About (OPC) One Person Company
It is governed by the Companies Act, 2013 under the Ministry of Corporate Affairs. OPC Consisting of only one member who is also the director of the company. It is a form of a company where the compliance requirements are lesser than that of a private company.
The liability of shareholder will be limited and it is a separate legal entity
This led to the recognition of a completely new way of starting businesses that accorded flexibility which a company form of entity can offer, while also protecting limited liability that sole proprietorship lacked.
A one-person company means a company with a single shareholder. It can enjoy the benefits of a corporate structure without sharing ownership with others. The following are the features of OPC.
OPC enjoy the following privileges and exemptions under the Companies Act:
They need not have to hold AGM. Their financial statements need not include CFS. A company secretary is not required to sign annual returns; directors can do so.
Provisions relating to independent directors do not apply to them. Relating to meetings and quorum does not apply to them.
They can pay more remuneration to the director than compared to other companies.
One Person Company (OPC) Registration Process
OPC company registration package includes 10 services
Steps Involved:
- Obtain a Digital Signature Certificate (DSC)
- Name Reservation
- Drafting of Spice+
- e-MOA
- e-AOA
- Application for DIN
- PAN Application
- TAN Application
Documents Required
Only Scanned Copies are needed,
ID Proof:
Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving License
Address Proof :
Latest Bank statement/ Utility bill in the name of the director which should not be older than two months
Photo:
Latest passport size photograph
Registered Office Proof:
No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Rental agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)
Our Packages at a Glance
Choose your package
Basic
₹ 10900 /-
(* All Inclusive)- DSC For Director
- e-MOA
- e-AOA
- DIN,
- PAN & TAN
Standard
₹ 18900 /-
(* All Inclusive)Basic Includes
+
- Copy of Share Certificates
- Commencement of Business
- Financial Statement Preparation
- Annual Report & Director Report
- Board Resolution Preparation
- Roc Filing
- Income Tax Return
- 1 Year Compliance Support
Premium
₹ 28000 /-
(* All Inclusive)Standard Includes
+
- 12 Months GST Returns Filing
- MSME Udyam Registration
Register With Us
CA/CS Assisted Service
What do you get?
DSC:
Digital signature for two directors to digitally sign the documents
Memorandum of Association:
Explains the rules and objective of the business
Articles of Association:
Explains the rules and objective of the business
Incorporation Certificate:
Certificate of incorporation to Registerered Email id
Pan Card:
You will receive the Epan card In registered Email ID
TAN:
Tax Deduction and Collection Account Number.
GST Certificate:
GSTIN number and Certificate for your company
FAQs On Private Limited Company
1. How much time is needed to set up a One Person company?
The registration process gets completed when you get a certificate of incorporation(COI) issued by the registrar. The application can processed within 7 TO 10 working days.
2. I already have my DSC and DIN. Will the package value remain the same?
In case, you already have a DSC and DIN, our experts will offer you some concession accordingly on the above package.
3. I have to present physically during this process?
No
4. Is stamp duty payable during incorporation process?
Yes, Stamp duty charges are imposed by the state in which the registered office is proposed to be located. The charges are on MOA, AOA & form INC
These charges are covered under the plan for all the states except certain states Our experts will guide you on additional charges.
5. Is there any qualification to become a director or shareholder in a One Person Company ?
Any individual can become a shareholder in a private limited company. For becoming a director in a company, no professional or educational qualification is required.
6. Who can form One Person Company?
An OPC can be formed only by a natural person who is an Indian citizen and stayed in India for a minimum of 182 days in the immediately previous calendar year.
7. What is the minimum number of Directors required to form an OPC?
Minimum one director is required to incorporate an OPC. Further, the sole member can also become the first director of the Company until the member appoints any other director.
8. What is the minimum capital requirement to start an OPC?
As per the Companies Act, 2013 and Company (Incorporation) Rules these is no minimum capital requirement to incorporate an OPC in India. You can even start an OPC with a capital contribution as low as Rs. 2. However, the maximum capital allowed is Rs. 50 lakh.
9. Who can be a Nominee?
As per Rule 3 of Companies (Incorporation) Rules, 2014 only a natural person who has attained majority and is an Indian citizen and resident of India in the previous calendar year can become a Nominee Director in an OPC.
10. When does a One Person Company require to convert itself mandatory?
A-One Person Company is required to be converted into a Private Limited or Public Limited company when it crosses the threshold limit of paid-up capital of Rs. 50 Lakhs or Average Turnover of Rs. 2 Crores in any year.
