One Person Company Registration

Experience India’s Fastest and Transparent One Person Company Registration Process

OnePersonCompanyRegistration

What is the Difference between OPC & Sole Proprietorship?

One Person Company is a separate Legal entity with just one member. Unlike a private limited company which requires minimum 2 shareholders and 2 directors, an OPC can be formed with only one shareholder. The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity.

Advantage

One Person Company is a Private Limited Structure. It is Most popular Structure in the world. An individual can start its business without the restriction to have 2 directors in One Person Company.

Disadvantage

OPC is suitable only for small business. OPC can have maximum paid up share capital of Rs.50Lakh and turnover of Rs. 2 Crores otherwise OPC need to be converted into Private Limited Company.

Documents Required For One Person Company Registration

FOR DIRECTORS

  • PAN (Permanent Account Number) of all proposed directors.
  • Identity proof (Voter Id, Passport, Driving License, Aadhar Card) of all proposed Directors.
  • Latest passport size Photographs of all directors.
  • Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement or Bank Passbook with latest Transaction page
  • Email id and Mobile of all the Directors.

FOR SHARE HOLDERS

  • PAN (Permanent Account Number) of all proposed Share Holders
  • Address Proof (Voter Id, Passport, Driving License, Aadhar Card) of all proposed ShareHolders
  • Latest passport size Photographs of all Share Holders.
  • Additional Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement
  • Email id and Mobile of all the Shareholders

FOR REGISTERED ADDRESS

  • Electricity Bill OR Mobile Bill OR Gas Bill along with NOC and Rent agreement if premises is on rent

Process Involved

  • STEP-1

Reserve Unique Name (Run Application)

Reserve Unique Name (Run Application) And Get Name Approval Letter

  • STEP-2

Apply for Digital Signatures

Once ID proofs and signed documents are received, Digital Signature is applied for Directo

  • STEP-3

Apply for Digital Signatures

Once ID proofs and signed documents are received, Digital Signature is applied for Directors

  • STEP-4

Incorporation Form SPICe

Incorporation Application is prepared and filed with ROC

  • STEP-5

Incorporation Approval

MCA check and Approves the Incorporation Application.

  • STEP-6

PAN and TAN

PAN is applied based on Incorporation Certificate after that TAN is applied Once we receive copy of PAN cardp>

OnePersonCompanyRegistration
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FAQs

One Person Company is set to organize the unorganized sector of proprietorship firms. OPC will have incredible prospect and it will be embraced as a booming business model. For small to mid level entrepreneurs, OPC is the scope for them to grow and to get recognition globally even for their single person entity. Comparatively in OPC there will be less paper work. OPC allows a single person to run a company with limited liability, in case of a sole proprietorship.

Only a natural person, who is an Indian citizen and resident in India shall be eligible to incorporate a One Person Company. Explanation: The term "Resident in India" means a person who has stayed in India for a period of not less than 182 days during the immediately preceding one calendar year.

One Person Company can be started with any amount of capital. As per latest circular, MCA has removed the Minimum Capital required for formation an OPC.

A person can be member in only one OPC.

In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover exceeds during the relevant period exceeds two crore rupees, then the OPC has to mandatorily convert into private or public company.

The Director of the OPC can be remunerated and contracts can be entered with it shareholders and its directors. Directors’ remuneration, rent and interest are deductible expenses which reduces the profitability of the Company and ultimately brings down taxable income of your business.

No. Only an Indian citizen and resident can form an One Person Company.

Following persona are disqualified to form an One Person Company: o A minor. o A foreign citizen. o Non-Resident. o A person incapacitate to contract. o Any other person apart from living person.

An One Person Company can engage in any sort of business activities apart from Non Banking Financial Investment Activities including “investment” in securities of body corporates.

OPC can be registered only as a private company which means that all the provisions applicable to private company will be applicable to an OPC, unless otherwise expressly excluded in the Act or rules made there under.

OPC cannot be incorporated or converted into Section 8 Company (i.e. company with charitable objects, etc.) or carry out non-banking financial activities, including investment in securities of any body corporate.

If an OPC or any officer of such company contravenes the provisions of Co. Incorporation Rules, 2014, such contravening party will be punishable with fine which may extend to Rs. 10,000/- and with a further fine which may extend to Rs. 1000 for every day after the first during which such contravention continues.

Following sections are not applicable to OPCs- • Section 98 (Power of Tribunal to call meetings of members, etc.) • Section 100 (Calling of EGM) • Section 101 & 102 (Notice of Meeting & Statements to be annexed to Notice) • Section 103 (Quorum of Meetings) • Section 104 (Chairman of Meetings) • Section 105 (Proxies) • Section 106 (Restriction on Voting Rights) • Section 107 & 108 (Voting by show of Hands & by Electronic Mode) • Section 109 & 110 (Demand for Poll & Postal Ballot) • Section 111 (Circulation of Member’s Resolutions)

Every company shall, at the first Annual general meeting appoint an individual or a firm as an auditor who shall hold the office from the conclusion of that meeting to the conclusion of its sixth annual general meeting and the manner and procedure of selection of auditors by the members of the company at such meeting shall be such as may be prescribed.

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