A One Person Company (OPC) is a type of business structure that was introduced in India under the Companies Act, 2013. As the name suggests, an OPC is a company that has only one person as its member or shareholder, who can act as both the director and shareholder of the company.
25689 People purchased
One Person Company
A One Person Company (OPC) is a type of business structure that was introduced in India under the Companies Act, 2013. As the name suggests, an OPC is a company that has only one person as its member or shareholder, who can act as both the director and shareholder of the company.
25689 People purchased
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What is a One Person Company?
Registering a company is the first step to start a business in India. The One Person Company (OPC) is a new form of company formation, introduced in the Companies Act of 2013.
In OPC, a single promoter gains full authority over the company, he will be the sole shareholder and director (however, a director nominee is present, but has zero power until the real director proves incapable of executing the contract). An OPC is a hybrid structure, it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder. OPC will give the solo entrepreneur all benefits of a private limited company which means he will have access to credit, bank loans, limited liability, legal protection for business, access to market etc.
However, one needs to note that under an OPC, there can be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC company has a consecutive 3-year average turnover of Rs. 2 crores or more or has acquired a paid-up fund of Rs. 50 lakh and over, then it must be converted to a private limited company or public limited company within six months.
Benefits of Registering a One Person Company
Registering a Private Limited Company offers many benefits.
- Separate Legal Existence
- Limited Liability of Shareholders
- Continuous Existence
- No requirement to hold Board Meeting, Annual General or Extraordinary General Meeting
- Less Compliance compared to the requirements of a Pvt. Limited Company
- Easy Fund Raising
- Improves Trust and increases credibility among vendors and lending institutions
Requirements for Registering a One Person Company
Registering a One Person Company will require the following.
- Minimum 1 Shareholder*
- Minimum 1 Director*
- Minimum 1 Nominee
- No minimum capital is required. However, A OPC Company should have minimum authorized share capital of at least Rs. 1 lakh
- The name of the Company should be unique and should not be similar to the any existing company name or trademark.
* Director and Shareholder can be the same person.
Detailed Registration Process
The Ministry of Corporate Affairs governs the company registration process. The below registration process is basis the governing laws of MCA:
- Step 1: Application for DSC (Digital Signature Certificate)
- Step 2: Apply for DIN (Director Identification Number)
- Step 3: Application filing for Nameavailability
- Step 4: Drafting and Filing of eMoa and eAoA
- Step 5: Apply for PAN and TAN of the company
- Step 6: Certificate of Incorporation issued by RoCalong with PAN and TAN
- Step 7: Open a Current Bank account on the company name
Documents required for One Person Company Registration
In India, One PersonCompany registration cannot be done without proper identity and address proof. Prescribed documents will be needed for all the directors and the shareholders for the company incorporation. Listed below are the documents that are accepted by MCA for private Limited Company registration
Identity & Address Proof:
- Copy of Pan Card of Director
- Voter Id card or Driving License or Passport
- Any one of: Bank Statementor Electricity Bill or Mobile Bill (not older than 2 months)
- Passport Size Photograph of Directors
Proof of Registered Office:
- Conveyance/ Lease deed/Rent Agreement etc. along with rent receipts (any one)
- Copy of the utility bills (Telephone/Gas/Electricity bill) (not older than two months) (any one)
- NOC from Landlord
Deliverables
Below listed are the deliverables if you get your One Person Company registered from LegalKart:
- DSC & DIN for 1 Director
- Company Name Approval
- MOA + AOA
- Incorporation Certificate
- Company PAN Card
- Company TAN Number
- Bank Account Opening Document Support
Company Formation
One Person Company
₹12999
(26% Off) ₹4500 Save ₹ 17499₹3499
₹4500 Save ₹7999₹3999
₹4000 Save ₹7999₹1999
₹2500 Save ₹4999Gross Total
₹12999
Deliverables *
- DSC & DIN for 1 Director
- Company Name Approval
- MOA + AOA
- Incorporation Certificate
- Company TAN Number
- Bank Account Opening Document Support*( if asked by the user).
We Accept
Frequently Asked Question
Do I need to be physically present during this process?
No, OPC Registration is a fully online process. As all forms are filed electronically so you don’t need to physically travel. You would need to send us scanned copies of all the required documents.
Can foreign nationals incorporate a company under OPC?
