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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.
Separate Legal Entity
As a juristic legal person, both the company and its member have separate legal identity that is distinct from each other.
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.
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.
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
Obtaining requisite Documents and information
Filing of Requisite forms with ROC
Certificate of Incorporation
Note: *Draft will be provided by our team
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:
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.