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One Person Company Registration

Obtaining registration of a one person company will provide autonomy to a single individual of whole company. OPC Registration can easily be obtained by following the provisions of the Companies Act, 2013.

Package Inclusions:-

  • DSC&DIN
  • OPC Name Reservation
  • MOA& AOA
  • Corporate Identification Number
  • Registration in 15 days assured
  • 100% Money Back
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What is a One Person Company?

Section 2 (62) of Companies Act says a company with only one person as its member falls under the criteria of One Person Company or OPC. OPC is owned and managed by one person only. Moreover, all the members of the OPC are followers to its memorandum of association or its shareholders.

What is One Person Company Registration?

One Person Company is a brand new concept which gives full authority 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 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.

Keeping the current economic scenario in mind, OPC registration can be considered as the most convenient and modern form of business in India. Companies Act, 2013, introduces the concept of OPC with the idea to promote micro-businesses in the Indian economy. One Person Company Registration in India has uplifted the confidence of people with entrepreneurial ideas and at the same time has given boost to entrepreneurs in the Indian economy. OPC registration online also saves the time and effort of the individual.

One Person Company registration is an easy process which can be done under the silhouette of the companies Act 2013. Under OPC registration process, an individual can act as a single person company and enjoys the freedom to work independently without the complexity of having partners. The nominee or director should be an Indian citizen in order to get OPC registration done.

OPC incorporation has proven beneficial to the overall growth and development of the economy. More and more people are coming forward to invest in their ideas. Incorporation of OPC offers several benefits to the company, such as; the company becomes eligible for banking loans and credits. So if you are dreaming of incorporating One Person Company, then accessing networks become quite feasible.

One Person Company consists of a single person; it can be formed by subscribing to the memorandum of association and fulfilling other details provided in the Companies Act 2013. Information related to the nominee and who will hold the authority in case of demise of the original owner should be provided in the memorandum of association.

Once the memorandum of association is completely available on paper; submit it along with the nominee’s consent to his nomination to the Registrar of Companies. Though nominee can extract his/her name at any point in time by submitting the application to the Registrar.

Why to Choose OPC?

  • Easy to create and run
  • Minimum Paperwork
  • A Separate Legal Entity
  • Easy Funding
  • Limited Liability
  • Minimum one director
  • Exemption from the third party
  • Free from multiple compliances
  • No minimum paid-up share capital
  • Increase Trust
  • Receive Interest on any late payment
  • Remains unaffected with the credit rating
  • Deduction under Income Tax Law

Process of OPC Registration

OPC Registration Procedure

OPC Registration - Eligibility Criteria

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

1. 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.

2. Liability on Director is Limited

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.

3. Fewer Compliances

The compliances under OPC registration are very less as compared to any other company. OPC registration process can be done with minimum paperwork.

4. 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.

5. Greater Credibility

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

6. No legal Disputes

Now, when the company is registered with one person, then there is no chance of any legal disputes arises between the director or any other third party.

Steps for OPC Registration

Apply for DSC

The proposed directors must obtain Digital Signature Certificate (DSC), which cannot be obtained without submitting the following documents:

  • Address Proof
  • Aadhar Card
  • Photo
  • Email-id
  • PAN Card
  • Phone Number

Apply for DIN

Obtain the Director Identification Number (DIN) of the proposed Director. Provide the details like name and address proof of the proposed director in SPICe form. Now up to three directors can apply for the DIN within SPICe form.

Name Approval Application

Once you have applied for DSC and DIN, the next step is to process for name approval application. The name of the company will be available in the form of “ABC (OPC) Private Limited”.

There are two ways to get name approved: first is to make application in Form SPICe 32 or the second way is to use RUN Web service of MCA by providing one preferred name along with the reason of keeping it. Though, on March 23, 2018, Ministry has come to a decision to permit two proposed Names and one re-submission (RSUB) at the time of preserving Unique Names (RUN) for the companies.

Documents for One Person Company Registration

  • Memorandum of Association (MoA); states why the company come into existence.
  • Article of Association (AoA), consists of the laws on which the company will operate.
  • A proof of nominee consent in Form INC-3 along with nominee’s PAN card and Aadhar card
  • NOC from the owner and proof of registered company office
  • Affidavit of the proposed director in the Form INC-9 and DIR-2 respectively

Filling of forms with MCA

Attach all the documents to SPIce Form, SPICe-MOA and SPICE –AOA. Also, provide the DSC of the directors and the professional, and upload all the details to the MCA site for approval.

