Udyam Registration For One Person Company (OPC)

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 with 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 the 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.

  1. Udyam Registration Certificate helps in getting the Government tenders
  2. Helps in getting low-Interest rate subsidy on bank loans
  3. 15% import subsidy on fully automatic machinery on bank loans
  4. Registered Udyam MSME, the enterprise gets tariff subsidies
  5. Collateral-free loans from financial institutes and banks
  6. Protection against delayed payments
  7. Exceptional beneficial reservation policies in the production/ manufacturing sector
  8. Ease of obtaining registrations, licenses and approvals.
  9. Udyam Registered enterprise gets eligible for CLCSS (credit linked capital subsidy scheme)
  10. International trade fair special consideration
  11. Electricity bills concession
  12. Stamp duty and registration fees waiver
  13. Compensation on ISO certification
  14. Direct tax laws rules exemption
  15. NSIC performance and credit rating fees subsidy
  16. Patent registration subsidy
  17. Barcode registration subsidy
  18. 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:

  1. 12 digit Aadhaar Number
  2. PAN Number
  3. GSTIN Number
  4. Bank account details

New Definition of MSME

Earlier, the MSMEs were defined based on 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) based on 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 Udyam Portal.

Key Highlight of New MSME Udyam Registration

  1. Fully online process Aadhaar OTP-based system
  2. It is a single-window registration portal
  3. No documents need to be uploaded
  4. No official Registration Fees, No Hidden Charges, No Bribe
  5. On submission, instant registration no. is generated
  6. Udyam Registration Certificate (URC) will have a dynamic QR Code
  7. Lifetime Valid certificate
  8. No renewal of Registration
  9. Any enterprise can file Udyam Registration only once
  10. With one Aadhaar Number, only one Udyam registration is possible
  11. 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, its benefits, and the 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).

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

Just fill out 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 the government provides to MSMEs.

You can visit https://msmeregistrar.org/ to get 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.

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LAST UPDATED ON : 22/05/2024
TOTAL VISITOR : 1,74,250


Lokesh Rawat, From Madhya Pradesh

Recently applied Udyam Certificate

⏰(1 Hours ago) Verified