One Person Company (OPC)

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Description

One person company provides the best of two words, complete freedom and status of separate legal entity. Best suited for small size businesses wherein paid-up capital is limited to Rs. 50 Lakhs and an average turnover immediately preceding three financial years should not exceed Rs. 2 crores.

The primary reason for choosing One person Company (OPC) registration is that the given person has a business idea that needs to be represented in a corporate format. The idea can solely be carried out by the same person with limited resources they have. OPC company can have more than one director, but the shareholder cannot be more than one, and also no person shall be allowed to incorporate more than 1 one-person company.

Benefits:

  1. Limited liability
  2. Continuity of existence
  3. Business credibility
  4. Ease in fundraising
  5. Less Compliance
  6. Quicker action

Others points

  1. A natural person who is a citizen and resident of India can only be a member and nominee of OPC.
  2. A person can’t be a member of more than one OPC.
  3. A minor can neither be a member or nominee nor can hold interest in OPC.

 

The application for the One person company registration form to include the prescribed documents:

  • Identity Proof – Aadhar & PAN Card
  • Address Proof – Latest Bank Statement
  • Passport size photos
  • Name of Firm to be registered
  • Email ID and Contact Detail of Proprietor

Proof of Business can be established by submitting the following documents:

    • A sale deed if a person owns the place;
    • A rental agreement copies if the office is on a rental basis with NOC from the owner;
    • A copy of the latest electricity bill or the tax bill receipt.

Q.1 What is the process to incorporate a One person company in India.

Ans.: Following are the steps to be followed to register a One Person Company

  1. Obtain Digital Signature
  2. Apply for name approval
  3. Submit documents with Registrar of companies for incorporation

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CHOOSE THE PERFECT PLAN

₹7499

Standard

  • Name Approval with 3 Options
  • Digital Signature
  • Director Identification Number (DIN)
  • MOA and AOA
  • Current Bank Account Open Assistance
  • PAN & TAN Application
  • ESI & PF Registration
  • Certificate of Incorporation
(Inclusive of Government fees  upto ₹ 1 Lakh Authorized Capital)

₹18999

Advanced

STANDARD PLUS
  • GST Registration
  • MSME Registration
  • IEC Registration
  • Billing Software (For Turnover <1.5 Crores)
  • One Year GST Return Filing

₹39999

Premium

  ADVANCE PLUS
  • Book Keeping Upto ₹1.5 Crores Turnover
  • Income Tax Filing for First Year
  • ROC Filing
  • Basic Website