Once you have uploaded the file, you will receive Form 49A and 49B for the PAN and TAN which have to be uploaded to MCA after affixing the DSC of the proposed Director.

Issue of Certificate of Incorporation

Once your all documents are verified, the Registrar of Companies will issue a Certificate of Incorporation.

Mandatory Compliance for OPC Registration

  • Conducting minimum two board meetings as stated under the Act.
  • Statutory audit of financial statements by chartered accountant
  • Appointment of Auditor
  • Filing of ITR
  • Annual filings to the registrar of companies
  • Keeping up statutory registers
  • Form AOC-4 for financial statement
  • MGT-7 for an annual return

Tax rule for One Person Company Registration?

Filling for Income Tax Returns is a mandatory thing for One Person Company.

TDS should be filed quarterly mentioning the TAN. If company has employees then deducting tax at source become necessary.

If OPC has more than ten employees then getting an ESI registration by law becomes necessary

As per the Income-tax law, an OPC is liable to pay 30% of its income to the taxation authority in the fiscal year.

Comparison Chart of OPC/Private Company/LLP

S. No

Particulars

OPC Company

Private Company

LLP

1

Eligibility

Indian citizen and resident in India are eligible to integrate an OPC

NRI or Indian citizen can form a Private limited company.

Any person or group of the corporate can actively involve in the formation of LLP

2

Minimum Requirement

Member – 1,
Director – 1,
Nominee of Sole Member – 1

Members – 2,
Directors – 2

Designated Partners – 2

3

Procedure

Obtain DSC, DIN, MoA & AoA along with INC-32 Incorporation Filing, PAN, TAN Applications

Get DSC, MoA & AoA along with INC-32 Incorporation Filing, PAN, TAN Applications

Collect DSC, DPIN, Name Approval, Filing for Incorporation, File LLP Agreement, PAN and TAN Applications

4

Existence

OPC  never rely on the Nominee or Director, and it can be dissolved by Regulatory Authorities.

A private limited company does not dependent on the directors or shareholder. Government authorities can dissolve it. 

LLP can sustain its survival irrespective of changes in partners.

5

Credibility

Medium

High

Medium

6

Time Taken in Registration

15 – 20 Days

10 – 15 Days

15 – 20 Days

7

Conversion System

Cannot be converted before two years

Can be converted into LLP

Not directly converted into a Private Limited Company

8

Compliance Requirements

Annual Return Filing
No Board Meetings, if only one director
No General Meetings

Annual Return Filing
Board Meetings & General Meetings

Annual Return Filing

9

Statutory Audit

Compulsory

Compulsory

Only in case of contribution is more than 25 lakhs and less than 40 Lakhs

10

Fund Raising Options

Low

High

Low

11

Recommended For

Sole promoters

Start-ups and growing

Professional services firms

12

Foreign Investment

Not Allowed

Allowed

Allowed

How Enterslice helps you to get One Person Company Registration

Fill The Form

Fill The Form

Get a Callback

Get a Callback

Submit Document

Submit Document

Track Progress

Track Progress

Get Deliverables

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Frequently Asked Questions

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.

One Person Company is a separate legal entity, offering limited liability protection to its sole shareholder and is easy to incorporate. An OPC can be started with a minimum capital of Rs. 1 lakh.

As prescribed in Section 2 (62) of Companies Act, a one-person company or OPC can be formed with just Director and one member. The compliance requirements in OPC are lesser than a private company.

A company having an annual turnover of more than Rs. 2 crores or has paid-up capital of over Rs 50 lakhs cannot be converted into a one-person company.

An OPC allows a single person to run a company, but here the owner and the business are considered as separate entities. Whereas in a sole proprietorship, the business is run and owned by one individual and they are considered as a single entity.

The incorporation rules of OPC require that the sole member of the company should include the name of the nominee in the companies Memorandum of Association (MOA), who will undertake the entity after the expiry or incapacity of the member.

A one person company must have minimum of 1 director.OPC can have a maximum of 15 directors and to have more than 15 directors a special resolution needs to be passed.

The name of OPC must be creative, imaginative and distinct. The title should be suffixed by the word OPC.

In case of One Person Company, the share certificate shall be issued under the seal of the company, which shall be signed by one director or any person authorized by the board of directors of the company for this purpose and the company secretary or any other person.

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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