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    One Person Company

    One Person Company (OPC) provides a platform to entrepreneurs and sole proprietors to start their business in a corporate framework. These companies avail various exemptions under the Companies Act 2013.

    • Separate legal entity
    • Perpetual Succession
    • Limited liability of member
    • Appointment of Nominee
    • Complete control over management



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    How it works?


    1.

    Learn about the service and get all-inclusive price

    2.

    Pay and submit documents online

    3.

    Our expert will do the requisite filings and get Certificate

    Overview


    With a view to encourage entrepreneurship, Companies Act 2013 introduced a new form of business structure termed as One Person Company (OPC), which provide platform to entrepreneurs and sole proprietors to start their business in a corporate framework. As the name suggests one person company is a company registered with only one person as a shareholder/director. OPC is form of proprietorship firm which possess distinct features of a private limited i.e. it is a separate legal entity having perpetual succession and limited liability of its member. These companies avail various exemptions under the Companies Act 2013 although the Act compels conversion of OPC into a private limited company  if capital of OPC exceeds 50 lakh rupees or average annual turnover exceeds 2 crore rupees during the period of immediately preceding three consecutive financial years.

    Features


    • Separate Legal Entity

      As a juristic legal person, both the company and its member have separate legal identity that is distinct from each other.

    • Perpetual Succession

      A company existence is uninterrupted, even the death or insolvency of sole shareholder(s)/ directors cannot affect the continuity of business of the company, since the nominee person will act on his behalf.

    • Limited liability of member

      The liability of member of a one person company is limited to the amount of share capital remaining unpaid on the shares held by him.

    • Special Privileges

      Unlike a private limited or public limited company one person company is required to do very little compliance with the Registrar of Companies.

    • Complete control over management

      In One Person Company, the single shareholder has complete control over the management of the company, unlike other private limited companies where minimum 2 director/shareholder are required and the controlling interest is divided among these two director/shareholder.

    Things to Know


    Unique Name

    he proposed name selected by you should be unique and should not resemble to the name of an existing company or Limited Liability Partnership. The name of One Person Company must end with words ‘Private Limited’ and shall include word (OPC) in bracket

    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 a one person 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.  
    Director   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 be incorporated with only one person as a Director of the company.   Subscriber Subscriber means a person who has agreed to subscribe to the share capital of the company and on its registration, whose name is entered as a member in the Register of Members. One person company can be incorporated with only one member. Sole Member have to appoint a nominee which in the case of death of sole member will become the member of the company. Only a natural person who is an Indian citizen and resident in India is eligible to incorporate a One Person Company and to become a nominee for the sole member of a One Person Company.   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.  

    Process and Timelines


    Step 1.

    1-2 Days

    Obtaining requisite Documents and information

    Step 2.

    1-2 Days

    Obtaining DSC

    Step 3.

    1-2 Days

    Filing of Requisite forms with ROC

    Step 4.

    2-3 Days

    Certificate of Incorporation

    Document Required


      From Director

    • Copy of PAN (in case of resident);
    • Copy of Passport (in case of non-resident);
    • Copy of proof of identity (Voters ID/ Passport/ Driving License)
    • Copy of residential proof (Bank Statement/ Telephone Bill/Mobile Bill/ Gas Bill not older than two months);
    • Consent to act as director*
    • Disclosure of interest in other entities*
    • Passport size photo of the Person authorized to operate Bank Account;

      From Company

    • 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 premises (Any one, not older than 2 months)
    • No-objection Certificate from the owner of the premises for its use as registered office*
    • Copy of PAN;

      From Subscriber

    • Copy of PAN;
    • Copy of proof of identity (Voters ID/ Passport/ Driving License);
    • Copy of residential proof (Bank Statement/ Telephone Bill/ Mobile Bill/Gas Bill not older than two months)

      From Nominee

    • Copy of proof of identity;
    • Copy of residential proof;
    • Consent in INC 3

    Note: *Draft will be provided by our team

    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:

    • 1 DSC
    • 1 DIN
    • Company Registration fees and stamp duty
    • Certificate of Incorporation
    • Company’s PAN and TAN
    • Company'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.
       


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    FAQ's


    At the time of appointment of a person as a Director, he must be over 18 years of age and must be a natural person. He must also hold a valid DIN. In case of OPC having only one Director, he must be a resident of India.
    No, you are not required to be present at our office or appear at any office for the incorporation of a One Person Company. All the documents can be scanned and sent through email and the original hard copy can be couriered to our office.
    It takes around 5-10 days for incorporation of a One Person Company. The time taken for incorporation will depend on submission of relevant documents by the client and speed of Government Approvals.
    Once a Company is incorporated, it will be active and in-existence until you liquidate it either by striking-off or winding up.
    DIN is a unique identification number assigned to all existing and proposed Directors of a Company. Before a person gets appointed as a Director, he must obtain a valid DIN. DIN never expires and a person can possess only one DIN.
    Nominee should be any Resident of India. 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 financial year.

    Any commercial/industrial/residential premises can be used as a registered office of the company in India where communication from MCA will be received for the purpose of smooth functioning of the business.

    Digital Signature Certificate (DSC) establishes the identity of the signee electronically while filing documents. The Ministry of Corporate Affairs (MCA) mandates that e-form(s) submitted on MCA portal are digitally signed using DSC.
    Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of a OPC.
     
    For the above purpose, 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 financial year.
    Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued by Income Tax Department of India as a proof of identification for tax purposes. It is required for obtaining Digital Signature Certificate, opening bank account, various statutory registrations, to pay taxes and filing tax returns and many other transactions as prescribed by government time to time. It is mandatory for a company incorporated in India to obtain PAN.
    A person can be member in only one OPC. However, there is no restriction on a person who is a member of OPC to become member of any other private company.
    Yes. It is mandatory for all the new companies incorporated w.e.f 23rd February, 2020 to obtain EPFO and ESIC registration.
     
    Yes. All the new companies are required to apply for opening the company’s bank account through the Form AGILE PRO.
     
    No. Registration for Professional Tax  is mandatory only in respect of new companies incorporated in the State of Maharashtra w.e.f 23rd February 2020.
     
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