One Person Company Registration

    - Work handled by professionals
    - Complete Online Process
    - Suitable for person with sole proprietorship business model

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OPC Registration

One Person Company is a new concept in India. A single person can now incorporate a Company with one member and Director. Such encourages more people to come forward to start the business. It is a type of Company Registration with lesser compliance requirements. A single member enjoys sole authority in running the business.

The business owner gets OPC name with (OPC) Private Limited at the end. OPC company can have only one shareholder, but there can be more than one Director. Both Residents of India and NRI can now do OPC Registration in India.

One Person Company registration is a quick and effective way to run a business in India. The shareholder has to give a nominee name while registration of an OPC.

There is no rule under the Companies Act, 2013 to have any amount as the least paid-up capital. Any person can do OPC registration with any amount of capital.

It offers a flexibility of a private limited company and an LLP. A shareholder cannot incorporate two One Person Companies. Also, a natural person can become a shareholder in an OPC.

Advantages of One Person Company

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LIMITED LIABILITY

A LLP is a separate legal entity. LLP partners assumes limited liability only as per the law.

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FUNDING OPTIONS

A LLP is a good option to generate fundings from bank or investor against profit sharing.

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BUSINESS CREDIBILITY

A One Person Company is a registered entity. It has more business credibility as compared to other unregistered entities.

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LESS BURDEN

There are fewer compliances contemplated under the law for a One Person Company. Owner can focus more in business rather in compliances.

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FUNDRAISING

A Company can also take funds through various modes such as bank loans and funds to run a business.

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QUICKER ACTIONS

As there is only a single member in the OPC, taking decisions is easy. Ownership lies with only a single person.

Documentation for one person company registration

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Passport size Photograph

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Copy of PAN Card

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Copy of Electricity Bil

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Sale Deed (if owned)

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Copy of Aadhar Card

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Address Proof (Bank Statement/Mobile/Telephone Bill)

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Copy of rent agreement (if rented)

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NOC

Packages





Note:


opc

Process involved in registering a One Person Company Registration

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1

Getting sorted with Digital signatures

1-2 working days

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2

Applying for the name

2-3 working days

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3

Filling for the incorporation

3-5 working days

Requirements for OPC registration

    - DIN and DSC of all the Directors
    - Minimum 1 Directors
    - Only 1 shareholders
    - One nominee
    - There should be some amount as paid up share capital.
    - At least one Indian resident Director.
    - Registered office address in India.
Sl. No. Particulars Private Limited One Person LLP
1 Eligibility Any individual may form a PLC. Only a natural person who is an Indian citizen and resident in India. shall be eligible to incorporate an OPC. Any individual and body corporate may be a partner in LLP.
2 Taxation Taxed at 30% plus surcharge and cess as applicable. Taxed at 30% plus surcharge and cess as applicable. Taxed at 30% plus surcharge and cess as applicable.
3 Closure/Dissolution/ Winding ups Can be initiated- Voluntarily, or By the Tribunal Can be initiated- Voluntarily, or By the Tribunal Can be initiated- Voluntarily by the partners or; By the Tribunal
4 Existence or Survivability PLC is not dependent on the directors or shareholder. Can be dissolved only voluntarily or by Regulatory Authorities. Existence of an OPC is not dependent on the Director or Nominee Director. Could be dissolved only voluntarily or by Regulatory Authorities. LLP can continue its existence irrespective of changes in partners.
5 Credibility High Medium Medium
6 Statutory Audit Compulsory Compulsory If Contribution > Rs 25lacs or, Turnover > Rs. 40lacs
7 Minimum Requirement Members-2 Directors-2 Member – 1 Director – 1 Nominee of Sole Member – 1 Designated Partners – 2
8 Fund Raising Options High Low Low
Privileges on choosing OPC :

  • - One Person Company registration in flexible in nature offering to represent the company as credible entity.
  • - Eligible for loans from banks as they are represented as a company identity.
  • - No complex process involved as the primary goal is to give simpler steps for encouraging more entrepreneurs to come forward.
  • - No complex process involved as the primary goal is to give simpler steps for encouraging more entrepreneurs to come forward.
  • - The liability is established under the Companies Act of 2013.
  • - Is free from taxation out of the box till 2 crores of turnover.

Mandatory Requirements for One Person Company (OPC) Registration

  • - DIN and DSC of all the Directors
  • - Minimum 1 Directors
  • - Only 1 shareholders
  • - One nominee
  • - There should be some amount as paid up share capital.
  • - At least one Indian resident Director.
  • - Registered office address in India.

Unique Features of single person company

    - One Person Company registration in flexible in nature offering to represent the company as credible entity.
    - Eligible for loans from banks as they are represented as a company identity.
    - No complex process involved as the primary goal is to give simpler steps for encouraging more entrepreneurs to come forward.
    - The liability is established under the Companies Act of 2013.
    - Is free from taxation out of the box till 2 crores of turnover.

FAQs About OPC registration

Who can apply for One Person Company (OPC) Registration ?
Only a natural person is eligible to act as a member and nominee of an OPC company. Both Residents of India and NRI can now form a One Person Company in India.
What is OPC ?
OPC is a combination of a sole proprietor business and a private company. It is a separate legal entity formed by a single person as a member.
How to register OPC company?
A person can do OPC registration through SPICE + with the online procedure in the MCA. It is a complete online simplified process.
Whether clause of compulsory rotation of auditors is applicable on OPC?
Provision for compulsory rotation of auditor is not applicable to OPC. Those provisions apply to listed companies and companies notified by the Government.
What are benefits of choosing OPC registration?
A single person can also run a one-person company. Decision-making is very simple. Compliances are also fewer as compared to private limited companies.
Who are not Eligible to be a member of One Person Company?
Minors i.e people under the age of 18 are not valid to be a member or a shareholder or even a nominee. Cannot be a Foreign Citizen. Non Resident. Person incapacitated to contracts.
What are the guidelines for selecting a name of a company?
Selecting a company name is a difficult process under MCA. The name of any company is subject to various guidelines under the Act. The name should be unique and is not taken before.
What are unique features of One Person Company (OPC)?
Only one person can be a shareholder in the company. There must be a nominee present for the incorporating person. Quick decisions could run the business without hassles.
How to convert an OPC into a private limited company?
An application to the Registrar of Companies for converting an OPC by form INC-6. There is no restriction for such conversion.

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