One Person Company

OPC Registration in India! Get your OPC Registration before it gets too late!

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  • DSC&DIN
  • OPC Name Reservation
  • MOA& AOA
  • Corporate Identification Number
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Introduction of One Person Company

One Person Company or OPC is a kind of proprietorship firm where the company is formed by a single person. Getting One Person Company Registration is very easy. Enterslice is one call away from your OPC Registration.

What is One Person Company Registration in India?

The One Person Company was recently grown up as the strong improvement over the sole proprietorship. It is entirely a new concept which gives full control over the company to the single promoter while limiting its liability or duties to contribute to the business.

However, there is no road to raise an equity funding or offering the employee stock option in One Person Company in the early stage of the period. Into the bargain, If One Person Company anytime hits an average three- year turnover of over Rs 2 crore or has paid- up capital of over Rs 50 lakhs then it must be turned into the private limited company or public limited company within the six months.

Enterslice has a track record of registering thousands of One Person Company in India. Enterslice is working round the clock to serve their client the best consultancy and service.

One Person Company Registration under Companies Act 2013

Section 2 (62) of the Companies Act, 2013 defines OPC as a company which has only one person as a member.

Looking at the legal nature of OPC then we will see OPC can be registered only as a private limited company.  This means that all the provisions that are applicable to the private company will be applied to OPC unless otherwise expressly excluded in the act or rules made thereunder.

Procedure for One Person Company Registration in India

  • Apply for DSC
  • For One Person Company Registration, one needs to apply for DSC. DSC is a Digital Signature Certificate which is necessary to file the one person company registration documents. DSC is used for filing the electronic documents at ROC. To obtain a DSC you need to provide us the scanned documents and details and our team will get back to you and fill your form and submit that online.

  • Obtain the DIN
  • Once you get your DSC, the next step is to obtain the Director Identification Number of the proposed director in SPICe Form along with the name and the address proof of the sole director.

  • File the Name Approval Application
  • Now, the next step while incorporating an OPC is to choose a name for the company. The name of the company will be in the form of “XYZ” (OPC) Pvt Ltd Company.

    You can register the name of the company in two ways-

  1. Make an application in the Spice Form or
  2. Using RUN Form web service of MCA where you are permitted to give two proposed names and one re-submission while Reserving Unique Name (RUN) for the company.

Once the name is approved by the MCA we can move to the next step.

  • Drafting of MOA and AOA
  • For OPC registration, one needs to prepare the Memorandum of Association (MoA) and Article of Association (AoA). These two documents are the most important document for OPC registration.

    MoA describes the object of the company, the power of the company and on the other hand, the AoA will detail about the rights and duties, rules and regulation that will be followed in the course of business.

    These documents need professional research and knowledge of the law, so it is advisable to draft these documents with the help of professionals. Enterslice has the back of the highly professional team who will draft your documents with deep research and expertise.

  • The signing of Memorandum and Article of Association
  • The MoA and AoA of the company must be signed by the sole member who is also going to be the subscriber of the memorandum in which the details like his name, address, description, and occupation will be discussed. The documents will be signed in the presence of the at least one witness who must also attest the signature and must also sign and give the details.

Documents Required for OPC Registration

  • Submission of MoA and AoA
  • MoA and AoA are the two important documents that need to be submitted at the time of OPC registration.

  • Affidavit of the subscriber and the Director
  • The affidavit will be submitted by the proposed director in the consent who has subscribed to the memorandum and article of association in the Form INC- 9 and DIR-2.

  • Consent of Nominee
  • As you know, One Person Company is formed by One person and there is no certainty of life so to avoid any future chaos a nominee on the behalf of such person is appointed. Furthermore, in case the sole member becomes incapacitated or cannot perform duties the nominee will perform the same duties on the behalf of the director.

    His consent will be filed in Form INC-3 along with the PAN Card and Aadhar Card.

  • Proof of the Registered Office
  • Documents like Aadhar Card, Electricity bill; Phone Bill is required to submit as the identity proof whereas the proof of the registered office of the proposed company along with the proof of ownership and a NOC from the owner. If in case the property is on rent then a Rental agreement is required. 

  • Filing Forms with MCA
  • All the documents attached to SPICe Form- MOA and SPICe-AoA along with the DSC & DIN of the Director and will be uploaded to the MCA site for the approval. After submission of SPICE form, PAN and TAN will be automatically issued by the MCA. No seprate form is reqquired to be filed for PAN and TAN.

  • Certification of Documents
  • A declaration submitted by professional certifying that all documents are made properly.

  • The issue of the Certificate of Incorporation
  • After the verification, the Registrar of Companies will issue a Certificate of Incorporation and we can commence our business.

    You can easily register your One Person Company Online. You just need to prepare your documents and contact us. We will do after work.

Minimum Requirements for OPC Registration in India

OPC Registration in India

What are the Eligibility Criteria for OPC Registration?

The following is the eligibility criteria for OPC Registration in India. Only a natural person who is a citizen of India and resident in India-

  • is  a person who is eligible to incorporate an OPC
  • is eligible to be a nominee for the sole member of an OPC
  • A resident of India is a person who has stayed in India for at least 182 days in the preceding one year
  • If an OPC exceeds a turnover of over Rs 2 crores or has a paid-up capital above Rs 50 lakhs. It must be turned into a private or public within six months.