No, foreign nationals cannot incorporate a company under OPC.Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC
What is a Digital Signature Certificate? Who shall procure it?
Digital Signature Certificate is provided in the form of a token issued by Certified Authorities. Any form filed for online company registration in India shall be submitted after affixing the DSC of an Applicant. Also, the directors will require DSC for DIN application and the subscribers to MOA shall possess DSC for submitting e-forms for incorporation.
Is it necessary to obtain DSC for all the directors of a company?
As per Companies Act, it is mandatory for all the directors of the company to obtain DSC to verify the authenticity of all the documents filled.
Whether a corporate body can become member or nominee in an OPC?
No, only an individual can obtain membership or become the nominee in OPC. If a corporate body wants 100% stake of any company, it can register a wholly owned subsidiary.
Can one register a One Person company on their home address?
Yes, one can register a private limited company on their home addressin India.You will require to submit a copy of the utility bill the same address alongwithwith the NOC from the landlord for Private Limited Company Registration.
When is it required to convert an OPC into Private Limited Company?
It is required to convert an OPC into a Private or Public Company when the paid-up capital of the OPC exceeds 50 lakh Rupees, or the Average Annual Turnover during the relevant period exceeds 2 Crore Rupees. The mandatory conversion will take effect irrespective of the period of existence of OPC.
Can I convert OPC into Private Limited Company after registration of One Person Company?
Yes, it is possible to convert an OPC (One Person Company) into a Private Limited Company after its registration. As per the Companies Act, 2013, an OPC can be converted into a Private Limited Company either voluntarily or mandatorily, based on certain conditions.
Voluntary Conversion: To voluntarily convert an OPC into a Private Limited Company, the OPC must have completed two years from the date of its incorporation and must have a minimum paid-up capital of Rs. 50 lakhs or higher. The OPC's sole member must pass a special resolution to convert the OPC into a Private Limited Company, and the company must file an application with the Registrar of Companies (ROC) to get its certificate of incorporation altered.
Mandatory Conversion: An OPC must be mandatorily converted into a Private Limited Company if its paid-up capital exceeds Rs. 50 lakhs, or its average annual turnover exceeds Rs. 2 crores, during the three immediately preceding financial years. The company must then file an application with the ROC for conversion.
Is it possible for OPC to trade shares?
No, it is not possible for an OPC (One Person Company) to trade shares. OPCs are incorporated as private limited companies with only one member, and the Companies Act, 2013, prohibits private companies from issuing shares to the public or listing their shares on stock exchanges.
OPCs can only issue equity shares to their sole member and cannot raise capital from the public through the sale of shares or securities. Additionally, an OPC cannot invite or accept deposits from anyone other than its sole member.
Does a OPC require renewal every year?
No, an OPC does not require renewal every year. An OPC continues its existence until it is closed down officially by its owners.
What our users have to say
Very convenient and helpful team. Good Job done.
Ranjan Chaudhry, Food Plaza, Jaipur
I was running my boutique at my home only; as the business grew and demand start pouring in; I decided to form my company. LegalKart advisor explained me all kind of incorporations and suggested me to go for OPC. Fast and professional delivery. No hassles; #1 choice for your Startup.
Ritika B, CEO, Ritika Arts, New Delhi
I am an artist and design jewellery; I decided to take my passion forward by taking it up professionally; since I was planning to do it alone and had no plans to raise any funds, I was sure about my OPC incorporation idea. I was helped by LegalKart expert in ideating the right structure. Very cordial and cooperative team. I highly recommend LegalKart.
Projjwal B, Designer, Bangalore
Our Clients
A One Person Company (OPC) is a type of business structure that was introduced in India under the Companies Act, 2013. As the name suggests, an OPC is a company that has only one person as its member or shareholder, who can act as both the director and shareholder of the company.
25689 People purchased
Company Formation
One Person Company
₹12999
(26% Off) ₹4500 Save ₹ 17499₹3499
₹4500 Save ₹7999₹3999
₹4000 Save ₹7999₹1999
₹2500 Save ₹4999Gross Total
₹12999
Deliverables *
- DSC & DIN for 1 Director
- Company Name Approval
- MOA + AOA
- Incorporation Certificate
- Company TAN Number
- Bank Account Opening Document Support*( if asked by the user).
+91-8448445049
