One Person Company
Starting At ₹ 5999/- (Prof. Fee) + Govt. Fees
It just Takes (10 to 15 business days, subject to Government processing time.) days
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What is One Person Company Incorporation Overview
In 2013, the Companies Act, 2013 introduced the concept of a ‘One Person Company (OPC)’. This created an entirely new set of opportunities for budding entrepreneurs who can start a business by creating their own single-person corporate entity.
In an OPC, a single promoter gains complete control of the company, limiting his or her liability for contributions to the enterprise. However, a director nominee is present but has no authority until the real director is unable to continue.
According to Section 2 (62) of the Company’s Act 2013, a company can be formed with only one director and one member. A One Person Company Registration in India is a type of entity with fewer compliance requirements than any other type of company. An OPC is simple to manage because it is run by a single person. If you are an entrepreneur looking for a one-of-a-kind success, you can register as an OPC in India.
Documents Required For One Person Company Incorporation
For Director/Shareholders:
- Self-attested Pan card
- Self-attested Voter id or Driving license or Passport
- Self-attested Bank statement or electricity/telephone/mobile bill
- Recent passport-size photo
For Nomiee:
- Self-attested Pan card
- Self-attested Voter id or Driving license or Passport
- Self-attested Bank statement or electricity/telephone/mobile bill
- Recent passport-size photo
For the Registered address of the company:
If the premise is rented/leased
- Copy of the Electricity bill of the owner
- Rent or lease agreement
- NOC from the owner of the property
If the premise is Owned
- Copy of the Electricity bill of the owner
- NOC from the owner of the property
Company Registration Process for OPC Company Companies
Step 1:
Using the RUN application to reserve the OPC Company’s name through Spice PART A form accessible via the MCA portal.
Step 2:
Choosing a memorable name for the OPC Company. Look up the name of the OPC Company.
Step 3:
It will take MCA 3-4 days to approve or reject the name approval request.
Step 4:
If the name is approved, the MCA will send us a name permission letter, and we must register the firm within 20 days.
Step 5:
To extend the grace period before the 20-day grace period expires, an additional fee must be paid.
Step 6:
Obtaining the DSC and DIN of the company’s directors will incur additional costs.
Step 7:
Using SPICE PART B, draught the company’s MOA and AOA electronically.
Step 8:
Submitting an online application for the formation of an OPC Company.
Step 9:
The application will be evaluated by the Ministry of Corporate Affairs.
Step 10:
If a company is formed, the MCA will issue a Certificate of Incorporation, PAN, and TAN.
Benefits Of One Person Company Incorporation
- Limited Liability Protection to Director’s Personal Assets
- Better image and credibility in the Market
- Easy to raise funds and loans
- Helps for Testing of Business Model and Enables Funding
- Complete Control of the Company with a Single Owner
- Easy to Sell OPC
- Reduce compliance as compared to other corporate forms of operation
Checklist /Minimum requirement for One Person Company Incorporation
- Minimum 1 Shareholder
- Minimum 1 Directors
- Minimum 1 Nominee
- The directors and shareholders can be the same person
- Only Indian residents can be Shareholder & Nominee
- Minimum 1 Director must be an Indian Resident
- Minimum Authorised Share Capital to be Rs. 1 Lac
- DIN (Director Identification Number) for all Directors
- DSC (Digital Signature Certificate) for 1 Promoters & 1 witness