One Person Company (OPC) in India

One Person Company (OPC) registration is an alternative concept of sole proprietorship firm for taking to step towards limited liability, which is introduced by the Ministry of Corporate Affairs (MCA). One Person Company is totally new concept in the new Companies Act in the year 2013, earlier there was no concept of a one-person Company. The main aim was to promote the individual having the resources to form a company by reducing the complications and challenges faced while the incorporation of a legal entity. It can be said as it is a company that is owned by a single person.

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OVERVIEW

Register a One Person Company (OPC)

One Person Company (OPC) registration is an alternative concept of sole proprietorship firm for taking to step towards limited liability, which is introduced by the Ministry of Corporate Affairs (MCA). One Person Company is totally new concept in the new Companies Act in the year 2013, earlier there was no concept of a one-person Company. The main aim was to promote the individual having the resources to form a company by reducing the complications and challenges faced while the incorporation of a legal entity. It can be said as it is a company that is owned by a single person.
Section 2(63) of Companies Act 2013 defines about the OPC as a one-person company means a company that has just one person as a member.
The Concept of One Person Company has already been introduced by several countries before the enactment of the Companies Act,2013. these included the likes of China, Singapore, UK, Australia, and therefore the USA.

Registration of One Person Company (OPC) is Simple with Vakilkaro

Registration of One Person Company can be easily done with VAKILKARO with legal expertise. It is totally online process, which started with seven one Natural persons, out of them one shall be the member and directors and another shall be the nominee. The Ministry of Corporate Affairs (MCA) has given the power to the Registrar of Companies (ROC) to issue the License of One person Company, which takes 7 days estimated. VAKILKARO has the legal expertise in Registration, Legal Compliance, drafting of related Agreements related to One person Company.

BENEFITS

Advantages of One Person Company (OPC) Registration

To Start One Person Company, only single member is sufficient unlike private limited company.

- One Person Company can use the word “OPC Private Limited” at the end of its name.

One Person Company is a newly updated version of sole proprietorship firm with limited liability features.

One Person Company has less compliance & legal formalities in compare to Private Limited Company.

One Person Company has the special features to register itself under Startup India to get DPIIT Number unlike Sole Proprietorship and Partnership.

REQUIRED DOCUMENTS

Documents required to register a One Person Company

PAN Card

PAN CARD of 1 persons is mandatorily required and in case of foreign national valid passport also requires.

Proof of Identity

Any proof of identity like Adhaar Card/ voter id card/driving license of 1 persons is mandatory required

Company Name

The client has to be provided at least two Company names to apply for name approval.

Photo/Mobile Numbers/ Email IDs/ Bank Statements

persons must have their photos, mobile number, valid emails and latest bank statements (must not be older than 2 months).

Office Address Proof

The client has to provide Office Address proof like Rent Agreement/Property papers with latest electricity bill.

*In case of NRI or Foreign National, documents of director (s) must be notarized.

process

Process to Register a One Person Company in India

Name Approval 1-2 Days

  • Client has to provide at least two names out of which one name will be approved by MCA

Digital Signature:(1-2 days)

  • Second process is to apply and approve the digital signature of 1 members in Single Person Company.

Application filling and approval for certification: (2-3 days)

  • Our experts will file the complete document with drafted copies of MOA and AOA of the company. If there is no objection the certificate of incorporation will be issued by the MCA.

Congratulation!

  • work is done
COMPARE RELATED SERVICES

Compare different business structures to choose the right entity type

  • Registration Required
  • Number of members
  • Legal Entity
  • Liability Protection
  • Statutory Audit
  • Ownership Transferability
  • Uninterrupted Existence
  • Foreign Participation
  • Tax Rates
  • Statutory Compliances
  • Private Limited Company
  • 2 – 200
  • Yes
  • Limited Liability
  • Mandatory
  • Yes
  • Yes
  • Allowed
  • Moderate
  • High
  • get started
  • OPC
  • Only 1 Member
  • Yes
  • Limited Liability
  • Mandatory
  • No
  • Yes
  • Not Allowed
  • Moderate
  • Moderate
  • get started
  • LLP
  • 2 – Unlimited
  • Yes
  • Limited Liability
  • Dependent
  • Yes
  • Yes
  • Allowed
  • High
  • Moderate
  • get started
  • Partnership Firm
  • 2 – 50
  • No
  • Unlimited
  • Not mandatory
  • No
  • No
  • Not Allowed
  • High
  • Low
  • get started
  • Proprietorship Firm
  • Only One
  • No
  • Unlimited
  • Not mandatory
  • No
  • No
  • Not Allowed
  • Low
  • Low
  • get started
FREQUENTLY ASKED QUESTIONS

Explore Single Person Company Registration

Who Can apply for One Person Company (OPC) Registration? can

One Person Company can be registered by any one natural person who is an Indian citizen with one nominee, who shall also be a natural person.

Can OPC use only “Private Limited” instead of “OPC Private Limited”?

No, as per the provisions of Companies Act, 2013 it is not possible.

Can a OPC be Converted in to Private Limited?

The Conversion in to private limited company First is Voluntary and second is Mandatory. Voluntary conversion is only possible when it has expired 2 years from the date of its incorporation and it becomes mandatory when the paid-up share capital exceeds Rs. 50 lakh or the yearly turnover of immediately previous three consecutive financial years is more than 2 Crores rupees.

Who are not eligible to become a member of OPC?

The Following People can not become a member of one person company:-
1. Minors i.e people under the age of 18 are not valid to be a member or a shareholder or even a nominee.
2. Foreign Citizen.
3. Non Resident.
4. Person incapacitated to contracts.

Who are the unique features of OPC?

OPC can registered in the ways of Private Limited Company.
Only one person can be the shareholder in the company.
One Person Company (OPC) may be either a company limited by share or a company limited by guarantee or an unlimited company

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