One Person Company Registration

Meaning of One Person Company (OPC) It is a special form of a company in which the whole business is controlled by one person. This permits the company to have only one director, and one member. Because only one person owns it, OPC administration is easy and direct.

If you are an entrepreneur aspiring to start your own business to stand on your own, incorporating an OPC in India is one of the ideal options.

According to Section 3, Sub-Section 62 of the Companies Act, 2013, an OPC is one in which there is only one member. Unlike a private limited company, you don’t need two directors to form it. However, an OPC offers the same level of Limited Liability Protection as a Private Limited Company, which protects your personal assets.

To register, it’s a 4-step procedure: Apply for DSC & DIN, Reserve name of the company, Collect required documents and Fill the application on MCA website. You OPC is officially registered after your OPC is approved.

Types of OPC You Can Form

Types of OPC According to the Companies Act 2013, there are 5 kinds of OPCs:

1. OPC Limited by Shares
2. OPC Company Limited by Guarantee with Share Capital
3. OPC Guarantee without Share Capital – Limited by Guarantee, Private)
4. Unlimited OPC with Share Capital
5. Unlimited OPC without Share Capital

Advantages of One Person Company Registration

Once you register a One Person Company online in India, you can enjoy the following benefits:

1. Separate Legal Entity

For legal purposes, an OPC is another legal delicacy. If the company incurs losses, this also means that your personal assets aren’t at risk. Creditors can sue the company, but not you personally.

2. Fewer Compliances

OPCs have fewer legal requirements. No need to produce a cash flow statement or employ a company secretary. The balance sheet can be signed annually by the director only.

3. Easy Incorporation

Click to go directly to making an OPC. Article 194 A Member and a Director may be one person only. The minimum authorized capital needed is ₹1 lakh, but there is no minimum paid-up capital requirement.

4. Simple Management

And being a one-member entity, the decision making is quick and no hassle. A single signatory is needed to pass both ordinary and special resolutions without delay and avoiding conflicts.

5. Perpetual Succession

Despite the fact that there is only one person, the business still exists after they have passed away. A nominee is nominated at incorporation who’s role will take over if the member fails to continue.

Eligibility Criteria for OPC Registration

Here are the requirements to register an OPC in India.

1. An OPC can only be incorporated by an Indian citizen and resident natural person who is a nominee member of a company.
2. OPC cannot be opened in the name of a minor.
3. The individual should have been in India for more than 182 days in the previous year.
4. Members are limited to one, and one nominee to succeed, if necessary.

Compliances for One Person Company

1. The company is bound to comply annually or be fined.
2. Violation could result in penalties, legal action, or probes.
3. Reliable financial statements communicate the truth and inspire trust in all who rely on a stake in the organisation.
4. Compliance is important to keep your company’s reputation and credibility intact.
5. Documents Required for OPC Registration
6. For Director/Nominee
7. PAN Card
8. Proof of Identity (Voter ID, Passport, Driving License)
9. Proof of Address (Bank Statement, Mobile Bill, Telephone Bill, Electricity Bill)
10. Passport-size Photo

For Registered Office

1. Proof of Address (Electricity Bill, Gas Bill, Mobile Bill)
2. Possession Proof + NOC from owner of the property

Other Documents

1. Memorandum of Association (MoA)
2. Articles of Association (AoA)
3. Proof of registered office
4. Director’s Consent Form INC-9 and DIR-2
5. Professional’s declaration of compliance

Process to Register an OPC

1 – Get DSC for Aadhaar, PAN, photograph, email and mobile.

2 – Obtain DIN (Director Identification Number) by filing SPICe+ Form.

3 – Get a distinct company name reserved through SPICe+ application.

4 – Prepare all required documents.

5 – Upload SPICe+ form with MoA, AoA, DIN, DSC on the MCA portal.

6 – PAN and TAN are generated immediately upon approval.

7 – Upon approval, the Registrar provides a Certificate of Incorporation.

Our Help on One Person Company Registration

At GarudaMudra, we offer full assistance on OPC registration. Our services include:

1. Name availability search
2. Getting DSC and DIN
3. Drafting MoA and AoA
4. Filing applications with MCA
5. Regular follow-ups till the time registration is assumed

With our professional assistance, you will begin your OPC easily and make your business dream come true.