One Person Company

Incorporate your One Person Company

Want to Register "One Person Company"

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Services

Our Package includes the followings:

  1. Director Identification Number: one
  2. Name Approval
  3. Authorized Capital upto Rs. 1 lakh
  4. Incorporation Certificate
  5. Current Account Opening
  6. PAN & TAN
  7. ESIC & EPF Registration
  8. MSME Registration (Complimentary)
  9. GST Registration
  10. Any Government fee, if applicable and the cost of digital signatures shall be paid by you directly for which we will share the challan/bill.
    Rs.7750/-
    Rs.5500/-

About One Person Company

The concept of One Person Company in India was introduced through the Companies Act, 2013. One Person Company feature is such that it has only one shareholder who owns 100% stake of the company. To maintain the character of permanence, the appointment of the nominee is compulsory, who will take place of the owner in case of death or his inability. One person company is a type of Private Limited Company.

This advanced idea was launched for the incorporation of micro-businesses and persons with entrepreneurial ideas and to give a boost to entrepreneurs who have high prospective to begin their project by letting them to build a single person company. This encourages more people to come forward to commence a business. The OPC is fit for small businesses where the turnover is not likely to cross Rs. 2 Crores and paid up capital not more than 50 Lakhs. In OPC Registration its important to note that the nominee or the director should be Indian Resident.

Some of the eligibility Guidelines to operate OPC in India are:-

1. Only a natural person who is Indian Citizen and resident in India can incorporate OPC.-

2. A nominee must be appointed by the promoter during incorporation to run the business after the death of the owner.-

3. Businesses involved in financial activities cannot be incorporated as an OPC.-

4. OPC must be converted to a private limited company when paid-up share capital exceeds Rs.50 lakhs or turnover crosses Rs.2 crores.-

Documents Required

  Copy of PAN card of the Director and Nominee
  Copy of identity proof (Voter Id/ Driving License) of the Director and Nominee
  Copy of residential address proof (Bank Statement/ Electricity Bill/ Telephone Bill/ Mobile Bill/Bank Statement) of the Director and Nominee
  Copy of Rent agreement and No objection certificate (NOC) from the owner (if rented)
  Sale Deed/ Lease deed if property owned
  Copy of electricity bill/landline bill/water bill.
  Details of Business activity including name of top products/services.

Benefits of One Person Company

Separate Legal Existence:

A One Person Company has a status of a separate legal entity. Such OPC registration ensures that the entity is separate from the owner, unlike a proprietorship firm. OPC can own the assets in its own name and enter into a contract with the parties. The actions of the company are independent of the owner.

Lower Compliance Requirements:

A One Person Company has an exemption to many compliances unlike a private company. Compliances like holding General and Board Meeting, etc. are not applicable to OPC. Also there is no requirement to hold an Annual General Meeting.

Limited Liability of Owners:

One of the benefits of registering OPC lies in the separate legal entity of the company where the liability and obligations are not charged over the personal assets of the sole member. The liability of a member is limited to the unpaid amount of the capital subscribed by the member.

Every company in India is required to prepare and file financial statements that include balance sheet, profit and loss account, cash flow statement, statement of changes in equity and explanatory notes. In the case of One Person Company, a cash flow statement is not required.

Frequently Asked Questions (FAQs)

 

"Below mentioned are the prerequisites to register an OPC in India: * The shareholder must be individual and Indian resident * A nominee who is above the age of 18 years and Indian resident must be appointed as Nominee on registration. * The paid up capital must not be more than Rs. 50 Lakhs."
No, the requirement to provide minimum paid-up capital for OPC registration is now removed. The amount required for starting a business must be subscribed while registering OPC. Further, the subscriber must hold at least one share for registration.
A person who is minimum of 18 years i.e.; major, and is an Indian resident. Additionally, the nominee must provide his consent to the company for his/ her appointment through a form INC-3.
Yes, an OPC can carry multiple businesses if it is mentioned in the MOA of the company and approved by the registrar. The company can mention more than one business which is ancillary to the main objects.
No, only an individual can obtain membership or become the nominee in OPC.
An OPC can be converted into Private or Public Company upon completing 2 years from the date of Incorporation unless it is a mandatory conversion.
It is required to convert an OPC into a Private or Public Company when the paid-up capital of the OPC exceeds 50 lakh Rupees, or the Average Annual Turnover during the relevant period exceeds 2 Crore Rupees. This mandatory conversion will take effect irrespective of the period of existence of OPC.
During every financial year, the accounts and financial statements must be audited by an independent auditor. Subsequently, it shall file form AOC 4 and MGT 7 as a part of Annual Compliance within the given time.
If the member dies, the nominee takes over the activities of the company and within 15 days, the company has to intimate the Registrar of Companies by registering Form INC-4 with the designated fee.
OPC cannot be incorporated or transformed into Section 8 Company i.e. the company with charitable purposes etc. Also, cannot carry out any non-banking financial activities, including investment in securities of all body corporate.