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Do you want to register One Person Company? You are at the right place...

One Person Company Registration in India

Register your One Person Company online in India within 7 – 10 days. Take best expert advice from Laudable Legal Solutions in OPC Registration.


What is One Person Company?

As per provision of section 2(62) of the Companies Act, 2013 defined “one person company” means a company which has only one person as member.

Any natural person (should not be minor) who is an Indian citizen whether a resident in India or not i.e. NRI shall be eligible to incorporate a One Person Company and appoint nominee of an OPC,Timeline for Non-resident individuals has been reduced to 120 days

One person company (OPC) means a company formed with only one (single) person as a member, unlike the traditional manner of having at least two members. It is recognition of single person economic entity lightens a path for small traders, service providers to venture into business by expanding their opportunities through corporate identity.


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One Person Company Registration

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Advantages Of One Person Company


    A-One Person Company (OPC) is best suited for people who wish to be sole entrepreneurs. While even a sole proprietorship offers the same benefit, unlike a sole proprietorship, an OPC offers limited liability and also a separate entity status, along with a better standing in the market (increased trust and respect).

  • Limited liability: According to the Companies Act 2013, in an OPC, the liability of the single shareholder is limited to the unpaid subscription money in his/her name. This means that his/her personal property is completely safe from creditors of the business.
  • Market Value: People bestow a lot of trust in a private limited company making it easier to trust an OPC. Even during B2B (business-to-business) dealings, larger corporations prefer a company structure to a sole proprietorship. Also, being socially accepted allows you to attract quality talent and create an efficient talent pool.
  • Continuous Existence: An OPC has a seperate legal identity, it would pass on the nominee director, therefore, it has continued existence.
  • Easier to Raise Funds: As compared to a general partnership or sole proprietorship, an OPC is preferred by banks for loans. This is because it has the structure of a company. The structure of a company is transparent and its perpetual succession ensures that the bank doesn’t suffer losses in any scenario.
  • Full Control Over the Company: As OPC is a single member company there is full control over the company which helps in fast decision making and execution.
  • Lesser Compliances: As compared to a private limited company, an OPC has lesser compliance requirements. An OPC needs to conduct at least one board meeting in each half of a calendar year (one between January-June and one between July-December). However, if the OPC has a single director, then he can pass a resolution without a meeting and enter the details in the minutes’ book.

Documents Required



Passport Photo
Copy of PAN Card
Copy of Electricity Bill
Sale Deed (if owned)
Copy of Aadhar Card
Address Proof of Director/Partner (Bank Statement / Mobile / Telephone Bill)
Copy of Rent Agreement
No Objection Certificate

Major Amendments in the Union Budget of 2021-22


  • Companies with paid-up capital up to Rs 2 crore and turnover up to Rs 20 crore will fall under one person company. Previously, this threshold held the limit of paid-up capital to Rs 50 lakh and turnover up to Rs 2 crore. This is aimed at benefiting more than 2 lakh companies in compliance required.
  • The residency limit for the Indian citizens is set up to a One Person Company is now reduced to 120 days from the earlier 182 days.
  • Non-resident individuals with entrepreneurial potential are now enabled to set up One Person Companies (OPC) with no paid up capital and turnover restrictions, reducing registration timeline from 182 days to120 days. Earlier only Indian resident citizens were permitted to set up OPCs.

Process For Incorporation Of One Person Company

Want to incorporate a company.

1

Login to our online portal through the given above.

2

Fill the from and upload the requested document.

3

Sign the draft documents as provide by incorporation expert to be upload on ROC portal.

4

Get your incorporated company.

5

Set back and relax.

6

Choose Package

Basic Plan

₹ 3,499

  • Register your One Person Company at Ministry of Corporate Affairs
  • Drafting & Filing by CA/CS
  • Expert advice by CA/CS
  • MCA processing and CIN
  • Name Reservation
  • Company PAN & TAN
  • Memorandum of Association (MOA)
  • Article of Association (AOA)
  • Allotment of 1 DIN
  • ESI and PF registration
  • Board Resolution for account opening
  • GST registration and Current account opening in your nearest branch

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Standard

₹ 13,999

  • Register your One Person Company at Ministry of Corporate Affairs
  • Drafting & Filing by CA/CS
  • Expert advice by CA/CS
  • MCA processing and CIN
  • Name Reservation
  • Company PAN & TAN
  • Memorandum of Association (MOA)
  • Article of Association (AOA)
  • Allotment of 1 DIN
  • ESI and PF registrationCurrent Account Opening in your nearest branch
  • Board Resolution for account opening
  • The 1st Board Resolution documentation
  • Consent Letter drafting, appointment of the Auditor
  • INC-20A commencement of business
  • Financial statements preparation
  • MCA annual return filing and DIR-3 Director KYC

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Premium

₹ 19,999

  • Register your One Person Company with the Ministry of Corporate Affairs
  • Drafting & Filing by CA/CS
  • Expert advice by CA/CS
  • MCA processing and CIN
  • Company PAN & TAN
  • Memorandum of Association (MOA)
  • Article of Association (AOA)
  • Allotment of 1 DIN
  • ESI and PF registration
  • Current Account Opening in your nearest branch
  • GST registration
  • GST Return filing for 12 months
  • The 1st Board Resolution documentation
  • Consent Letter drafting
  • Appointment of the Auditor
  • INC-20A commencement of business
  • Financial statements preparation (Profit & Loss and Balance Sheet)
  • Annual return drafting
  • MCA annual return filing DIR-3 Director KYC
  • Income Tax Return filing

Request Callback

Workflow at Laudable Legal

Step 1 :
Fill our registration form.

