Udyam Registration For One Person Company (OPC)

The Union Ministry of MSME has introduced a new online MSME registration process of the enterprise known as Udyam Registration to register under the Ministry of MSME on July 01, 2020.

The registration process for Udyam was initiated to ease of registration for small-medium enterprise on a single portal and reduces the processing time.

And as per the notification of the Indian Government, all existing MSME enterprises registered under Entrepreneur Memorandum EM–Part-II or Udyog Aadhaar Memorandum UAM (MSME/ Udyog Aadhaar) shall re-register again on the Udyam Registration portal on or after the 1st of July 2020.

If you already have MSME or Udyog Aadhaar certificate, now it's mandatory to register again on the Udyam portal. Click here to re-register again on the new MSME Udyam portal.

Any One Person Company (OPC) business that intends to establish a micro, small, or medium enterprise may file Udyam Registration online in the Udyam Registration portal.

Udyam Registration portal is a single-window online portal, on self-declaration with no documents required to upload, papers, certificates, or proof.

And all the existing MSME enterprises and businesses must re-register/convert to Udyam on or before 31st March 2021 to enjoy the MSME Benefits.

What is Udyam Registration? When was it established?

Udyam Registration is a quick and easy online process for enterprises registered under the Ministry of Micro, Small, and Medium Enterprises.

The new MSME registration process is a fully self-declaration, paperless portal, where to no documents. The new MSME registration portal is known as the Udyam registration portal.

After the Udyam registration, registered enterprises are given a permanent ID registration number which is known as Udyam registration number (URN), and an e-certificate which is known as the Udyam registration certificate (URC).

The Udyam registration process was established on July 1, 2020. Any One Person Company (OPC) enterprise can do the online registration process under MSME through this Udyam registration portal.

Benefits of Udyam Registration for One Person Company (OPC)

There are many benefits for a One Person Company (OPC) for registering under Udyam. The Government of India is focusing on the growth of small-medium enterprises. A few of the Udyam benefits are listed below.

Udyam registration certificate helps in getting the Government tenders
Helps in getting low-Interest rate subsidy on bank loans
15% import subsidy on fully automatic machinery on bank loans
Registered Udyam MSME, the enterprise gets tariff subsidies
Collateral free loans from financial institutes and banks
Protection against delayed payments
Exceptional beneficial reservation policies in the production/ manufacturing sector
Ease of obtaining registrations, licenses and approvals.
Udyam Registered enterprise gets eligible for CLCSS (credit linked capital subsidy scheme)
International trade fair special consideration
Electricity bills concession
Stamp duty and registration fees waiver
Compensation on ISO certification
Direct tax laws rules exemption
NSIC performance and credit rating fees subsidy
Patent registration subsidy
Barcode registration subsidy
Industrial Promotion Subsidy (IPS) Subsidy Eligibility

Documents required for Udyam Registration for One Person Company (OPC)

These are the important documents that are required for Udyam registration on the government portal:

12 digit Aadhaar Number
PAN Number
GSTIN Number
Bank account details

New Definition of MSME

Earlier, the MSMEs were defined on the basis of investments only, now the revised definitions will also include both turnover and investment of the company.

New Criteria for Classification of MSME - Micro, Small, And Medium Enterprises

An enterprise shall be classified as a Micro, Small, and Medium Enterprises (MSME) on the basis of the following new criteria, mentioned below:

Enterprises	Investment in plant & machinery/equipment
Micro Enterprises	The investment in plant & machinery/ equipment does not exceed Rs 1 Cr and turnover does not exceed Rs 5 Cr.
Small Enterprises	The investment in plant & machinery/ equipment does not exceed Rs 10 Cr and turnover does not exceed Rs 50 Cr.
Medium Enterprises	The investment in plant & machinery/ equipment does not exceed Rs 50 Cr and turnover does not exceed Rs 250 Cr.

An enterprise whose business will fall under this category can enroll themselves with Udyam registration on Government Udyam Portal.

Key Highlight of New MSME Udyam Registration

Fully online process Aadhaar OTP-based system
It is a single-window registration portal
No documents need to be uploaded
No official Registration Fees, No Hidden Charges, No Bribe
On submission, instant registration no. is generated
Udyam Registration Certificate (URC) will have a dynamic QR Code
Lifetime Valid certificate
No renewal of Registration
Any enterprise can file Udyam Registration only once
With one Aadhaar Number, only one Udyam registration is possible
Enterprises who have Entrepreneur Memorandum or Udyog Aadhaar Memorandum registration certificate or any other registration issued under the Ministry of MSME will also have to re-register themselves

One Person Company (OPC) Apply for Udyam Registration Today!

After reading this article, you must have understood the process of registration, and its benefits and its significance of having a Udyam Registration Certificate for your One Person Company (OPC) businesses.

Now the Udyam Registration online process is very simple and any applicant can easily register their One Person Company (OPC).

As the only legal document required to register a trade under UDYAM is the Aadhaar card, PAN card, and GSTIN and bank account details which make the online registration of the Udyam process extremely quick.

Just fill the Udyam application form carefully and avoid any spelling mistakes. Udyam registration certificate makes sure that the One Person Company (OPC) utilizes all the benefits of the government provides to MSMEs.

You can visit https://msmeregistrar.org/ for getting your One Person Company (OPC) business registered under Udyam, a professional Udyam registration expert who will process your registration on the Government Udyam registration portal at low service fees.

Thank you for reading this article. Visit the website https://msmeregistrar.org/ for more information on related topics. In case of any help, reach out to us just by filling up the Udyam enquiry form and one of the executives will call you through Udyam helpline number.