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    One Person Company Registration

    One Person Company is a corporatisation of sole proprietorship firms, and incorporated with only one person as a member, where legal and financial liability is limited to the company. In an OPC, a single promoter gains full authority over the company and also restricts his/her liability up to the amount of contributions he/she made to the enterprise. A natural person who is an Indian citizen whether resident in India or otherwise shall be eligible to incorporate a One Person Company and appoint a nominee for the One Person Company.

    • Separate Legal Entity
    • Limited Liability
    • Single director and shareholder
    • Full control/ownership
    • Easy Availability of Funds
    • Less Compliance
    • Minimum Incorporation Requirements



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    How it works?


    1.

    1.

    Learn about the service and get an all-inclusive price

    2.

    2.

    Pay and submit documents online

    3.

    3.

    Our expert will do requisite filings and get certificate

    Overview of One Person Company Registration


    One Person Company is a revolutionary concept and is a refinement of the structure of a sole proprietorship firm. Incorporation of OPCs encourages corporatization of micro businesses and entrepreneurships. Prior to the Companies Act, 2013 coming into effect, at least two shareholders were required to start a company. But, now the concept of One Person Company would provide tremendous opportunities for small businessmen and traders to do business as an enterprise and give them an opportunity to start their own ventures with a formal
    business structure.

    Section 3(1)(c) lays down that one person company is a kind of private company and incorporated for any lawful purposes by a natural person. One person company shall have a minimum of one director. Therefore, a One Person Company will be registered as a private company with one member and one director. By virtue of section 3(2) of the Act, an OPC may be formed either as a company limited by shares or a company limited by guarantee; or an unlimited liability company.

    Welcoming Moves in Union Budget 2021-22 for OPCs

    1. Non-resident Indian can setup OPC in India w.e.f April 1, 2021 to promote entrepreneurship and boost economy of the country;
    2. Removal of provision of mandatory conversion of OPC into Pvt company to allow OPC to grow without restrictions specifically those going for funding;
    3. OPC shall be able to convert into any other form (other than section 8 company) by applying in a single prescribed e-form and by altering its MOA /AOA

    Advantages of One Person Company Registration


    • Separate Legal Entity

      OPC has a separate legal entity that distinguishes between the promoter and the company and is capable of doing everything that an entrepreneur would do.

    • Limited Liability

      The promoter’s liability is limited in an OPC, in the event of a default or legal issues, to the extent of the value of shares owned.

    • Easy Availability of Funds

      OPC is a form of Private Company which can raise funds through venture capital, financial institutions, angel investors, etc. which Proprietorship will not be able to.

    • Less Compliance

      The Companies Act, 2013, provides certain privileges to the OPC pertaining to compliances, such as, an OPC need not prepare the cash flow statement. Further, the company secretary need not sign the books of accounts and annual returns and be signed only by the director. Minutes can be passed by the member easily by entering them into the minute book and signed by the sole member

    • Minimum Incorporation Requirements

      One Shareholder Minimum One Director The director and shareholder can be the same person Minimum One Nominee

    Things to Know


    Unique Name

    The proposed name selected by you should be unique and should not resemblethe name of an existing Company or Limited Liability Partnership. The words ‘‘One Person Company’’ shall be mentioned in brackets below the name of such company, wherever its name is printed, affixed or engraved.

    Share Capital

    Share capital of a company is divided into four parts:

    1. Authorized Share Capital: It means such capital as is authorized by the Memorandum of a company to be the maximum amount of share capital that can be raised by a company.
    2. Issued Share Capital: It means such capital as the company issues from time to time for subscription
    3. Subscribed Share Capital: It means such part of the capital which is for the time being subscribed by the members of a company
    4. Paid-up Share Capital: It means such aggregate amount of money credited as paid-up as is equivalent to the amount received as paid up in respect of shares issued and also includes any amount credited as paid-up in respect of shares of the company, but does not include any other amount received in respect of such shares, by whatever name called. There is no minimum paid-up share capital prescribed for One Person Company company. However, it is suggestible that the subscribers to the memorandum of association shall bring in some capital for carrying on the business operations of the company.

