One Person Company
It just Takes 10 to 15 business days, subject to Government processing time.
What is One Person Company Incorporation Overview
In 2013, the Companies Act, 2013 introduced the concept of a ‘One Person Company (OPC)’. This created an entirely new set of opportunities for budding entrepreneurs who can start a business by creating their own single-person corporate entity.
In an OPC, a single promoter gains complete control of the company, limiting his or her liability for contributions to the enterprise. However, a director nominee is present but has no authority until the real director is unable to continue.
According to Section 2 (62) of the Company’s Act 2013, a company can be formed with only one director and one member. A One Person Company Registration in India is a type of entity with fewer compliance requirements than any other type of company. An OPC is simple to manage because it is run by a single person. If you are an entrepreneur looking for a one-of-a-kind success, you can register as an OPC in India.
Documents Required For One Person Company Incorporation
For Director/Shareholders:
- Self-attested Pan card
- Self-attested Voter id or Driving license or Passport
- Self-attested Bank statement or electricity/telephone/mobile bill
- Recent passport-size photo
For Nomiee:
- Self-attested Pan card
- Self-attested Voter id or Driving license or Passport
- Self-attested Bank statement or electricity/telephone/mobile bill
- Recent passport-size photo
For the Registered address of the company:
If the premise is Rented/Leased
- Copy of the Electricity bill of the owner
- Rent or lease agreement
- NOC from the owner of the property
If the premise is Owned
- Copy of the Electricity bill of the owner
- NOC from the owner of the property
Company Registration Process for OPC Company Companies
Step
Using the RUN application to reserve the OPC Company’s name through Spice PART A form accessible via the MCA portal.
Step
Choosing a memorable name for the OPC Company. Look up the name of the OPC Company.
Step
It will take MCA 3-4 days to approve or reject the name approval request.
Step
If the name is approved, the MCA will send us a name permission letter, and we must register the firm within 20 days.
Step
To extend the grace period before the 20-day grace period expires, an additional fee must be paid.
Step
Obtaining the DSC and DIN of the company’s directors will incur additional costs.
Step
Using SPICE PART B, draught the company’s MOA and AOA electronically.
Step
Submitting an online application for the formation of an OPC Company.
Step
The application will be evaluated by the Ministry of Corporate Affairs.
Step
If a company is formed, the MCA will issue a Certificate of Incorporation, PAN, and TAN.
Benefits Of One Person Company Incorporation
- Limited Liability Protection to Director’s Personal Assets
- Better image and credibility in the Market
- Easy to raise funds and loans
- Helps for Testing of Business Model and Enables Funding
- Complete Control of the Company with a Single Owner
- Easy to Sell OPC
- Reduce compliance as compared to other corporate forms of operation
Checklist /Minimum requirement for One Person Company Incorporation
- Minimum 1 Shareholder
- Minimum 1 Directors
- Minimum 1 Nominee
- The directors and shareholders can be the same person
- Only Indian residents can be Shareholder & Nominee
- Minimum 1 Director must be an Indian Resident
- Minimum Authorised Share Capital to be Rs. 1 Lac
- DIN (Director Identification Number) for all Directors
- DSC (Digital Signature Certificate) for 1 Promoters & 1 witness