One Person Company Registration
One person company (OPC) in India is one of the easiest forms of corporate entities to manage. OPC is a hybrid of Sole-Proprietorship and Corporate form of business. OPC Registration opens up new business opportunities for sole proprietors and entrepreneurs who also wish to enjoy the advantages of limited liability, and a separate legal entity as well. It requires only one person who will act as a member, shareholder, and director. An OPC can be Incorporated with any amount of Capital. However, for issuing minimum shares worth Rs. 1 lakh fees must be paid to the Government (Authorized Capital fee) during the incorporation of an OPC.
OPC Registration is easy, seamless, cheapest and quickest with TeamIndia.co.in! Apart from a One Person Company registration,TeamIndia.co.in also helps entrepreneurs with Private Limited Company Registration, Public Limited Company Registration, Partnership Registration, HUF, LLP Incorporation and Proprietorship Firm Registration easily. We also provide Secretarial Compliance Services at TeamIndia. You may get in touch with our compliance manager on phone number or email email@example.com for free consultation.
1. No Minimum Capital
There is No minimum capital required to form a One Person Company. It can be registered even with Rs. 1000 as total Authorized Share capital.
2. Separate Legal Entity
An OPC enjoys the benefit of Separate Legal Identity which clearly states that assets and liabilities of the business are not the assets and liabilities of the Directors or shareholders.
3. Limited Liability
A shareholder or the owner of a Company has a limited liability towards the company. His/her liability is limited up to the shares subscribed by him/her.
4. Minimum compliances
For the purpose of Annual filing and other compliances, One Person Company is treated as a Private Limited Company. However, it is exempted from many compliances. It does not have to hold AGM every year.
5. Builds Credibility
All the information relating to the one person company are made available in a public database. This feature makes it easy to authenticate the existence of the business that ultimately helps in improving business credibility.
6. Perpetual succession
The company keeps on existing in the eyes of law even in the case of death, insolvency, the bankruptcy of any of its member or shareholder. It continues as a legal person until it is legally dissolved.
Process of Registration
1. Documentation – A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
2. OPC Name Approval – Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently will apply for the approval of name for your One Person Company. You may suggest up to two names of your choice. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your One Person Company in Part A of SPICe Plus form.
3. OPC Registration – We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
Documents for OPC Reg
1. Photograph of all the Directors and shareholders
2. PAN Card of all the Directors and shareholders
3. ID Proof of all the Directors (Driving License/Passport/Voter ID)
4. Electricity Bill or any other utility bill for the address proof of the Registered Office
5. No Objection Letter (NOC) from the landlord to use the office as a registered office of a company must be submitted.
Frequently Asked Questions
As the name suggests, a One Person Company can be started with one director.
A nominee is a person who in the event of death or disability of the subscriber of the One Person Company shall assume his position. Memorandum of Association of a One Person Company will mandatorily prescribe the name of the person.
Yes. Anyone can be appointed as a nominee, provided he or she holds a correct PAN in his or her name.
Yes. A nominee can be changed at any time with due intimation to the Registrar.
In case the paid up share capital of an OPC exceeds 50 lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into a private or public company.
Yes, NRIs / Foreign Nationals / Foreign Companies can hold shares of a Private Limited Company subject to Foreign Direct Investment (FDI) Guidelines.
The OPC shall inform RoC in form INC-5, if the threshold limit is exceeded and is required to be converted into private or public company.
No, A person can be member in only one OPC.
Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.
No, FDI is not allowed for One Person Company. You may consider incorporating a Private Limited Company if you desire to bring FDI.
Yes, the Act has not made any restriction for a One Person Company to become a member of another Private Limited Company.
A One person company can easily be converted to a Public or Private Limited Company.
No, you will not have to be present for registering of an OPC. OPC incorporation is a completely online process.
TeamIndia.co.in provides One Person Company(OPC) Registration all across India.
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