One Person Company Registration
- To Incorporate a OPC Only one person is required.
- To incorporate a OPC minimum Rs 1 Lakh Authorised capital is required.
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One Person Company Registration
The introduction of One Person Company brought One Man Show’s contribution to the economy. “One Person Company” has been defined under section 2(62) of the Companies Act, 2013 as a company which has only one person as member. It gives the individual entrepreneurs all the benefits of a company i.e., they can get credit, bank loans, access to market, etc.
Process of One person company registration
Name Approval Application
The second step is the name approval application. The name of the company will be in the form of “XYZ (OPC) Private Limited”. Once the name is approved by the MCA, we will submit documents to ROC including MOA, AOA, proof of registered office, etc.
DIN & DSC
Apply for DIN and DSC of the proposed director with the required documents. For DIN, application has to be made in SPICe Form.
Filing of e-forms with ROC
All the documents will be attached to e-forms and will be uploaded to MCA website for approval. At the time of incorporation, PAN & TAN will be automatically generated.
Issue of Incorporation Certificate
ROC will issue incorporation certificate on verification of all the documents submitted.
Advantages of One Person Company
Unconventional Existence
OPC is considered as a separate legal entity in the eyes of law, distinct from its owner, having a common seal and perpetual succession.
Limited liability
Unlike sole proprietorship, the concept of OPC in India implies that the liability of the member will be up to the extent of his share in the company i.e. the liability will be up to the amount he has invested in the business.
Complete control over business
As OPC is completely controlled and managed by the single owner, it leads to quick decision making, controlling and management of business.
Legal status and credit worthiness
OPC has a kind of business structure which enables it to enjoy corporate status in society. This in turn, also helps the entrepreneur to attract quality workforce as well as new clients for the business and further contribute in the most efficient way.
Documents required for one person company registration
- Identity Proof
- PAN / Passport / Driving License / Voter ID Card
- Address Proof
- Aadhar Card / Bank Statement / Electricity Bill / Telephone Bill
- Consent of nominee in INC 3
- MOA & AOA
- Affidavit from subscriber and first director in form INC 9
- Proof of registered office address
- Consent from director
Packages
Basic
What's included
- OPC Registration
- Digital Signature Certificate
- Incorporation Certificate
- MOA/AOA
- Expert Consultancy
Basic
What's included
- OPC Registration
- Digital Signature Certificate (1 Nos.)
- MOA/AOA
- Incorporation Certificate
- GST Registration
- Expert Consultancy
Basic
What's included
- One Person Company Registration
- Digital Signature Certificate
- Incorporation Certificate
- AOA/MOA
- GST Registration
- GST Filings GSTR3B & GSTR1 (for 6 months)
- Expert Consultancy
Frequently asked questions
1. What are the types of formation of One Person Company?
One person company can be formed in 3 ways:
- Limited by shares
- Limited by guarantee
- Unlimited company
2. In how many One Person Company, a person can be a member?
In continuation of one company, owner can not start any other company. If he does than he has to withdraw his membership from any one company.
3. Can Non-Resident start One Person Company in India?
No, only Indian citizen or Resident in India can start One Person Company.
4. How many directors can be in One Person Company?
Minimum 1 and maximum 15 directors are allowed in One Person Company.
5. Is there any legal requirement to conduct annual general meeting?
No, it is not mandatory for One Person Company.
6. Can we convert One Person Company into Public or Private?
Yes, you can convert it if you want and there are some cases where compulsory conversion is also required like changing in rules or exceeding of maximum authorized capital.
7. How One Person Company is better than Sole Proprietorship?
In Sole Proprietorship, Liability of sole proprietor is unlimited but in One Person Company, liability of owner can be limited up to his investment.
8. Is it compulsory for member to be a director of company?
No, member and director can be a same person or different persons.