One Person Company (OPC) Registration in Professional fees of Rs. 1,999 Only
Get your Registration done in 10-15 Days
Best for Single Person want to start Business
Improve Credibility and Trust among the Customers.
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About One Person Company(OPC)
An OPC modern concept form of business in India proposed by the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture should not be made to do it through an association of persons and allowing them to create a single person economic entity in the form of ‘One Person Company’.
It is a step forward to facilitate more business friendly corporate regulations in India. The matter was first recommended by the expert committee of Dr. JJ Irani in 2005. it was also suggested that such an entity may be provided with a simpler regime through exemptions so that the single entrepreneur is not stuck in only complying with various rules and regulation and waste his time, energy and resources on procedural matters.
An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. Thus, it does away with the hassles of finding the right kind of co-partner/s for starting a business as registered entity. The OPC is fit for small businesses where the turnover is not likely to cross Rs. 2 Crores
Salient Features of One Person Company
✓ OPC has only one person as a member/shareholder and can have more than 1 directors , the sole shareholder can himself be the sole Director
✓ OPC can be registered only as a Private company.
✓ The person forming the OPC has to nominate a Nominee.
✓ Not affected by the death of a member or shift in ownership.
✓ Restricts the liabilities of its members
✓ The words “OPC” should be mentioned, wherever the name is affixed, used or engraved.
Benefits of forming an One Person company
✓ Compliance burden: OPCs have been provided with a number of exemptions and therefore have lesser compliance related burden.
✓ Legal Status and Social Recognition for Your Business: One Person Company is a Private Limited Structure; this is the most popular business structure in the world. Gives suppliers and customers a sense of confidence in business. Large organizations prefer to deal with private limited companies instead of proprietorship firms. Pvt. Ltd. business structure enjoys corporate status in society
✓ Complete Control of The Company with the Single Owner: This leads to fast decision making and execution. Yet he/she can appoint as many as 15 directors in the OPC for administrative functions, without giving any share to them.
✓ Easy to Get Loan from Banks: Banking and financial institutions prefer to lend money to the company rather than proprietary firms. In most of the situations Banks insist the entrepreneurs to convert their firm into a Private Limited company before sanctioning funds. So it is better to register your startup as a One Person private limited rather than proprietary firm.
Procedure for OPC Registration
Step 1: Complete the Form send by us and fill the details and send to us
Step 2: We will apply digital signature of the directors and it will take 1-2 days.
Step 3: We will File the Names submitted by you. Approval normally takes 3-4 Days.
Step 4: Once Name Approved we will file documents/Forms to ROC for Incorporation.
Step 5: ROC verify the Forms and Issue Registration Certificate.
Minimum Requirement for OPC Registration
Minimum 1 Shareholder
Minimum and Maximum 1 Shareholder. Shareholder can be director
Minimum 1 Director
1 Director must be Resident Indian.
1 Nominee Person
One Nominee required. Nominee can be any person including relative.
Minimum Rs. 1 Lac Share Capital
Paid up Capital can be Zero for Small Companies.
Address of Registered office
Office can be Residential or commercial and Rented or Self owned.
Documents Required for OPC Company Registration
PAN Card
Copy of PAN Card of Directors and Nominee.
Photograph
Passport Size color photograph of all directors and nominee
Identity Proof
Anyone: Aadhar, Driving license, Voter ID and Passport of directors,Nominee
Office Proof
If Rented Property Rent Agreement along with NOC by owner.
Address Proof
Anyone : Bank Passbook, Mobile Bill, Water Bill or Gas Bill of all directors
Utility Bill of office
Anyone : Electricity Bill, Telephone Bill, Water Bill or Gas Bill.
Frequently Asked Question(FAQ)
Is it necessary to write the words “OPC” after the name of any such company?
Yes. Second Proviso to Sec 12(3) provides that the words ‘‘One Person Company’’ shall be mentioned in brackets below the name of such company, wherever its name is printed, affixed or engraved.
Who can become a nominee of a OPC?
As per Rule 3(1) of the Companies (Incorporation) Rules 2014, only a natural person who is an Indian Citizen and resident in India shall be a nominee for the sole member of a OPC.
Can the member of the OPC change the nominee?
As per the third proviso to section 3(1) of the Companies Act 2013, the member of the OPC may at any time change the name of the nominee by giving notice.
Can OPC engage in all business activities?
OPC needs to be formed for any lawful purpose. Such companies cannot engage in “Non Banking Financial Investment” activities including “investment” in securities of anybody corporate (as per Rule 3(6) of the Companies (Incorporation) Rules 2014).
· Identity Proof and Address Proof of All Directors.
· Address Proof of the proposed Registered Office of the company.
How many Directors can OPC appoint?
OPC can have one or more Directors on its board. No special mention has been made for the number of directors. As per the provisions of Sec 149 an OPC can have a maximum of 15 directors. It can, however appoint more than 15 directors after passing a special resolution.
Is there is any requirement to be Physically present for the registration process?
The whole process is online, you are not required to go anywhere just by filling the form and sending your documents, the process will be done.
Can a salaried working person becomes a member/director in OPC?
Yes, you as a salaried person can become a member/director in OPC. You need to check your employment agreement if that allows for such provisions.
How is the OPC Company different from Private Limited company?
Only Indian Citizen is eligible for incorporation of OPC. One Nominee is required for OPC. There is no requirement of AGM and Board meeting is only one director.It Cannot be converted before 2 years in to Private Limited
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