One-Person Company (OPC)

Key Features & Benefits

  • Simplified Setup
  • Limited Liability
  • Unique Legal Entity
  • Minimal Compliance
  • Future Flexibility
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Registration Process

How We Work

01

Name Approval

Secure your unique company name through the Ministry of Corporate Affairs (MCA).

02

Director's Digital Signature Certificate (DSC)

Obtain DSC for the director(s) to authenticate documents digitally.

03

Registration Documentation

Complete and file the Spice+ form.

04

Incorporation of OPC

Within 30 days of incorporation.

Checklist

Documents Required

KYC Documents:
PAN Card and Aadhaar Card of the director and nominee
ID Proof Passport/Driving License/Voter ID(Any one) of the director and nominee as identity proof
Address proof for the director and nominee (utility bill, bank statement etc. not older than 2 months)
Passport-sized photographs (3) of the director and nominee
Director Documents:
Digital Signature Certificate (DSC) of the proposed director
Director Identification Number (DIN) of the proposed director (or application for DIN)
Consent to Act as Director (Form DIR-2) signed by the director
Nominee Documents:
Appointment of Nominee (Form INC-3)
Consent of the nominee to act as nominee (obtained along with PAN card and Aadhaar card)
Documents related to the OPC itself:
Company Name Approval: You will need to get the proposed name of your OPC approved by the Ministry of Corporate Affairs (MCA).
Memorandum of Association (MOA): This document outlines the company's objectives and powers.
Articles of Association (AOA): This document defines the internal rules and regulations of the company.
Proof of Registered Office: Lease Deed or Rent Agreement for the OPC's registered office premises No Objection Certificate (NOC) from the owner of the registered office property
Declaration and Consent Forms:
Declaration by the proposed director (Form INC-9)
Declaration by the proposed director (Form DIR-2)

What is One Person Company (OPC)?

One Person Company (OPC) is a type of company introduced by the Companies Act, 2013 that allows a single entrepreneur to start and run a company with limited liability. It was introduced to encourage entrepreneurship and make it easier for individuals to start their own business without the need for a partner.

Eligibility for One Person Company (OPC)

Any Indian citizen or resident above the age of 18 can register a One Person Company (OPC). The person must also be a natural person and not a company or LLP. Only one member can be a part of the company, and no other person can become a member or nominee of the company.

Benefits of One Person Company (OPC)

One of the main benefits of One Person Company (OPC) is limited liability protection. The personal assets of the owner are separate from the assets of the company, which means that the owner's personal assets are not at risk in case of any legal disputes or debts incurred by the company.

Another benefit is that it is easier to manage than other types of companies. There is no need for holding annual general meetings, and the compliance requirements are less stringent. This makes it a popular choice for small businesses and startups.

Registration Process for One Person Company (OPC)

The registration process for One Person Company (OPC) is similar to that of a private limited company. The steps involved in the registration process are as follows:

  • Step 1: Obtain Digital Signature Certificate (DSC) and Director Identification Number (DIN)
  • Step 2: Choose a unique name for the company and apply for the name availability
  • Step 3: Prepare the Memorandum of Association (MOA) and Articles of Association (AOA)
  • Step 4: File the incorporation documents with the Registrar of Companies (ROC)
  • Step 5: Obtain the Certificate of Incorporation

One Person Company (OPC) is a great option for entrepreneurs who want to start their own company with limited liability. It is a popular choice for small businesses and startups due to its ease of management and compliance requirements.

FAQ:

An OPC is a business entity that allows a single entrepreneur to own and manage the company, combining the flexibility of a sole proprietorship with the advantages of a private limited company, including limited liability and separate legal identity.
Any Indian resident and citizen over the age of 18 can register an OPC. The proposed director must obtain a Director Identification Number (DIN), and the company must have a nominee.
Yes, there is a minimum paid-up capital requirement of INR 1,00,000 to register an OPC.

Can an OPC be converted into a private limited company?

Yes, an OPC can voluntarily convert into a private limited company after increasing the minimum number of members and directors as per the Companies Act, 2013, and fulfilling certain conditions.
OPCs are required to maintain proper books of accounts, comply with statutory audit requirements, and file annual returns and income tax returns.

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