One Person Company
The perfect structure for solo entrepreneurs and proprietorship firms that seek independent business structure. Register as OPC!
₹ 8,000

Overview

One person company (OPC) is a new concept that gained a big success for sole entrepreneurs and proprietorship firms. It combines the benefits of a private limited company with that of a proprietorship firm and thus, allows an individual to reap the benefits of being a company with limited liability. The individual can take riskier decisions without having to worry about losing personal assets and this has encouraged many startups and young entrepreneurs to register as an OPC. Register a One Person Company in India and accelerate your business.

Documents Required

Documents of Director and Nominee:

  1. Passport size photo
  2. Address proof (Aadhaar/ Voter ID)
  3. PAN card

Office Address:

  1. Latest utility bill (electricity/ water) 
  2. No Objection certificate from Property owner

Company Details

  1. Name of the company

One Person Company has only one director. In case you’ve more than one director, you’ll need to form a Private Limited Company.

Services Covered

  1. Filing of E-forms with the Registrar of Companies (ROC)
  2. Director Identification Number (DIN) and Digital Signature Certificate (DSC)
  3. Name approval with RUN (Reserve Unique Name)
  4. Filing of SPICe form
  5. Drafting MoA and AoA of company
  6. Issue of Incorporation Certificate
  7. PAN and TAN application
  8. Filing of SPICe form
  9. Includes govt fees and stamp duty for authorised capital up to Rs 1 lacs.

Excludes Foreign National or Foreign Body corporates as director OR businesses that need approval from RBI, SEBI or IRDA for incorporation.

Nominee in One Person Company

It’s mandatory to have one person as Nominee director, who will control the entity after the expiry or incapacity of the current director.

Withdrawal of Consent

The nominee is entitled to withdraw her consent, in which case the director is required to nominate another nominee within 15 days. The withdrawal and the nomination of a new person must be intimated to the RoC within 30 days.

Change of Nominee

The director can change the nominee for any reason by providing notice in writing. Again, the change and the nomination of a new person must be intimated to the RoC within 30 days

Conversion of OPC to Private Limited:

If an OPC company has a turnover of Rs. 2 crores for three years or the paid-up capital increases above INR 50 lakh, it's to be converted to a Private Ltd. or Public Ltd. within six months.

Maintaining One Person Company

Every company, post incorporation requires help from Three professionals: CS, who looks after regulatory compliance, CA, who does accounting and taxation, External CA, for doing external audits. Learn more about compliance here.

FAQs
I don’t have a commercial address. Is it necessary to have a commercial address for registration?

Your registered office need not be a commercial space; it can be your residence too. A recent copy of the utility bill and an NoC letter from the utility bill owner to use the address for company incorporation should be submitted.

Do I have to visit any office for incorporation?

The incorporation process is completely online, so you don’t have to visit any place and can get the company registered from anywhere.

Is it necessary for the Indian Director to be the shareholder of the company?

Yes, for OPC, the director must be an Indian resident.

Is it necessary to have a company’s books audited?

Yes. It’s necessary to appoint an auditor within 30 days of incorporation.

What are limitations of an OPC?

OPC can have only one director and shareholder. Also, there are often no opportunities for contributing to employee stock options or equity funding and OPC has to be mandatorily converted to Private Limited once it has a turnover of Rs. 2 crores for three years or the paid-up capital increases above INR 50 lakh.

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