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One-Person Company (OPC) Registration

Registering a One-Person Company (OPC) is favored among entrepreneurs who desire limited liability and a distinct legal identity. OPC is a unique business structure that permits a single person to function as a company, giving them the benefits of limited liability while retaining complete control. In an OPC, the individual serves as both the director and shareholder, merging the advantages of a sole proprietorship with the legal protection of a private limited company.

At IndiaFilings, we specialize in simplifying the OPC registration process, ensuring that entrepreneurs can smoothly navigate the complexities of legal formalities with reasonable One person company registration fees. Our experienced team is dedicated to assisting you at every step, from document preparation to filing, we offer expert guidance to help you make informed decisions regarding your One Person Company Registration.

Contact us now and take the first step toward building your entrepreneurial dream!

Introduction to One Person Company (OPC)

One Person Company (OPC) registration in India was introduced as a concept under the Companies Act of 2013, enabling a single individual to establish a company and enjoy the combined benefits of both a sole proprietorship and a traditional company structure. This concept became available with the implementation of the Companies Act in 2013.

The primary objective behind creating one-person companies was to foster entrepreneurship and encourage the formalization of Micro, Small, and Medium Enterprises (MSMEs). According to Section 2(62) of the Companies Act 2013, a company can be formed with just one director and one member, and interestingly, these roles can be held by the same individual. Simply, OPC Company registration allows a single person to set up a limited liability company in India. The following describes the eligibility and procedure to register one person company.

Eligibility Criteria

Before you go ahead and engage in OPC registration process, it's crucial to understand the specific eligibility criteria and limitations that govern its formation. The Companies Act sets out clear requirements that must be met to ensure that the individual promoting the OPC is eligible to do so.

  • Natural Person and Indian Citizen: Only a natural person who is an Indian citizen can establish an OPC. Legal entities like companies or LLPs cannot create an OPC.
  • Resident in India: The promoter must be a resident in India, meaning they should have lived in India for at least 182 days during the previous calendar year.
  • Minimum Authorized Capital: The OPC must have a minimum authorized capital of Rs 1 00,000, the amount stated in the company's capital clause during the OPC Company registration.
  • Nominee Appointment: The promoter must appoint a nominee during the OPC's incorporation. This nominee would become a member of the OPC in the event of the promoter's death or incapacity.
  • Restrictions on Certain Businesses: Businesses involved in financial activities such as banking, insurance, or investments are not eligible for OPC company registration.
  • Conversion to Private Limited Company: If the OPC's paid-up share capital exceeds 50 lakhs or its average annual turnover surpasses 2 Crores, it must be converted into a private limited company to comply with the regulatory requirements for larger companies.

It's worth noting that an individual can establish only one OPC, and an OPC cannot have a minor as its member. In the following section, you'll find advantages and disadvantages one will get as a result of OPC registration online.

Advantages of One Person Company (OPC)

Advantages of One Person Company (OPC) include the following:

  • Legal Status: An OPC obtains a separate legal entity status, safeguarding the individual who founded it from personal liability for company losses.
  • Easy Fundraising: Being a private company, OPCs find it easier to raise funds through venture capitalists, angel investors, and banks compared to proprietorship firms.
  • Reduced Compliance: OPCs enjoy certain exemptions from compliance requirements under the Companies Act, 2013, simplifying administrative obligations.
  • Simple Incorporation: OPCs can be established with just one member and one nominee, with the member also serving as the director. No minimum paid-up capital requirement simplifies the incorporation process.
  • Efficient Management: With a single person managing the OPC, decision-making is swift, leading to efficient company management without conflicts or delays.
  • Perpetual Succession: OPCs maintain perpetual succession, ensuring the company's continuity even with only one member.

In conclusion, OPCs offer several advantages, including limited liability, ease of fundraising, reduced compliance, straightforward OPC company registration and management, and perpetual succession.

