One person Company

An OPC is a sort of corporate structure that enables a one person to own and manage a corporation. It has a different legal personality from its owner and is registered as a separate legal entity.

Solo Entrepreneurship Reinvented: The Power of the One Person Company (OPC)

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One Person Company Registration

You must first be familiar with the definition of a one-person company in order to register one in India. One Person Companies, often known as OPCs, are a type of Private Limited Company created in accordance with the Companies Act of 2013. It is held by a single shareholder who has all of the OPC's shares, giving him or her sole access to all of the company's earnings. However, the sole shareholder's liabilities are only as great as the unpaid equity capital he subscribed to in the OPC. The fact that an OPC has limited liability actually distinguishes it from other sole proprietorships and other single-owner companies. Therefore, a One Person Company will surely be your best option if you are a business's sole owner and are not willing to share ownership with any other organization.

Benefits of One Person Company Registration

A one person firm should be your obvious pick among all other kinds of single-owner businesses! Do you ever wonder why? For more information on the advantages of registering your startup as a one-person company in India, please see the table below.

Unique Ownership

The only shareholder has the right to keep all of the company's profits.

Limited Liability

The sole owner's obligation is limited to his capital subscription.

Simple credit options

Lending to properly registered firms is preferred by banks and other financial institutions.

Simple to Include

The incorporation process is entirely online and very straightforward.

Smooth Leadership

In an OPC, the lone shareholder has complete authority to make decisions.

Eligibility criteria for One Person Company

The following requirements must be met before registering as a One Person Company: -

  • A natural person who resides in India may have formed OPC in the year before.
  • A single member can create an OPC.
  • The name must be original and distinct from any other brand or company already in use.
  • A person may not incorporate more than one OPC or serve as more than one OPC's nominee.

Process of Registered One Person Company

Obtaining DSC

  • The applicant must get a Digital Signature Certificate (DSC) from the Certifying Authority in order to register.
  • To get DIN

  • The intended director's Director Identification Number (DIN) must be obtained . Along with the Director's information, the DIN is entered into the SPICe+ Form. .
  • Name approval

  • XYZ (OPC) Private Limited will be the formal name of the company. The RUN service will be used to check the availability of names, and SPICe+ (INC 32) can be used to apply for one name for the OPC. return.
  • One-Man Company Incorporation

  • Form SPICe+ for OPC incorporation must be filed within twenty days of the date RUN, or the approval of the name, was approved. The form SPICe+ and other necessary documentation must be attached before being uploaded to the MCA portal. At incorporation, the PAN and TAN will be generated automatically.
  • Obtaining a Certificate of Incorporation

  • If the information and supporting documentation are suitable, the Registrar of Companies will issue a COI, or Certificate of Incorporation.

Documents required for One Person Company Registration

The most important part of one person company registration is the documentation because the correctness of their files with the ROC determines whether or not your entire application will be approved or rejected. The documents of the promoters and the documentation of the registered office of the OPC fall under the two kinds of documents needed for one person company registration.

  • Colour passport size photo
  • PAN Card or Aadhar Card
  • ID Proof : ( passport , Voter ID , Driving Licence )
  • Proof of Premises: (Latest Utility bill of that address such as electricity bill, water bill or Property Ownership Papers)
  • NOC: No Objection Certificate from the owner.
  • At least one Resident Director
  • Maximum 15 Directors
  • A unique and valid name for OPC

Documents Required for Start Company

  • PAN Card
  • Aadhar Card
  • Bank account details
  • Bank statements/ passbook

Frequently Asked Questions

No, the procedure of forming a company in India is entirely online. You do not need to be physically there at all because you can complete all documents electronically. All the necessary forms and documentation must be digitised and sent to us.

Yes, regardless of its revenue, a private limited firm is required to employ an auditor. In fact, within 30 days of formation, an auditor must be engaged. Given that penalties for non-compliance can reach millions of rupees and possibly result in the blacklisting of directors, compliance is crucial for a private limited business.

The Ministry of Corporate Affairs makes available the company's registration certificate online.
 

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