ONE PERSON COMPANY REGISTRATION

Ideal for person looking to start Solo and take advantage of legal entity concept

OPC INCORPORATION

Professional Fees flat Rs 4,999/-


    STEPS TO INCORPORATE A ONE PERSON COMPANY

    Step 1
    Collection of Documents
    Step 2
    Issuance of Digital Signature Certificate (DSC)
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    Step 3
    Application for Name Approval
    Step 4
    Preparation and Submission of Incorporation Documents
    Step 5
    Approval of Incorporation of Company
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    LIST OF DOCUMENTS REQUIRED FOR INCORPORATION

    Identity Proofs for Director & Nominee

    PAN, Aadhar/Passport, Photograph

    Address Proof for Company

    Utility Bill of the Place of Business (Not older than 2 months)
    Rent Agreement/NOC for allowing usage of the place

    Address Proofs for Directors/ Nominee

    Bank Statement/Utility Bill of Residential Address


    Advantages of Private Limited Company

    Continued Existence

    A one person company will have continued existence even after the decease of the director as it will pass on to the nominee director as compared to a sole proprietorship which ceases to exist after the death of the proprietor.

    Credibility and Reliability

    As it has a proper legal identity and audited statements, their credibility and reliability among vendors is obviously increased and higher as compared to a sole proprietorship

    Limited Liability

    The director's personal assets and capital is protected from any liability regardless of any business debts. This is a huge advantage in comparison to sole proprietorship where the owner is personally liable. Liability is limited to what the person's investment in the business is.

    Lesser Compliance Requirements

    There are relatively less compliance obligations for an OPC, with regard to AGMs and board meetings etc.


    FREQUENTLY ASKED QUESTIONS

    One Person Company has been recently introduced by the Indian Companies Act 2013, and is an improvement on the sole proprietorship type of entity. It is a combination of a sole proprietorship and an Incorporated limited company.

    An OPC can be formed with one person alone who can be both the director and shareholder of the company.

    While a One Person Company has a completely official  legal structure by way of being a limited company and protection from personal liability, a sole proprietorship does not. Basically, if you haven't created a separate legal entity for your business, then it falls into the domain of a sole proprietorship. A sole proprietor assumes full responsibility for the business and will be personally liable for any sort of financial obligations.

    To form a One Person Company in India, the person must be either an Indian citizen or a resident of India. Minors, foreign nationals or citizens and NRIs are not eligible for the formation of a One Person Company.

    Yes. One Person Company can be converted (either voluntarily or even mandatorily as per stipulations) when it has crossed the threshold limit as prescribed by the MCA.

    A One person company has to be compulsorily converted into a private or public limited company within six months if its paid up capital exceeds ₹50 lakh or if it's average annual turnover for the three preceding and continuous years is more than ₹ 2 crores.

    A voluntary conversion into a private or public limited company would entail either converting it after and only after two years of Incorporation OR if it qualifies for either of the two stipulations stated for a compulsory conversion (paid up capital exceeding ₹50 lakh or a continuous three year annual turnover that exceeds ₹2 crores).