Cardiff Services

Closure OPC

Closure of OPC

At Cardiff Service, we specialize in helping businesses navigate corporate compliance with ease. One Person Company (OPC) is a unique business structure under the Companies Act, 2013, allowing a single individual to incorporate a company with the benefits of limited liability and corporate status while minimizing compliance burdens.

 

However, if your OPC is no longer active or viable, continuing it may lead to unnecessary compliance costs and penalties. Cardiff Service provides end-to-end assistance for OPC closure under the Fast Track Exit (FTE) Scheme or the normal strike-off procedure, ensuring a hassle-free and legally compliant process.

Why Cardiff Service for OPC Closure?

  • Expert Guidance – Our compliance specialists ensure your closure process is error-free.

  • End-to-End Support – From documentation to filing with ROC, we handle it all.

  • Hassle-Free Exit – We make sure you exit without penalties or liabilities.

  • Client-Centric Approach – Quick, reliable, and transparent service tailored to your needs.

Benefits of Closing an OPC with Cardiff Service

Closing a One Person Company (OPC) through the Fast Track Exit (FTE) process offers multiple benefits, especially for inactive companies that no longer wish to bear unnecessary compliance costs. At Cardiff Service, we make the closure process seamless, ensuring you enjoy the following advantages:

 

  •  Relief from Compliance Burdens:- Once an OPC is officially closed, there is no requirement to file annual returns, maintain statutory registers, or comply with MCA and tax-related obligations. Cardiff Service ensures your business is legally struck off, freeing you from ongoing compliance hassles.
  • Avoidance of Penalties:-Inactive OPCs that are not properly closed may still attract penalties, late fees, and statutory liabilities. By opting for closure with Cardiff Service, you protect yourself from future penalties and safeguard your financial interests.
  • No Record-Keeping Obligations:- After strike-off, you are no longer required to maintain financial records or undergo statutory audits. Cardiff Service ensures the entire closure is handled smoothly, relieving you from audit and record-keeping responsibilities.
  • Cost-Effective Exit:-The FTE process helps businesses avoid unnecessary expenses such as statutory filings, professional fees, and government charges. With Cardiff Service, your OPC can be legally dissolved in a cost-efficient way, making it ideal for companies that are no longer active.
  • Clean Exit & Peace of Mind:-A proper closure ensures your OPC is officially removed from the corporate framework, preventing future legal complications. Cardiff Service provides complete guidance, ensuring no pending obligations remain with the Registrar of Companies (ROC) or any other authority.

Eligibility Criteria for OPC Closure

The closure or strike-off of a One Person Company (OPC) in India is subject to specific eligibility criteria under the Companies Act, 2013. At Cardiff Service, we ensure that your company meets all the necessary conditions for a smooth and legally compliant closure.

Key Requirements for OPC Closure:

  1. No Recent Business Operations

    • The OPC must not have carried out business activities for at least two consecutive financial years before applying for closure.

    • If it was operational, it must settle all liabilities, clear outstanding statutory dues, and obtain a No Objection Certificate (NOC) from creditors.

  2. No Pending Legal Issues

    • The OPC should not have ongoing litigation, pending tax assessments, or unresolved disputes with government authorities.

  3. Up-to-Date Filings

    • Financial statements and annual returns must be up to date and filed with the Registrar of Companies (ROC).

    • Forms like AOC-4 (financial statements) and MGT-7 (annual returns) must be filed before submitting the strike-off application.

  4. No Outstanding Assets or Liabilities

    • Any remaining assets must be disposed of and liabilities must be fully settled before proceeding.

    • An affidavit and indemnity bond by the director are required to confirm no outstanding dues exist.

  5. Regulatory Compliance

    • If registered under GST, proper GST cancellation is mandatory.

    • Any licenses or registrations obtained from regulatory bodies must be surrendered before closure.

  6. No Fraudulent or Regulatory Violations

    • Companies with fraudulent activities, financial misconduct, or regulatory violations are not eligible for the Fast Track Exit (FTE) process.

    • The ROC can reject an application if discrepancies or pending matters are found.

Documents Required for OPC Closure

To successfully close a One Person Company (OPC), specific documents must be filed with the Registrar of Companies (ROC). At Cardiff Service, we guide you through the documentation process to ensure a smooth and hassle-free closure.

Mandatory Documents for OPC Closure:

  • Memorandum of Association (MOA) & Articles of Association (AOA)

  • Certificate of Incorporation

  • PAN card & other registration certificates (if applicable)

  • Recent financial statements (prepared within 30 days before filing the closure application)

  • Indemnity Bond (STK-3) notarized by the director

  • Statement of pending litigations (if any)

  • Statement of Accounts – showing assets & liabilities, certified by a Chartered Accountant (CA)

  • Affidavit in Form STK-4 by the sole director

  • Signed board resolution by the sole member

  • Bank account closure certificate with account details

  • No Objection Certificate (NOC) from creditors (if applicable)

  • NOC from tax authorities confirming that no dues are pending

Procedure for OPC Closure Under Fast Track Exit (FTE) Scheme

Closing a One Person Company (OPC) under the Fast Track Exit (FTE) Scheme involves a step-by-step process to ensure compliance and smooth execution. At Cardiff Service, we simplify this procedure for you:

  • Step 1: Settlement of Liabilities:-Before applying for closure, all outstanding liabilities must be cleared. A No Objection Certificate (NOC) from creditors is required to confirm that no dues are pending. Cardiff Service assists in verifying and settling these obligations.
  • Step 2: Preparation of Application:-The closure application is prepared in Form STK-2, along with all necessary supporting documents. Cardiff Service ensures accurate preparation to avoid delays or rejections.
  • Step 3: Submission of Required Documents:-The application must include:

  • Memorandum of Association (MOA) & Articles of Association (AOA)

  • Certificate of Incorporation

  • PAN card

  • Bank account closure certificate

  • Financial statements

  • Indemnity bond

  • Affidavit from the sole director

Our team handles end-to-end filing with the Registrar of Companies (ROC).

  • Step 4: ROC Processing and Approval:- Once submitted, the ROC reviews the application. If all requirements are met, the ROC strikes off the OPC from the register, officially closing the company. Cardiff Service ensures timely updates and complete support until final approval.

Frequently Asked Questions

A company name search ensures that your chosen business name is unique, legally compliant, and not already registered with Companies House UK. It helps you avoid legal disputes, trademark issues, and confusion in the Cardiff business market.

If your desired name is already registered, you’ll need to choose a different name or modify it. Using a taken name could result in rejection by Companies House or potential legal issues. Our experts can help you brainstorm alternative names that are compliant and market-ready.

It’s not advisable to use a name that’s too similar to another company, especially within the same industry. Similar names can confuse customers and risk trademark disputes. A company name search helps you identify these risks early.

For a company name search in Cardiff, you may need:

  • Proposed company name

  • Business entity type (Ltd, LLP, Partnership, etc.)

  • Jurisdiction (Cardiff / UK)

  • Owner or shareholder details (if applicable)

  • Business description

A “high probability” result means your proposed company name is likely to be available, but further checks are recommended. This is why our detailed Cardiff Company Name Search Report includes both identical and similar names for clarity.

Certain words are restricted under UK law (e.g., “bank,” “insurance,” “government”). If you want to use them, you’ll need special approval from regulatory bodies. We guide you through this process if your Cardiff business requires such terms