Advantages of One Person Company Registration in India

  • No Minimum Capital
  • There is no minimum capital required for OPC registration. However, the maximum Authorize capital of One Person Company shall not exceed Rs 50 lakhs at any point in time.

  • Limited Liability
  • There is a limited liability related to One Person Company which means the liability on the Director is limited. The personal asset of the Director won’t be attached to the debt of the business. The property is safe.

  • Less Compliance
  • The compliances under OPC registration are very less as compared to any other company. Minimum paperwork is done.

  • Continuous Existence
  • The death or illness or incapacity of the director won’t disturb the ongoing process of the company as the nominee director will hold the rope to continue the business.

  • Greater Credibility
  • As an OPC needs to have its books audited annually, it has the greater credibility among the vendors and the lending institution.

  • Easy to Set up and maintain
  • Enterslice registers the One Person Company in the blink of the eye.

  • No legal Disputes
  • Now, when the company will be registered with one person then there is no chance of any legal disputes arises between the director and any chance of ego clashes which usually happen.

Difference between One Person Company and Sole Proprietorship

OPC Sole Proprietorship
OPC has a separate legal entity No distinction between the owner and the business
Liability of the shareholder limited Sole liability
Higher compliances compared to sole proprietorship Lesser Tax Implication
Succession with nominee Succession through execution of WILL

How to Convert an OPC to a Private Limited Company?

When mandatory conversion of One Person Company to Private Limited Company is needed in the case when OPC stands on some parameters like-

  • The effective date of the increase in the paid-up share capital of a One Person Capital beyond rupees 50 lakhs and
  • An increase of annual turnover in preceding three consecutive financial years beyond rupees two crores

If any time the OPC fulfill the above criteria the company shall be mandatorily required to convert itself into either a private or a public company.

Voluntary Conversion of OPC to Private Limited Company

  • OPC cannot incorporate itself into the private company or public company before two years has been passed from the date of incorporation.
  • If the time period has elapsed and two years have been passed then OPC can convert itself into a private company or public company.
  • The conversion should be according to the rules and regulations that are laid down by the Companies Act, 2013 under section 18 and Rule 7(4) of the Companies (Incorporation) Rules, 2014

Mandatory Compliances for One Person Company Registration in India

The following are the basic mandatory compliance for One Person Company Registration which is as follows:-

  • At least one Board Meeting in each half of the calendar year and the time gap between the two Board Meetings should not be less than 90 days.
  • Maintenance of proper books of accounts.
  • Statutory audit of Financial Statements.
  • Filing of business income tax returns every year before 30th September.
  • Filing of Financial Statements in Form AOC-4 and ROC Annual return in Form MGT 7.

The Penalty for Non-Compliance of One Person Company in India

If an OPC or any officer of such company contravenes the provisions of Co. Incorporation Rules, 2014, such contravening party will be punishable with fine which may extend to Rs. 10,000/- and with a further fine which may extend to Rs. 1000 for every day after the first during which such contravention continues.

FAQ for One Person Company Registration in India

An OPC is a good option to run a sole proprietorship but under the blanket of a private ltd company.

Only the Indian Resident can register OPCs as it has only one director as per the specification of the Ministry of Corporate Affair.

OPC businesses shall maintain books of accounts complying with statutory audit requirements and submit income tax returns and annual filings with the RoC.

No there are no special tax advantages available for OPC. Tax is paid at the flat rate of 30% on profits.

The Cost of the OPC is marginally lower than that of a private limited company but it takes around 12,000 to incorporate and around 15,000 a year as compliance fees or an auditor fees who will inspect the books of account will charge separately.

No, an individual can only form one OPC at a time. Furthermore, the rule applies to the nominee in an OPC too.

  • a minor cannot be a director of OPC
  • Foreign Citizen
  • Non- Resident
  • Any Person incapacitated by Contract
  • Or another person as the ROC deems fit so

OPC registration is 100% online process. No need to be present physically to our office or ministry of corporate affairs. We will send our personnel to your home or office for document signature.

Usually, we register a company in 7 business days.

A registration certificate issued by the registrar of the business is valid until infinite until you are meeting applicable compliant.

As we know, that the OPC is one man army but at the same time what happens if that one man gets hurt. So, for that purpose, we need to appoint a nominee. He will be not come into the picture until or unless the director met with some any consequence.

You can start your OPC business with authorized share capital Rs. 1 lac only and there is no difference in capital structure as compared to a private limited company.

After the initiation of Digital India or Skill India, you can register your One Person Company online. Just contact us at info@enterslice.com we will reach you back right after the query arises.

Compare your Options
Comparison of Popular Company Registration Options
All Features
One Person Company
Limited Liability Partnership
Private limited Company
Price
₹12000
₹7999
₹12999
Recommended for
Small business and owned by a single promoter
Professional service firms
Early-stage entrepreneurs with broad business vision
Venture Capital Funding
 
 
 
Limited Liability Protection
 
 
 
Dividend Tax
 
 
 
Perpetual Existence
 
 
 
Statutory Compliances
Medium
Low
High
Credibility
Medium
Medium
High
Business Growth
Medium
Medium
High
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