     

    Directors

    Director is a person appointed to the Board of a company. Board of Directors of a company are entitled to exercise all such powers and to do all such acts and things as the company is authorized to exercise and do except those which are specifically required to be exercised by a company in general meeting. One person company can appoint one director as the minimum number of directors in its Board.

    Member and Nominee

    Only a natural person who is an Indian citizen whether resident in India or otherwise:-
    (a) shall be eligible to incorporate a One Person Company;
    (b) shall be a nominee for the sole member of a One Person Company.

    A natural person can be a member of only one “One Person Company”, at any point of time and the said person shall not be a nominee of more than one “One Person Company”. The subscriber to the memorandum of a One Person Company shall nominate a person, after
    obtaining prior written consent of such person, who shall, in the event of the subscriber’s death or his incapacity to contract, become the member of that One Person Company.

    No minor shall become member or nominee of the One Person Company or can hold share with beneficial interest

    Registered Office

    It is mandatory for every company to have a registered office capable of receiving and acknowledging all communications and notices as may be addressed to it. Registered office of the company must be situated in India.

    Procedure and Timelines for One Person Company Registration


    Step 1.

    Step 1.

    1-2 Days

    Step 2.

    Step 2.

    1-2 Days

    Step 3.

    Step 3.

    2-3 Days

    Step 4.

    Step 4.

    1-2 Days

    Document Required for One Person Company Registration


      For Directors

    • Copy of PAN (in case of resident); OR PAN Declaration* (in case of Non Resident Indians)
    • Copy of Passport (in case of Non-Resident Indians);
    • Declaration in Form INC-9 for First Directors* (in case of Non-Resident Indians);
    • Copy of Proof of Identity (Voters ID/Driving License/Passport);
    • Copy of Residential Proof (Bank Statement/Telephone Bill/ Mobile Bill/ Gas Bill not older than 2 months);
    • Consent to act as Directors*;
    • Disclosure of interest in other entities*;
    • Passport Size Photograph
    • Specimen Signature

      For Company

    • Copy of PAN (in case of resident); OR PAN Declaration* (in case of Non Resident Indians);
    • Copy of Passport (in case of Non-Resident Indians);
    • Copy of Proof of Identity (Voter's ID/Driving License/Passport);
    • Copy of Residential Proof (Bank Statement/Telephone Bill/ Mobile Bill/Gas Bill not older than 2 months);
    • Consent to act as Nominee*
    • Passport Size Photograph
    • Specimen Signature
    • Declaration in Form INC-9 for First Subscribers* (in case of Non-Resident Indians);

      For Members/Nominee

    • Copy of Sale deed/ Property Deed (in case of owned property) or Lease Deed (in case of rented premises);
    • Copy of Telephone or Mobile/Electricity or Gas Bill of registered office (Any one, not older than 2 months);
    • No-objection Certificate from the owner of the premises for its use as registered office*;
    • Memorandum and Articles of Association;

    Note 1: *Draft will be provided by our team

    Note 2: In case of NRI Directors/subscribers, all the aforesaid documents should be notarized and apostilled or consularized. In case documents are not in english, translated copy in english should be notarized and apostiled or consularized. Please read the attestation requirements of documents below in FAQs

    Why Companies Next


    At Companies Next, we have a dedicated team of professionals for providing quality services with accuracy and within given timelines. We provide a complete transparent and online platform for registration of One Person Company.

    Our One Person Company Registration include:

    • DSC of Subscriber and Director
    • DIN of Directors
    • Company Registration fees and stamp duty
    • Certificate of Incorporation
    • Company’s PAN and TAN
    • Comapny's EPFO and ESIC Registration
    • Professional Tax Registration (Maharashtra)
    • Opening of Bank Account
    • Drafting of Memorandum and Articles of Association
    • Drafting of requisite declaration(s), consent letters, etc

    FAQ's


    No, As per Companies Act, 2013, only natural person who is an Indian citizen whether resident in India or otherwise shall be eligible register a One Person Company.

    A person caanot incorporate more than one (1) One Person Company.

    A subscriber to Memorandum of a One Person Company is required to nominate a person who shall become the member of the OPC in case on subscriber's death or his incapacity to contract. The person shall be appointed subject to his prior written consent to become a nominee.

    Duly Adopdet Financial Statements of One Person Company needs to be filed with the Registrar of Companies (ROC), within 180 days of the closure of  financial year.

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