• +91- 9643640714

  • 0120-4134791

  • info@unilexconsultants.com

WHAT IS ONE PERSON COMPANY (OPC) REGISTRATION

One Person Company is forward thinking concept where promotes the incorporation of micro-businesses and persons with entrepreneurial dreams but has no time, resources or means to get more partners to execute the business plan. It can be considered as the combo of Sole proprietorship business model and the normal company legal entity business model, where the OPC company would enjoy the best of two worlds. The system is based on the companies Act 2013, where it was made possible for a single person to act as a company without the complexity of having partners. Such encouraging more people to come forward to start business. In One Person Company the person has Limited Liability for the shares he hold in the company he/she incorporated while operating an incorporation given in this case there is only sole shareholder.

The primary reason for choosing One person Company registration is that the given person has a business idea that needs to be represented in a corporate format and the idea solely can carried out by the same person with limited resources they have.

By registering as an OPC the company can enjoy the benefits in banking point of via just alike Private limited companies, One Person Companies are eligible for Banking loans, credits and Limited liability of the share.

At Unilex Consultants we provide you a hassle free registration process which would be dealt by our professionals within a time frame of 10 days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Advantages of Going with One Person Company


Limited Liability

Limited Liability plays an major role in the decision as the partners are limited to the actions they make for the shares.

Continuity of Existence

The company would exist in succession fashion as the governmental body treats it as a separate entity in terms of law.

Fundraising

For a One Person Company it can represent itself in seeding rounds to get investment from the Angel Investors and Venture Capital firms just like how Private limited Company.

Less Burden

A One Person company scores better in terms of credibility as it falls under the central government directly unlike other mutual profit organizations.

Less Burden

As there are less legal Complexity involved in the One Person Company when compared to other registration methods, the person can concentrate more on the niche they belong to improve.

Quicker Actions

As you there is only one person to take actions and make the calls to what to implement and what not to, the turnaround time is much faster and the execution can be done soon too.

Documentation for One Person Company Registration


Passport size Photograph

Copy of PAN Card

Copy of Aadhar Card

Address Proof (Bank Statement/Mobile/Telephone Bill)

Copy of Electricity Bil

Sale Deed (if owned)

Copy of rent agreement
(if rented)

NOC

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OR


PACKAGES


Basic

7999/-
Inclusive all taxes

1 DIN
1 DSC
PAN & TAN
MOA/AOA
Name Approval
Share Certificate
Certificate of Incorporation

Premium

10999/-
Inclusive all taxes

1 DIN
1 DSC
PAN & TAN
MOA/AOA
Name Approval
Share Certificate
GST Registration
Trademark Filing
GST return filing for 1 year
Certificate of Incorporation
Udyog Aadhaar Registration (MSME)

Standard

8999/-
Inclusive all taxes

1 DIN
1 DSC
PAN & TAN
MOA/AOA
Name Approval
Share Certificate
GST Registration
Certificate of Incorporation

Note:

  • The above price may vary due to stamp duty in various states
  • Trademark filing excludes government fees
  • GST return filing price may vary depending on number of invoices

Process for registering a One Person Company

1

Getting sorted with Digital signatures

1-2 working days

Digital Signature Certificate(DSC) is required of the proposed Directors and Subscribers of the Company and it can be obtained within 1-2 working days.
2

Applying for the
name

2-3 working days

After obtaining the DSC and DIN of the proposed subscribers and Directors, our team will get in touch for a unique name and along with that collect all the requisite documents in scan for the incorporation of the company through the SPICE i.e INC 32
3

Filling for the incorporation

3-5 working days

After the name approval and review of all the documents required, we will submit incorporation Forms to MCA and once it gets approved Certificate shall be issued by the ministry and we will send the MOA & AOA, DIN via mail and DSC through courier

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.

Mandatory Compliances of a One Person Company (OPC) Every Year

Minimum 2 board meetings as prescribed under the Act

Statutory audit by a chartered accountant


Appointment of Auditor.


Filing of ITR.

Annual filings to registrar of companies.

Maintaining Minutes and statutory registers.

Here is the break down for helping you to decide your form of business

S.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 up 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

FAQ’s About One Person Company

  • Who can apply for OPC Registration ?

    Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC. The term “resident in India” means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one financial year.
  • Is there a way to extend the shareholder count ?

    No it is limited to only one person.
  • Is taxation Mandatory?

    No it is not until the company cross the 2 crore limit of turn over then it has to be converted to Private Limited.
  • Whether clause of compulsory rotation of auditors is applicable on OPC?

    Provision for compulsory rotation of auditor in section 139(2) are not applicable to OPC as they apply to listed companies and companies belong to such class or classes as may be prescribed (unless central govt. applies it to OPCs through notification).
  • What are benefits of choosing OPC registration?

    • They are a single entity model where only one person can be the sole shareholder.
    • Represents the best of both worlds Sole proprietorship and Private limited company
    • It offers limited liability of the shares for the person who incorporated the company.
    • As there is only one person involved in the actual incorporation of the company, the person must be an Indian Residing Citizen in order to establish his or her business as an One Person Company.
    • There is no rule where the minimum capital are defined.
    • Audit it not mandatory in an OPC registered Firm.
  • 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?

    • The actual name and the object of the company can differ and there are no rules that specify that they should be targeted for the same consonance.
    • The Promoter have the option of using their initials as the name of the company which also could be abbreviated.
    • The company name can be standard and is not required to change with the change in business.
    • No NOC is required if any person name is used
  • What are unique features of One Person Company (OPC)?

    • OPC can representative and registered in the ways of Private Limited Company.
    • Only one person can be the shareholder in the company.
    • One Person Company (OPC) may be either a company limited by share or a company limited by guarantee or an unlimited company
    • The company name would be follower by OPC tag at the end.
    • There must be a nominee present for the incorporating person.
    • The person must be a citizen of India
  • What are benefits of choosing OPC registration?

    • They are a single entity model where only one person can be the sole shareholder.
    • Represents the best of both worlds Sole proprietorship and Private limited company.
    • It offers limited liability of the shares for the person who incorporated the company.
    • As there is only one person involved in the actual incorporation of the company, the person must be an Indian Residing Citizen in order to establish his or her business as an One Person Company.
    • When the Yearly Turn of over reaches 2 Crore then the company must be converted to an Private Limited
    • There is no rule where the minimum capital are defined.
    • Audit it not mandatory in an OPC registered Firm.
    • The company has the combined features of Sole proprietorship and LLP in terms of establishment and Liability.

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