Step 2 :
Expert will call you & receive all the necessary documents.

Step 3 :
Our experts will start drafting the requirements.

Step 4 :
Your DSC will be created.

Step 5 :
Name approval will be taken from ROC.

Step 6 :
The documents will be filled and uploaded on ROC portal.

Step 7 :
Congratulations! Your company is incorporated.

Comparison


Particulars Private Limited Company LLP One Person Company
Ideal For Businesses having high turnover and enterpreneur who need external source of funding Service oriented business that have low investment needs Proprietor looking to limit liability and wants 100% control over the business
Minimum Share Capital No requirement for minimum share capital No requirement for minimum share capital No requirement for minimum share capital. If capital exceeds 50 lakhs, OPC gets converted to Pvt. Ltd.
Members Required Minimum 2 Minimum 2 Minimum 1
Maximum 200 Maximum No limit Minimum 1
Directors Required Minimum 2 Two designated partners Minimum 1
Maximum 15 Maximum not applicable Minimum 15
Statutory Audit Compulsory Not compulsory unless partner’s contribution exceeds 25 lakhs or annual turnover exceeds 40 lakhs Compulsory
Liability of Partners/Directors Limited Limited Limited
Foreign Direct Investment Eligible via automatic route Eligible via automatic route Not eligible for FDI
Income Tax Rate 22% 30% 22%
Statutory Compliance More Less Moderate
GST Registration In case of service if turnover exceeds 20 lacs Same Same

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FAQ

  How long will it take to incorporate a One Person Company?
AT LAUDABLE OPC can be incorporated in 7-10 days. The time taken for incorporation will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy incorporation, please choose a unique name for your Company and ensure you have all the required documents prior to starting the incorporation process.
  Is it mandatory to include OPC in name?
Section 3(1)(c) of the Act provides that the words ‘One Person Company’ must be mentioned below the name of the company in bracket wherever it appears.
  What is Maximum and minimum number of Members and Directors in an OPC?

  • A) The minimum and maximum number of members in an OPC can be only one. As per Section 152(1) of the Act, an individual being member of OPC is deemed as First Director of the OPC until the director(s) are duly appointed by the member.
    A person can be member in only one OPC.
  • B) The minimum and maximum number of directors in an OPC can be one (1) and fifteen (15) respectively.
  • C) In order to increase the number of directors beyond 15 directors, a special resolution must be passed by the OPC to that effect.

  A person can be a member in how many OPCs?
A person can be member in only one OPC.
  What if a member of an OPC becomes a member in another OPC by virtue of being a nominee in that other OPC?
Where a natural person, being member in One Person Company becomes a member in another OPC by virtue of his being a nominee in that OPC, then such person shall meet the eligibility criteria of being a member in only one OPC within a period of one hundred and eighty days, i.e., he/she shall withdraw his membership from either of the OPCs within one hundred and eighty days.
  Who can be Nominee in an OPC?
The nominee must be a major, Indian citizen and Indian resident. A minor cannot beocme a member or nominee of a one person company or be able to acquire shares in another one person company.
  What is the right and duties of Nominee?
OPC must mention one person as ‘Nominee’ in the event of death, incapacity, etc. who will-

  • A) become a member of OPC,
  • B) be entitled to all shares of the OPC, and
  • C) bear all liabilities of OPC.

  Can a nominee of a One Person Company be changed after incorporating the company?
A nominee can be changed at any time with due intimation to the Registrar.
  What will be Taxation system for OPC?
Since the Income Tax Act, 1961, recognizes an OPC as a separate entity, the tax rules for a private limited company apply to an OPC too. Hence, as compared to a sole proprietorship, an OPC could lead to higher tax liability as the profits rise, since the slab rate benefits (in a sole proprietorship) fade off gradually.
  What is Authorised capital fees?
Authorized Capital of a Company is the number of shares a company can issue to the shareholders. A Company is required to pay the Government an authorized capital fee to issue shares.
  Is Audit compulsory for OPC?
For an OPC statutory audit is mandatory. A company needs to appoint a CA as the auditor of the Company.The auditor needs to verify the books of accounts and issue a Statutory Audit report.
  Can OPC raise funds?
An OPC can raise funds through venture capital, financial institutions.An OPC can also raise funds by converting into a Private Limited Company.
  What is the difference between Sole proprietorship and OPC?
In One Person Company, a single person runs a company limited by shares whereas a Sole Proprietorship means an entity that is run by one individual, and the owner and business are considered as the same entity.
  Conversion of OPC into a Private Limited Company?
There are two ways of converting an OPC into a private limited company either voluntarily or mandatorily. … To apply for conversion of OPC to private limited company, you need to fill the form INC-6, to the Ministry of Corporate Affairs, Govt. of India.
  What do I need to quickly incorporate my One Person Company?
To incorporate a One Person Company quickly, make sure the proposed name of the Company is very unique. Names that are similar to an existing company / limited liability partnership / trademark can be rejected and additional time will be required for resubmission of names.