One Person Company

Rs. 12999/- (All inclusive)

DSC and DIN

Name reservation

MOA and AOA

Certificate Of Incorporation

PAN & TAN


Introduction

What is One Person Company ?

The concept of One Person Company (OPC) in India was first introduced in the Companies Act, 2013 to give a boost to entrepreneurs who have great potential to start their own business in organized manner by allowing them to create a single person company. Since, no intervention from any third party is seen, it makes it more beneficial. One of the biggest benefit of a One Person Company (OPC) is that there can be only one member in a OPC, unlike Private Limited Company or a Limited Liability Partnership (LLP) and Similar to a Company, a One Person Company is a separate legal existence from its promoter, Limited Liability of its shareholders, while having continuity of business and being easy to incorporate.

In One Person Company one Entrepreneur can operate a corporate entity with limited liability but it has a few limitations i.e In every One Person Company (OPC) there must be a nominee Director in the MOA and AOA of the company - who will become the owner of the OPC in case the sole Director is disabled and also, a One Person Company must be converted into a Private Limited Company if it crosses an annual turnover of Rs.2 crore over three years or has paid up capital of Rs. 50 lakh and must file its audited financial statements at the end of each Financial Year like all types of Companies with the ROC. Hence, it is important for the people to carefully consider the features of an OPC prior to incorporation.

What Makes a One Person Company So Unique

Single Owner

Only one person operates the whole company. Therefore it leads to quick decision making and no interference by any other person.

Separate Legal Existence

One person company is a separate legal entity from its promoter or shareholders.

Privileged borrowings

Unlike company or LLP’s, Partenership firm is not required to get registered, therefore no such annual compliance are to be followed except filing of income tax returns.

Easy to Manage

OPC is easy to manage. There are no such complicated compliances. Very few ROC filing is to be done.

Limited Liability

Liability of director is limited to the amount of their contribution. That is if the company suffers from any loss, the director’s personal properties will not be at risk.

Perpetual Succession

In One person Company nomination of a successor is mandatory by director. After the death or disability of director, the nominee will be the sole member. Therefore the OPC will continue to exist.

Procedure

Steps

  1. Obtain Digital Signature certificate (DSC)
  2. Obtain Director Identification Number (DIN)
  3. Name Reservation Application to be filed with ROC
  4. After the name is approved, apply for registration
  5. Incorporation certificate and apply for PAN & TAN-Work complete

Documents Required

  Self Attested copy of Identity Proof of all the Partners- PAN for Indian Nationals and Notarized Passport for Foreign
   Nationals.


  Self Attested copy of Identity Proof of the Director- Voter Id/ Driving License/ Passport/ Aadhar Card/ Bank Statement / Bill
   (Any One)

  Self Attested copy of Additional Identity Proof of the Director - Bank Statement / Electricity Bill/ Telephone Bill/ Gas
   connection Bill (Any One)

  Municipal Registered Deed/ House Tax Paid Receipt of the Registered Office (if owned) Rent Agreement & NOC is also
    required in case property is not owned.

  Additional Proof of the Registered Office- Electricity Bill/ Telephone Bill/ Mobile Bill (Any One).

  Bank Statement/ First Page of Pass Book/ Printed Cancelled Cheque is required for Bank Account proof which must
   Account No & IFSC Code (For GST Registration).

  Required Business Name.

  Hard Copy of Digital Signature Application Form signed Individually by all the Directors/ Subscribers.

What We Can Do

We at Compliance Advisor are providing registration and Compliances services in India, offering registrations of Limited Liability Partnerships (“LLPs”), Partnerships, Private Limited Company, Public Limited Company, one person company (“OPCs”), Nidhi Company, Section 8 Company, Producer Company and Indian Subsidiary of a Foreign entity.

Average 10-15 working days required to complete Incorporation, subject to submission of complete documents by the client and the government processing time. For any query related to OPC Incorporations and business formation in India, get free advice by scheduling an appointment with a Compliance Advisor.

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