreneurs enjoy the benefits of register one person company online Tripura.

OPC companies are like a one-man army. the compliance burden is very low, and the liability of the members is very limited to the amount invested by them as capital, which is an added advantage. OPC registration in Tripura is expected to benefit people who are into self employment and many small scale enterprises. it is one of the remarkable features of the companeis Act (2013 to grow the spirit of entrepreneurship and boost the confidence of small entrepreneurs in the country so that more and more people can start their own business and become self-employed, thereby reducing unemployment in the country.

Benefits of a One Person Company in Tripura (POC):

(1) The liability of the members is limited.

(2) The compliance requirement is very low.

(3) Your business will be set up in a more organized manner.

(4) Customers will have more faith in your business as it is a registered entity, unlike a proprietorship.

(5) You will get more clients.

(6) More growth and development.

(7) Efficiency and effectiveness will increase.

(8) Better management practices will follow.

(9) No requirement of minimum capital can have capital up to 50 lakhs.

(10) Can have a maximum turnover of up to 2 crores.

Documents of Porposed Director:

(1) Photo of Proposed Director.

(2) A copy of PAN card.

(3) A copy of Aadhaar card.

(4) Email ID of Proposed Director.

(5) Mobile Number of Proposed Director.

Documents of Nominee Director:

(1) Photo of Nominee Director.

(2) A copy of PAN card.

(3) A copy of Aadhaar card.

(4) Email ID of Nominee Director.

(5) Mobile Number of Nominee Director.

Requirements for registering OPC:

Only one shareholder is eligible to incorporate an single person company in Tripura One nominee is required.(in the event of incapacity of an original member, nominee will become member.) Must have a minimum one director;

The sole shareholder can himself be the sole director.

Frequently Asked Questions about One Person Company (OPC):

1. How do you incorporate a one person company (OPC)?

(a) First of all, we have to file e-form INC-1 for the purpose of name availability.

(b) After getting the name available, we need to file INC-2 for incorporating the one person company in Tripura, but one thing we should keep in mind is that the form INC-2 should be filed within 60 days from the date of approving INC-1.

(c) Then we need to file e-form DIR-12 for the director of the company along with the linked form INC-2, except when the promoter is the sole director of the one person company in Tripura (OPC).

(d) After approving Form 12, the company has to file e-form INC-22 within 30 days.

2. If there is any change in membership of One Person Company (OPC), how do we inform Roc about this?

This company shall file INC-4 for any change.

3. What is the threshold limit for OPC to be mandatorily converted into a private or public company?

In cases where paid-up share capital exceeds Rs. 50 lacs or turnover exceeds Rs. 2 crore,. In that case, a company should mandatorily need to be converted into a public or private company after breaching the threshold limit provided in the act. We cannot work as a one person company in Tripura (OPC).

4. How do intimate to ROC that the OPC has breached his threshold limit?

Intimate through e-form INC-5.

5. What is the time limit for filing the form INC-5?

Form INC-5 should be filed within 30 days.

6. What is the form required to be filed for converting the OPC into a private or public company or vice versa?

In both cases, the company needs to file e-form INC-6 for convert one person company in Tripura into Private or Public Company or vice versa.

7. What is the time limit for filing INC-6?

The form should be filed within 30 days in the case of voluntary conversion and within 6 months in the case of mandatory conversion.

8. Who is eligible to act as a member of One Person Company in Tripura (OPC)?

Only a natural person who is an Tripuran citizen and resident in Tripura will be eligible to act as a member or nominee.

9. In how many companies can a person become a member ?

In the case of OPC company in Tripura, only in one company can a person become a member.

10. In how many companies can a person become a member ?

Form INC-4 shall be filed in case of withdrawal of consent.

External Government Website Link: MCA