One Person Company

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A One Person Company (OPC) PVT. LTD. Registration is a business that is owned, managed and controlled by one person. It is one of the most prevalent forms of business in India, used by small businesses operating in the unorganized sectors. ONE PERSON COMPANY is very fast & easy to start and have very minimal regulatory compliance requirement for getting started. However, after the startup phase, ONE PERSON COMPANY offer the promoter a host of other benefits such as limited liability, separate legal entity, independent existence, transfer-ability, etc., which are desirable features for any business. Therefore, ONE PERSON COMPANY is suited for organized, small businesses that will have a unlimited existence.

The One Person Company (OPC) was recently introduced as a strong improvement over the sole proprietorship. It gives a single promoter full control over the company while limiting his/her liability to contributions to the business. This person will be the only director and shareholder (there is a nominee director, but with no power until the original director is incapable of entering into contract). So there's no chance of raising equity funding or offering employee stock options. Furthermore, if an OPC hits an average three-year turnover of over Rs. 2 crore or has a paid-up capital of over Rs. 50 lakh, it must be converted into a private limited company or public limited company within six months.

Minimum Requirements of One Person Company

  1. One Shareholder
  2. One Director
  3. One Nominee
  4. One Person

Features/Advantages of One Person Company Registration

There is no minimum capital required for OPC registration. However, the maximum Authorized capital of One Person Company shall not exceed Rs 50 lakhs at any point in time.
There is a limited liability related to One Person Company which means the liability on the Director is limited. The personal asset of the Director won’t be attached to the debt of the business and the property will be safe.
The compliances under OPC registration are very less as compared to any other company. Minimum paperwork is done.
The death or illness or incapacity of the director won’t affect the on-going process of the company as the nominee director will hold the rope to continue the business.
As an OPC is required to have its books audited annually, it has the greater credibility among the vendors and the lending institution.

Documents required for Company Registration

PAN for Indian Nationals
Passport, Driver License, Aadhar (And) bank statement or Electricity Bill The two document must be valid, recent and less than month old
Rental agreement or Sale deed (And) copy of Electricity Bill, Property Tax Receipt No Objection Letter from landlord for use of Premises as Registered Office
Signed Digital Signature Application Documents in Hard Copy Other incorporation Documents Signed and uploaded as soft copy

Process for Company Registration

  • Select a unique company name
  • Digital Signature Certificate (DSC) for director
  • Director Identification Number (DIN) for director
  • Online Name approval
  • Submission of Incorporation form (SPICe) along With MOA & AOA

FAQs on One Person Company

Only 1 person can form a company whereas minimum 2 people are required for forming a private limited company. OPC have a status of Company so it has feature of perpetual succession. Earlier there was no registration in India for proprietorship, this concept of OPC eliminate this issue.
Yes Nominee is mandatory required. Nominee can be your relative or friends etc. Minor cannot become nominee.
The Companies Act requires all companies formed in India to submit documents that declare the capital structure of the business, the business it is into and how it is run, owned and governed. These details are contained in the Memorandum of Association (MoA) and Articles of Association (AoA).
Yes, a company can change its registered office any time after the incorporation. The changed address can be situated within the same state or in a different state from the state in which it was originally registered.
First ensure that company name is not similar to any other Private limited, OPC, LLP or Public limited company. Also, do check If your first is not a registered trademark. Also, make sure the name is not too generic to be accepted by the ROC land also, try not to use abbreviations, adjectives. While choosing the name make sure that name should contain the objective of the business like if the objective is IT then word is Technology, techno soft, IT consultancy. You can check your company name from www.mca.gov.in.
Any person intending to become director in a company must apply for director identification number, issued by the Ministry of Corporate Affairs. Proof of identity and address is required to be submitted along with requisite fee while submitting the application for DIN. If the documents are in order, the DIN is approved within 3-4 days. The approved DIN is valid for life and the same DIN can be used by the director, even if he/she has directorship in more than one company.
Yes, a salaried person can become the director in private limited compan , but there should not any legal bondages with your employment agreement if it contains any restrictions on doing so.
No, Company Registration process is online. You don’t need visit office. All the documentation part can be done through courier/speed post. If you wish to do so and Visit our office you can come after taking an appointment with us.