One Person Company (OPC) Registration
OPC allows a single owner to enjoy the benefits of a private limited company, such as limited liability, separate legal identity, perpetual existence, and easy access to funding, while still maintaining full control over the business. Unlike a sole proprietorship, OPC provides limited liability protection to its owner, which means the owner's personal assets are not at risk in case of any liabilities or losses incurred by the company.
Easy Process and Documentation
Required Paperwork
- Copy of PAN Card of owner
- Passport size photograph of the owner
- Copy of Aadhaar Card/ Voter identity card
- Copy of Rent agreement (If rented property)
- Electricity/ Water bill (Business Place)
- Copy of Property papers (If owned property)
- Landlord NOC (Format will be provided)
Process, Service Charges, Time duration
- When you send us your paperwork, our experienced staff will review your paperwork with local government officials to determine the service’s cost, feasibility, and completion date. After a quote has been given, it remains fixed. Location affects project duration and cost. Send us your documents and specific requirements to get a price and turnaround estimate.
- On an average Procurement takes four to six weeks.
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WHAT IS ONE PERSON COMPANY?
One-person companies have one member. The promoter has limited responsibility and is a distinct legal entity.
One-person companies (OPCs) in India are for self-starters. One-person companies have one shareholder who is an Indian citizen and resident (stayed in India at least 182 days in the previous year).
In event of death or disability, shareholder nominates another. The 2013 Firms Act encouraged self-employment with one-person companies. You can’t form several companies or be an OPC nominee. OPC rules prohibit non-banking financial institutions.
An affidavit by each memorandum subscriber (members) and first director, if any, that they have not been convicted of any crime related to the creation or management of any business, fraud, or breach of duty to any company in the last five years.
One Person Company in India protects its only shareholder from liabilities.
TIMELINE
Free Consultation and Documentation
Our Expert team resolve your queries. Our consultation is completely free.
Action Required by you
You Need to fill up the draft, Make Payment and Submit Documents to LegalDocs
Action By Legaldocs
Once the Documents are uploaded we’ll start the step -by-step process of Incorporation
Digital Signature Certificate
Action Required by you
You need to share the OTP for e-KYC during DSC
Action By Legaldocs
Once the Documents are uploaded we’ll start the step -by-step process of Incorporation
Director Identification Number
Director Identification number or DIN is allocated to each and every director who has formed company. Without DIN, incorporation is not possible.
Action Required by you
You sit Back and Relax
Action By Legaldocs
We’ll take care of the whole process in swift manner.
Name Approval
Name Approval or Name Reservation is the process to reserve unique name through Submission of RUN form (Reserve Unique Name)
Action Required by you
You need to sit Back and Relax, In case of Rejection in the names given by you, you need to suggest alternate names.
Action By Legaldocs
we’ll take care of End-to-End Name Reservation Process
MOA, AOA and Incorporation
Memorandum of Association, Article of association and incorporation process will be initiated upon successful name reservation.
Action Required by you
Need to Sign few Drafts and affidavits as in when required.
Action By Legaldocs
Once the Name is approved we’ll do the incorporation, MOA and AOA process.
Company Incorporated
Congratulation, your company is incorporated Successfully.
Action Required by you
You can Start your Business, also you can start application for your business bank account.
Action By Legaldocs
We’ll Dispatch the Documents, DSC on your Given Address, Also we’ll for PAN and TAN
DOCUMENTS REQUIRED FOR OPC REGISTRATION
- Director and nominee identification (PAN card)
- Director and candidate identification documents (Aadhar card, Driving Licence, Electricity bill, Passport)
- Address office proof (Rent agreement or sale deed, power bill, property tax receipt)
- NOC from landlord
- DSC and DIN of director
- Passport picture of director
CURRENT ACCOUNT OPENING
Professionals and entrepreneurs use current accounts to manage their businesses. Online Current Account advantages businessmen include:
- Unlimited transactions
- Personalization
- Online banks
Online current accounts save time and enable you bank anywhere.
ENTITY COMPARISON GUIDE
| TYPE | PROPRIETORSHIP | PARTNERSHIP | LLP | PVT | OPC |
|---|---|---|---|---|---|
| Members | Maximum 1 | 2-20 | 2- Unlimited | 2-200 | 1 |
| Legal Status of Entity | Not Considered as separate Legal entity | Not Considered as separate Legal entity | Considered as separate Legal entity | Considered as separate Legal entity | Considered as separate Legal entity |
| Members Liability | Unlimited Liability | Unlimited Liability | Liability of its members is limited | Limited to the extent of share capital | Limited to the extent of share capital |
| Registration | Not Compulsory | Optional/ Can be Registered under partnership Act 1932 | Registered Under MCA | Registered Under MCA | Registered Under MCA and Companies Act 2013 |
| Transferability Option | Not Allowed | Not Allowed | Can Be Transferred | Can Be Transferred | Allowed to only one person |
| Taxation | As in Individual | 30% of Company Profit | 30% of Profit Plus CESS and Surcharges applicable | 30% of Profit Plus CESS and Surcharges applicable | 30% of Profit Plus CESS and Surcharges applicable |
| Annual Filings | Income Tax Returns with the Registrar of companies | Income Tax Returns with the Registrar of companies | Filed with the registrar of the company | Filed with the registrar of the company | Filed with the registrar of the company |
ELIGIBILITY FOR ONE PERSON COMPANY REGISTRATION
- Each individual is limited to forming a single-member corporation just once.
- No minors may be members or candidates.
- Thirdly, an OPC firm is not permitted to engage in Non-Banking Financial Investment activities, such as investing in the securities of another entity.
- Upon reaching a paid up capital of Rs 50 lakh or an average revenue of Rs 2 crores over the preceding three years, an OPC is required to change to a private or public limited company within six months.
ADVANTAGES OF ONE PERSON COMPANY
There is list of features and advantages of OPC Registration in India.
- There is a limit on your legal responsibility.
With an OPC, a company owner’s financial exposure is capped at their initial investment. - Better than Sole Proprietorship:
When the owner of a sole proprietorship dies, the business also ends. The OPC’s nominated director takes over operations, and the company continues to exist. - Simple ownership change:
Changing the shareholding, directorship, and nominee director details of a single-member The - Ability to possess property.
As a separate entity, a corporation has the legal right to own and possess real estate such as offices and warehouses..
WHAT IS INCLUDED IN OUR OPC REGISTRATION PACKAGE?
| 1-Digital Signature Certificate (DSC) | 1-Director Identification Number (DIN) | Company Name Approval By Ministry |
| Memorandum of association (MoA) & | Articles of association(AoA) | OPC Registration Certificate |
| Permanent Account Number (PAN) | Tax Account Number (TAN) |
