Benefits of One Person Company Registration
Separate Legal Existence
A One Person Company (OPC) registered in India obtains the status of a separate legal entity, hence have an own identity rather than of the owner unlike a proprietorship firm. OPC can own assets on its own name and enter in to contract with the parties. The assets and liabilities of the company are independent form the owner which is the main advantage of the One Person Company.
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Lower Compliance
A One Person Company (OPC) has lesser compliance compared to Private Limited Company. Compliances like holding General and Board Meetings are exempted for an OPC. In case of more than one director, Board Meetings are mandatory.
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Limited Liability of Owner
The best part in registering an OPC lies in the separate legal entity of the company where the liability and obligations are not charged over the personal assets of the sole member. The liability of the member is limited to the unpaid amount of capital subscribed by member. Except in certain specified cases, the personal assets of the member are protected even in the case of liquidation.
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Separation of Management and Ownership
The owner can appoint a director owing up to the responsibility to operate and run a company even if the One Person Company is owned by a single person. The operational duties will be assigned to the director/s whereas the member would be able to fetch profits channeling efforts towards other businesses. The shareholder holds complete control over, being a stake holder in a One Person Company,
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Documents Required Registering a One Person Company Online.
- PAN Card PAN card of shareholder, nominee and directors if any
- Identity Proof Aadhaar card/ Voters ID/ Passport/ Driving License or any other valid Identity proof issued by State/Central Governments of Shareholder, Nominee and Directors if any.
- Directors Address Proof Latest telephone bill/ Electricity bill /Bank account statement of Share Holder, Nominee and Directors if any.
- Photograph Latest passport size photograph of Shareholder, Nominee and Directors if any.
- Business Address Proof Latest electricity bill/ Telephone bill of the registered office address.
- NOC from Owner No objection certificate obtained from the owner/s of the registered office.
- Rent Agreement Rent agreement of the registered office if the office is rented.
One Person Company Name Format and Formulation
Build a Unique Identity
Identification plays an important role in making a business outstanding in competitive market, build an unique and distinctive name for your business hence enhance your brand’s trust and value. Consumers should identify activity of your business from the brand name so that they can relate your business with its offerings.
Even though it meets all the above criteria, once again make sure that the brand name to be short, easy to remember and simple to pronounce or spell.
Mention Constitution Type on Your Brand Name
The name of a registered One Person Company must end with (OPC) Private Limited as suffix. (Example: XYZ CONSTRUCTIONS (OPC) PRIVATE LIMITED)
Register Online
Register a One Person Company in 3 easy steps.
- Fill up the Registration Form
Select any packages suits your requirements.
Fill up the form which will take less than 10 minutes.
Make payment through secured payment gateway
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Your queries will be answered quickly and effectively.
Provide details & Share documents required for OPC Registration
Procurement of Digital Signature
Application for OPC Name reservation under SPICe
Documents Drafting including MOA and AOA
Certificate of Incorporation
Application for PAN and TAN
- Your One Person Company (OPC) is incorporated
All it takes 14 – 18 working days*
*Subjected to Government processing time
The Process to Register OPC Online
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Day 1-2
Collection of Basic Information
Collection of required documents (Scanned Copies)
Application for Digital Signature Certificate
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Day 3- 8
Checking availability of Name
Drafting of MOA, AoA & Other required documents
Review and Conformation from Shareholder
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Day 9 – 12
Name Reservation application under SPICe
Filing of Company Registration Application
DIN Allotment application
Application for PAN and TAN of Company
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Day 13 – 18
Your One Person Company (OPC) got registered.
*Subjected to Government Processing time.
Enquiry
FAQ
What are the pre-requisites for One Person Company Registration?
Below mentioned are the pre-requisites to register an OPC in India: 1. The shareholder must be an citizen of India and a permanent resident 2. At least one director is appointed, who shall be an Indian resident 3. A nominee who is above the age of 18 years and Indian resident must be appointed as Nominee on registration 4. A place of business must be provided as the registered office address of OPC.
Who can be the member of One Person Company in India?
Only one person can be the member of One Person Company, who should be a citizen, permanent resident of India of age 18 or more. One person can be member at only one OPC at a time.
Is there any minimum capital requirement to register an OPC in India?
No. The requirement to provide minimum paid-up capital for OPC registration is now removed. The amount required for starting a business must be subscribed while registering OPC. Further, the subscriber must hold at least one share for registration. It is important to note that the minimum amount of INR 1 Lakh must be kept as Authorized Capital.
Who can become a nominee in a One Person Company?
A person, who is an Indian Citizen and a permanent resident of India with age 18 or more, can become a nominee in One Person Company. The nominee must provide his consent to the company for his/her appointment.
Who can be a Director in a One Person Company?
Any person above the age of 18 with any Nationality (Indian or Foreign) can become the director of the company after procuring a Director Identification Number (DIN). The application of DIN allotment is now merged with the application for the formation of a company, subjected to a limit of maximum 3 Directors.
What is Director Identification Number (DIN)?
DIN is a unique number assigned by Ministry of Corporate Affairs to the individuals on application made. This allows a person to be a Director in any companies or Designated Partner in LLP.
What is a Digital Signature and who shall procure it?
Digital Signature Certificate is provided in the form of token issued by Certifying Authorities. Any form filled online for OPC registration in India shall be submitted after affixing DSC of an applicant. Also the Directors will require a DSC for applying DIN. The nominee and Shareholder shall posses DSC for submitting E-forms.
What are Authorized Capital and Paid-up Capital?
Authorized capital shows the maximum amount of capital that a company can rise by way of issuing shares at present or in the future. The Paid-up Capital refers to the actual amount raised by the company i.e. amount paid by shareholders upon issuance of shares. One can register One Person Company in India by any amount of paid-up capital, which can be less than authorized capital but not exceeding such.
Can One Person Company be registered for multiple businesses?
Yes, an OPC can carry multiple businesses if it is mentioned in the MoA of the company and approved by the registrar. The company can mention more than one business which is related and from the same field. Activities which are unrelated such as fashion designing and event management or construction cannot be registered under the same company.
Is it possible to obtain One Person Company Registration at a Residential Place?
Yes. A company can be registered at a commercial place or a residential place by providing necessary proofs. A registered office is a place where communication, if any from Ministry of Corporate Affairs and other concerned authorities will be received and the address will also be displayed at the portal of Ministry.