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CA Alok Patnia

CEO & Managing Partner at
Taxmantra Global Network Firms

Alok is the CEO and Managing Partner at Taxmantra Global Network Firms. He is a Fellow Member of the ICAI (FCA), an alumnus of St. Xavier’s College, Calcutta, with post qualification exposure in KPMG and Ernst & Young. He has authored more than 2K blogs on Taxmantra.com and also writes as guest author on platforms such as YourStory.com, Moneycontrol.com.

Kenneth Ho

VP Operations – TaxMantra Global Network (Singapore)

Kenneth Ho currently serves as VP Operations (Singapore) as Taxmantra Global Network firms, is a professional trained Accountant with more than 10 yeaars of experience gained from his employment with 2 mid-tier international accounting firms and 2 global outsourcing firms. Not limiting his exposure to accounting compliance, his experience includes corporate secretarial compliance, personal &and corporate tax compliance, Goods and Services Tax (GST) compliance and payroll compliance services too

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Frequently Asked Questions

  • 1. What are the type of companies that I can register in India?

    • One Person Company (OPC) – It is a form of company with only one member.The process of starting up an OPC is same as that of a general private limited company. It is a hybrid structure that infuses the benefits of a sole proprietorship business with a company form of business. For more details on One Person Company, please click FAQs on One Person Company
    • Private Limited Company- A separate legal entity with perpetual succession. A minimum of two persons are required for a company registration. Interestingly, no MINIMUM PAID UP CAPITAL is required to start a company.
    • Click here to know more: 5 reasons private limited companies are back in fashion
    • Public Limited Company- At least least three directors. A public limited company can start its operations only after obtaining a Certificate of Commencement from the Registrar in addition to Certificate of Incorporation.
    • Company Limited by Guarantee – A major difference of this form of company with other forms is that it does not have a share capital or any shareholders. Incidentally, the company is governed by its members, and the extent of their liability is defined by the Memorandum of Association.
    • Non-profit Organizations (Generally known as Sec.8 Companies) – In India, popularly called Non-Profit organizations, come in three flavors, namely Trusts, Societies, Section 8 companies.
  • 2. What is a One Person Company (OPC)?

    A One Person Company (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. Section 2(62) defines One Person Company as a company which has only one person as a member. For more details on One Person Company, please click FAQs on One Person Company

  • 3. What will be the form of One Person Company?

    One Person Company will be formed as a “Private Limited Company”. It can be formed as company limited by share capital or limited by guarantee or unlimited company. The words “One Person Company” will have to be mentioned in brackets below the name of such company, wherever its name is printed, engraved or affixed.

  • 4. What is the minimum authorized capital for starting up a One Person Company?

    The process of starting an One Person Company is the same as that of a general private limited company. Hence, the minimum authorized capital of the One Person Company would be Rs. 1, 00,000. However, there is no minimum paid up capital requirement.

  • 5. What is the minimum number of directors and shareholders to form a One Person Company?

    An One Person Company can be started with one director and shareholder

  • 6. Who is a nominee in a One Person Company?

    A nominee is a person who in the event of death or disability of the subscriber of the One Person Company shall assume his position. Memorandum of Association of an One Person Company will mandatorily prescribe the name of the person.

  • 7. Can I appoint my wife as my nominee for my One Person Company?

    Yes. Anyone can be appointed as a nominee, provided he or she holds a correct PAN in his or her name.

  • 8. How many One Person Companies can I form?

    One individual can form only one One Person Company.