Disadvantages of OPC

While OPCs offer advantages, there are also limitations:

  • Suitable for Small Businesses: OPCs are primarily suitable for small-scale businesses as they can only have one member. This limits their ability to raise additional capital as the business expands.
  • Restriction on Business Activities: OPCs are restricted from engaging in certain activities, such as non-banking financial investments and charitable objectives. Hence, the companies with these business activities are not eligible for OPC company registration. 
  • Ownership and Management: There's a lack of clear distinction between ownership and management in OPCs, as the sole member can also be the director. This can potentially lead to ethical concerns or conflicts of interest.

Required Documents for OPC Registration Online

Several essential documents must be prepared and submitted to the Registrar of Companies (ROC) as part of the One Person Company registration process:

  • Memorandum of Association (MoA)
  • Articles of Association (AoA)
  • The nominee's consent, along with their PAN card and Aadhaar card, must be submitted via Form INC-3.
  • Proof of Registered Office
  • The proposed director should furnish a declaration in Form INC-9 and their consent in Form DIR-2.
  • A declaration by a qualified professional certifying that all necessary legal compliances have been adhered to.

Keep these required documents ready for OPC company registration.

Registration of One Person Company (OPC) in India

In India, OPC company registration is facilitated through the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) form, which has replaced the previous application forms for company incorporation.

The OPC Registration process consists of two parts:

  • Part A: This initial section of the SPICe+ form is dedicated to securing approval for the desired company name and applying for the Director Identification Number (DIN) or Permanent Account Number (PAN) for the proposed director.
  • Part B: The subsequent segment, known as Part B, involves furnishing incorporation-related details. Here, essential information such as the registered office address of the OPC, details about share capital, particulars of the director, and information about the shareholder is provided.

Here are the steps for an OPC registration online.

Step 1: Obtain a Digital Signature Certificate (DSC)

Secure a Digital Signature Certificate (DSC) for the intended director of the OPC. The DSC is utilized for electronically signing crucial documents.

Step 2: Obtain Director Identification Number (DIN)

Acquire a Director Identification Number (DIN) for the proposed director from the Ministry of Corporate Affairs (MCA).

Step 3: Name Reservation

Apply for name reservation through the MCA portal using Form SPICe+ (Part A). Ensure that the chosen name for your company is distinct and does not resemble any existing company or trademark.

Step 4: Prepare MOA and AOA

Draft the Memorandum of Association (MOA) and Articles of Association (AOA) for your company. These documents define the company's objectives and internal rules.

Step 5: File the Forms

File the necessary forms with the MCA to register One Person Company. Attach the relevant documents to the SPICe+ form, including MOA, AOA, declarations, proof of the registered office, nominee appointment, and other documents as required by the MCA.

Step 6: Certificate of Incorporation

Upon approval by the ROC and verification of compliance requirements, the ROC will issue a Certificate of Incorporation, signifying the successful registration of your One Person Company. Notably, the PAN number (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are generated automatically during the incorporation process, eliminating the need for separate applications.

With this Certificate of Incorporation, your OPC is officially recognized and ready to commence its operations in India.

Why IndiaFilings for OPC Registration Online?

IndiaFilings is the ideal partner for OPC registration online for several compelling reasons. With years of expertise in company registration and a deep understanding of the regulatory landscape, IndiaFilings simplifies the often complex OPC registration process. Our one person company registration fees are designed to be affordable while providing exceptional value, ensuring a seamless experience from start to finish.

We offer expert guidance, from name reservation to document preparation and submission for effortless OPC company registration. Our commitment to accuracy and compliance guarantees that your OPC registration process adheres to all legal requirements, while our dedicated support team is readily available to address any queries or concerns you may have. With our transparent one person company registration fees, you can trust IndiaFilings to deliver reliable and professional service tailored to your needs.

Get started now and embark on your entrepreneurial journey with confidence!

