One Person Company is a new concept introduced by the government which can be formed by a single person!
Starting at 9999/-
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About this Plan
One Person Company (OPC) is defined under section 2 (26) of the Companies Act, 2013. For OPC registration there is a requirement of just one director and one member. It is a preferable business structure as there are fewer compliance requirements in comparison to a private company. Enterslice can assist you with OPC registration in a hassle-free manner.
DSC for proposed director
MOA & AOA
Certificate of Incorporation
Who should go for it?
If you are carrying a sole proprietorship firm then we will suggest you go for OPC registration as it will offer benefits of the company. OPC registration is a better option to carry a proprietorship under the blanket of a company. An Indian resident can apply for OPC registration.
Obtain DSC (Digital Signature Certificate)
File Name Approval Application
Draft MOA (Memorandum of Association) & AOA (Article of Association)
File One Person Company Incorporation Application
Issue Certificate of Incorporation
MOA (Memorandum of Association) & AOA (Article of Association)
An affidavit from subscriber & director
Consent of Nominee
Registered address proof such as utility bill or rental agreement in case of rented property
Declaration by professional in respect of filing of incorporation form
Frequently asked Questions
Q1 Who is not eligible for OPC registration?
The following cannot apply for OPC registration:
Q2. Who is eligible to apply for OPC registration?
Only an Indian resident is eligible to become member and nominee of an OPC.
Note: Person resident in India means who have stayed in India for a period of 182 days in an immediately preceding financial year.
Q3. Can OPC be converted into a Private Limited Company?
Yes, OPC can be converted into a Private Limited Company voluntarily by filing the prescribed form with the authority. However, in the following cases, conversion becomes mandatory:
In case paid-up share capital increase beyond Rs. 50 lakh
In case of turnover exceed beyond Rs. 2 crores.
Q4. What are the tax benefits for OPC in India?
There are no specific tax benefits for OPC. Income tax rate of 30%, MAT, & Dividend Distribution tax applies as it is.
Q5. What are the mandatory compliances for the OPC?
Following are the basic mandatory compliances for OPC:
Half yearly one board meeting (Time-gap should be less than 90 days in between two BMs)
Maintenance of Books of Accounts
Preparation of Financial Statements
Statutory Audit Requirement
Filing of Income Tax return (Due Date 30th September)
Filing of financial statements & Annual Return in prescribed forms such as AOC-4 & MGT-7
Q6. What is the validity of OPC registration?
Once the Certificate of Incorporation is issued by the registrar, it shall be valid throughout the life of the company.
Q7. What are the capital requirements for OPC registration?
For OPC registration, no minimum capital is required.
Q8. Can a director be appointed in more than one OPC?
No, a director appointed in one OPC cannot become director of another OPC. This rule also applicable to the nominee.
Q9. Do I need to physically present at the time of OPC registration?
No, you don't need to physically present at the time of OPC registration with MCA, the whole process is online.
Q10. How much time is required for OPC registration?
OPC registration usually takes around 7 to 10 working days.
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