One Person Company

Starting from INR 12,499

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One Person Company

One Person Company is a hybrid of Sole-Proprietor and Company form of business, and has been provided with concessional/relaxed requirements under the Act.

The revolutionary new concept of ‘One Person Company’ (OPC) has been introduced by the Companies Act, 2013. OPC provides a whole new bucket of opportunities for entrepreneurs who want to start their own ventures with an organized business structure. OPC will give the young businessman all benefits of a private limited company i.e. they have a separate legal entity which categorically means they will have access to credits, bank loans, investments, limited liability, and legal protection for business, access to market. One Person Company must be converted into a Private Limited Company if it crosses  either of paid up share capital of more than 50 Lakhs or an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year like all types of Companies, forms needs to be filed at MCA within 6 months on breaching any one of above limit. Therefore, it is important for the Entrepreneur to carefully consider the features of a One Person Company prior to incorporation.

Features

One Shareholder- Only a natural person, who is an Indian citizen and resident in India shall be eligible to incorporate a One Person Company. Explanation: The term ``Resident in India`` means a person who has stayed in India for a period of not less than 182 days during the immediately preceding one calendar year.

Nominee for the Shareholder: The Shareholder shall nominate another person who shall become the shareholders in case of death/incapacity of the original shareholder. Such nominee shall give his/her consent and such consent for being appointed as the Nominee for the sole Shareholder. Only a natural person, who is an Indian citizen and resident in India shall be a nominee for the sole member of a One Person Company.

Compliances - A One Person Company has to file annual returns etc. just like a normal company and would also need to get its accounts audited in the same manner.

Borrowing Capacity- A one person company cannot issue equity security, as it can only be owned by one person at all times so bringing investment is difficult.

Control- As an individual is having all shared so this helps in fast decision making and execution. Also he/she can appoint up to 15 directors in the OPC for administrative functions without diluting shares.

Limited Liability- The liability of the shareholder is limited up to unpaid subscription money in his name as OPC is a separate legal entity.

  • Silver

  • 12,499
    • TAN
    • PAN
    • Name Approval
    • Incorporation
    • Share Certificate
  • Gold

  • 13,499
    • TAN
    • PAN
    • DSC
    • DIN
    • LLP Deed Drafting
    • Name Approval
    • Incorporation
  • Platinum

  • 24,499
    • TAN
    • PAN
    • 2 DSC
    • DIN
    • LLP Deed Drafting
    • Name Approval
    • Incorporation
Process One

ComplyPartner Team would understand business

Process Two

Day 1- Application for DIN and DSC, it will take 1-2 days

Process Three

Day 3- Application For Name Approval, it would take 3-5 Days

Process Six

Bank Account can be opened and business can be started

Process Five

Day 16- OPC Registration Certificate Issued would be issued

Process Four

Day 8- Application for registration, it would take 7-9 Days

Documents Required for One Person Company Registration

Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)

Scanned copy of Voter's ID/Passport/Driver's License

Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill

Scanned passport-sized photograph

Specimen signature (blank document with signature partners only)

Documents Required For the Registered Address

Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill

Scanned copy of Notarized Rental Agreement in English

Scanned copy of No-objection Certificate from property owner

Scanned copy of Sale Deed/Property Deed in English (in case of owned property)

Note: Your registered office need not be a commercial space; it can be your residence, too.