Post-Incorporation Formalities for OPC

Following the successful incorporation of a One Person Company (OPC), specific compliance formalities must be adhered to, akin to those applicable to private limited companies. Our experts are ready to assist you in fulfilling OPC compliance requirements, ensuring that your business remains in full legal compliance.

Check Business Name Availability

Find if business name can be registered with MCA in India

To register a company in India, the first step is to obtain name approval for the business from the Ministry of Corporate Affairs (MCA). This process takes about 24-48 hours. A private limited company name in India must end with the words private limited. One Person Company ends with (OPC) private limited. LLP end with LLP and Section 8 companies can end with words like foundation, association or institution.

A company name proposed to be registered cannot be identical or similar to an existing company name. Also, every company name must include a word that denotes the activity undertaken. For example, in VERVE Financial Services Private Limited - Financial Services denote the activity undertaken. Check Business Name Availability.

Proprietorship vs Limited Liability Partnership (LLP) vs Company

Features Proprietorship Partnership LLP Company
Definition Unregistered type of business entity managed by one single person A formal agreement between two or more parties to manage and operate a business A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. Registered type of entity with limited liability to the owners and shareholders
Ownership
Sole Ownership
Min 2 Partners
Max 50 Partners
Min 2 Shareholders
Max 15 Directors
Max 200 Shareholders

For One Person Company

1 Director
1 Nominee Director
Registration Time 7-9 working days
Promoter Liability Unlimited Liability Limited Liability
Documentation
LLP Deed
Incorporation Certificate
MOA
AOA
Governance - Under Partnership Act LLP Act, 2008 Under Companies Act,2013
Transferability Non Transferable Transferable if registered under ROF Transferable
Compliance Requirements
Income tax filing if turnover is more than Rs.2.5 lakhs

Know More

Documents Required For OPC Registration

PAN Card
Passport
Voters Identity Card

OPC Registration FAQ's

Related Business Registrations

In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.

MCA Compliance

Every registered entity must fulfill its compliance obligations at the end of each financial year. These typically encompass tasks such as auditing financial records, filing income tax returns, and submitting annual forms to the MCA.

Form Company Compliance Due date Penalty
COB Filing Commence of Business Certificate To be filed before 180 days of company Incorporation Rs.50,000 for non-compliance
DIR 3 EKYC Any director with DIN On or Before 30th September every year Deactivation of the DIN A late filing fee of Rs.5,000 Disqualification of the Directors
Form ADT 1 Appointment of auditor Within 15 days from the date of appointment of the Auditor Late fees will be applicable, with fees ranging from 2 to 12 times the nominal fee, depending on the number of days of delay.
Form AOC 4 Filing financial statements of the company 30 days from the conclusion of the AGM Late fees will be applicable, with fees ranging from 2 to 12 times the nominal fee, depending on the number of days of delay.
Form MGT 7 Annual Returns of the Company 60 days from the conclusion of the AGM

In addition to the above filings, depending on the type of entity and business activity more compliance filing maybe applicable. Please check with an IndiaFilings Advisor to help you with the compliance for your company.

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Customer Reviews For OPC Registration

IndiaFilings has over 1 lakh customers and we have completed over 7 lakh services through our platform. At IndiaFilings, we take pride in the services delivered by us and guarantee your satisfaction with our services and support. We constantly improve and strive to deliver the best accounting, financial or secretarial services through the internet.

MOHAMMED ABRAR

OPC Registration
Verified Customer (14 February 2024)
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Very nice polite and good guide

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OPC Registration
Verified Customer (11 February 2024)
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KAVITA SHARMA

OPC Registration
Verified Customer (07 February 2024)
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Good Support From Kavita Sharma to register my company

SANYOGINI SUBHASH MALKAR

OPC Registration
Verified Customer (25 January 2024)
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RAJ SHYAM CHAVAN

OPC Registration
Verified Customer (14 December 2023)
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Very helpful

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OPC Registration
Verified Customer (13 December 2023)
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