Get started with your solo business through OPC Registration in India and enjoy a host of benefits like limited liability, less compliances, better management and a good corporate image.
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One Person Company Registration Process
The definition of a One Person Company is explained in Section 2(62) of the Companies Act, 2013, which states: “One Person Company means a company which has only one person as a member.” To put it simply, an OPC or One Person Company is a business format where a single person owns the company. There can never be more than a single member in such a company at any given time. Additionally, the OPC’s sole owner can also be its director.
However, it isn’t a mandatory requirement and if the OPC owner believes that appointing a separate director would improve management or bring in additional expertise, they may choose to do so. An OPC can have a maximum of 15 directors. Being a single-owner company, an OPC is easy to manage. If you are an entrepreneur who seeks independent success, you can register your business as an OPC by completing the OPC registration online process in India.
Unlike a Private Limited Company, OPC registration does not require a minimum of two directors. However, like a Private Limited Company, One Person Company registration in India provides you with limited liability protection. The process of One Person Company registration in India is fairly simple and requires the completion of just a few steps.
All you need to do is apply for DSC and DIN, then submit the company name for approval, collect all the required documents and file the form on the MCA website. If the authority finds the application and documents correct, the RoC grants your company the status of a One Person Company and provides you with the certificate of incorporation in the OPC’s name.
As per the companies act 2013, there are five types of OPCs you can form:
After the online registration of One Person Company in India, the following benefits can be enjoyed:
An OPC Company is a separate legal entity from its members. This is one of the biggest advantages of one person company registration. The separate legal entity status provides protection to the single individual who incorporates the business.
The liability of the member is limited to their shares and they are not personally liable for any loss of the company. Creditors can sue the OPC but not the member or director, ensuring personal asset protection.
A One Person Company has fewer compliance requirements. There is no need to prepare a cash flow statement, and annual returns and financial statements can be signed by the director without requiring a company secretary.
Incorporating an OPC is simple compared to other company structures. Only one member and nominee are required, and the member can also act as the director. The minimum authorized capital is ₹1 lakh with no minimum paid-up capital requirement.
Since an OPC is managed by a single person, decision-making is quick and efficient. Resolutions can be passed easily without conflicts or delays, making business operations smooth.
OPCs enjoy perpetual succession. A nominee is appointed during incorporation, who takes over the company in case of the member’s death, ensuring business continuity.
1.jpg "Eligibility Criteria for OPC")
Before you can register OPC (One-Person Company), there are some requirements that you need to keep an eye out for. Following are the OPC registration requirements that you need to know:
After successful One Person Company registration, the following compliance requirements need to be fulfilled by the company:
The following are the documents required for One Person Company (OPC) Registration:
Following is the procedure for incorporating a One-Person Company in India:
The first step is to apply for Digital Signature Certificate (DSC) of proposed director. The documents required for this include address proof, Aadhaar Card, PAN Card, photograph, email ID and phone number.
Apply for the name reservation of OPC through SPICe+ Part A. You can propose up to two names. Make sure proposed company names comply with MCA naming requirements.
Complete SPICe+ Part B for the incorporation of the OPC. If the proposed director does not already have a DIN, then the DIN allotment application can be made using SPICe+ Part B.
After that, prepare required OPC incorporation documents like e-MOA (INC-33) and e-AOA (INC-34) along with the other documents/declarations for OPC.
Move forward to submit SPICe+ form and linked forms like e-MOA and e-AOA with required documents and DSC-based signatures on MCA portal. In this step, you must also pay the OPC application fee.
After successful incorporation of one person company, the OPC Certificate of Incorporation is issued by Registrar of Companies. Company's PAN and TAN are also allotted in this step through integrated incorporation process so a separate application is not required for obtaining them.
Once Certificate of Incorporation is issued, the OPC becomes a legally incorporated entity and can finally proceed with post-incorporation compliances and commencement of business.
At Registrationwala, we provide end-to-end solutions for the registration of a One Person Company. Our OPC registration services include:
We are a team of leading business experts in India.Through our OPC incorporation process, your online OPC company registration in Delhi can be started on time, and the dream of your solo company can be realized.
If you want to register a One Person Company in a smooth and hassle free manner, get in touch with Registrationwala as soon as possible!
Following is the procedure for incorporation of a One Person Company in India
The concept of One Person Company was introduced by the Companies Act, 2013. Under the Act, OPC is recognized as a legal entity in India.
An individual can only own one OPC at a time.
Only a natural person who is an Indian citizen and resident in India is eligible to act as an OPC’s member and nominee.
In case of cessation of member of OPC on account of death, incapacity to contract or change in ownership, the company shall file form INC-4. In the same form, the details of the new member of the OPC need to be provided.
An OPC is a single-member company incorporated under the Companies Act, 2013. In contrast, a Private Limited Company, also incorporated under the same Act, requires at least two members for incorporation. This is the most basic difference between them.
OPC is best for a sole owner and offers limited liability protection. So, I decided to register it. I reached out to Registrationwala for help and have no regrets. Happy with their services.
I wanted to start a fashion jewellery business as an OPC. Registrationwala helped me with the registration process. Good experience overall.
Registrationwala is a great company…must say. Within a short time, I became an OPC owner. Their services were excellent and the team was always ready to help whenever I needed them.
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