EASIEST WAY TO REGISTER YOUR ONE PERSON COMPANY
OPC is best suited for Solo entrerprenuer who can have host of corporate benefits and able to exercise total control over the business and provide an upper edge over traditional proprietorship structure.
Register your One Person Company today
(Package start at Rs. 11,999/- all inclusive govt. fees and taxes)
Package is inclusive of
- DIN No. for Sole Director
We will secure DIN no. for One Director with Digital Signatures (DSC)
- Name Approval of OPC
Help you pick the right name of OPC and register with MCA
- MOA and AOA
We will draft legally vetted MOA and AOA Constitution agreement
- Company Registration
Finally, your OPC is incorporated and we shall get the registration Certificate
- OPC PAN and TAN
We will obtain PAN and TAN for your OPC with every incorporation.
What is One Person Company ?
OPC do have some limitations viz. being One person Promoter company, one cannot raise equity by issuing shares to other shareholders. Every OPC must appoint nominate director in the MOA/AOA of Company, who will become owner of OPC if the sole director/shareholder becomes dis-abled or dies. Further, if an OPC hits an average three-year turnover of over Rs. 2 crore or has a paid-up capital of over Rs. 50 lakh, it must be turned into a private limited company or public limited company within six months. Regular compliances of Audited Financial Statements preparation and submission to MCA applies even to OPC.
Name of the One Person company ends with word (OPC) Private Limited. The process of starting up of OPC is same as that of general Private Limited Company. Hence, It is mandatory to have Director Identification Number (DIN), DSC for Director, MOA and AOA to needs to be in place and necessary ROC compliances needs to be adhered by OPC.
OPC structure is advisable for Startups promoted by lone enterprenuers who wishes to retain entire control and best suited during initial phases till it cross the milestone turnovers or capital. OPC is incapable of issuing equity shares to anyone, hence if you’re looking to raise Investment through Private Equity, Angel Investors or offers Employee stock options, Private Limited Company structure is best suited for the same, since OPC cannot accommodate such arrangements.
India Kickstart team possess professional expertise in incorporating all forms of Company, OPC, LLP and manage your business with professional handholding and beyond expectation customer service. We have customized choices of startup friendly packages available to suit every unique business requirements.
Advantage of One Person Company:
With OPC Concept introduction by New Companies Act, 2013, now legally single individual can easily incorporate, own and control Private limited Company in more disciplined way with regulatory governance. Thus, unorganized proprietorship business can be dealt with corporate advantage under OPC model.
As against traditional sole proprietorship business, OPC scores well with corporate identity with Limited liability to Sole promoters. In OPC, promoters are liable to third parties only to the extent of their share contributions, unlike proprietorship where they are personally liable for dues and commitments of business.
OPC is one form of Companies, as an artificial legal person in the eyes of the law, distinct from its Owners. As OPC is separate legal entity, it can enter into contracts, own assets, borrow funds and also can sue or be sued in its own name.
It simply means OPC will continue to exist until legally dissolved, irrespective of death or changes in their members. Ownership of OPC will be passed on to nominee directors and continue to exist even after demise of sole Member. This provides ongoing legal existence to OPC over traditional proprietorship business.
Sole Promoter are the Owners of OPC. In Company structure, one can easily transfer ownership of OPC by share-transfer with amendment in shareholder, directors and nominees. Easy transferability feature makes OPC more flexible business model to choose among startups.
Unlike normal private limited company, OPCs are being exempted from various regulatory compliances by MCA. Like OPC need not conduct Annual general meetings, board meetings, further, there are relaxation in issue of Notices, Quorum, Chairman of meeting, no restriction on voting rights, circulation of members resolution etc. Thus, OPC has to follow lesser compliances than a private limited company which also translate in reduced cost of running business.
How can we help with OPC Incorporation
We can get your OPC registered with complete professional support in estimated 15-20 working days* with following Steps:-
Digital Signatures Certificate (DSC) and Director Identification No. (DIN) will be obtained for the Sole Promoter Director of OPC which takes about 5 to 7 working days time.
Maximum of upto Six Name Choices in the order of preference must be submitted to MCA for Name Reservation of OPC. As per availability and guidelines, MCA approves name of OPC which will be reserved. We will secure your name reservation in 4 working days time.
On name approval, Our team will draft legally vetted Memorandum of Association and Articles Of Association (Constitution document) and submit with MCA along with application for Incorporation and necessary supportings. MCA usually approves incorporation application in about 7 working days, subject to govt. processing time. On approval, Final Registration Certificate for OPC will be issued.
Every company is required to obtain Permanent Account Number (PAN) and Tax Deduction Account Number (TAN). We will make application for obtaining PAN and TAN for Company with Income Tax Department ourselves, but you will need to courier hard copies of the required documents yourself. The PAN and TAN will be couriered to your registered office address in maximum 21 working days.
On receipt of PAN, TAN and Company Registration Certificate, you can open Current Account with any Bank for your Company and begin transacting business.
* Subject to govt. processing time and client documentation time.
FAQ on One Person Company Registration
A : OPC is ideal business form for Solo entrerprenuer which gives benefit of limited liability to business owner against third party and also provides corporate identity. It is better than sole proprietorship in many ways, like OPC continue to exist with nominee directors in the event of death of Sole promoter, while in Proprietorship business closes down in such events. Company structure also proves more trustworthy and credible in the eyes of various stakeholders.
A : Only One person who started the business will be the sole director as well as the shareholder of OPC. Apart from main director, there is a nominee director practically without any execution power and nominee exists only to takeover business in case of death/in-capacity of sole promoter director.
Thus, OPC being single shareholder company has limitations, that it cannot raise funds by way of issue of equity shares to other investors and entrerprenuer needs to bear this in mind while deciding the structure.
A : As per MCA rules, only a natural person who is Indian Citizen and Resident of India is eligible to incorporate an OPC and allowed to be nominee of the sole member of an OPC. Resident of India means a person who has stayed in India for more than 182 days in the preceding financial year.
A: OPC structure is prescribed only for small companies according to MCA and there are restrictions placed on Turnover and capital by the regulator. Thus, if OPC cross annual average turnover of Rs.2 Crore or more in three consecutive years or OPC has a paid-up capital of above Rs.50 Lakhs, it needs to be mandatorily converted into private or public limited company within six months. An OPC is prohibited from issuing shares to any investor (other than sole promoter) or giving any invitations to public to subscribe for the securities of the company.
A: OPC must have minimum authorised capital of Rs.1 Lac, however none of these needs to be actually paid up. In OPC, equity shares will not be allowed to be transferred to anyone else. OPC must inform to the registrar about every contract entered into by the company with the sole member of the company within 15 days time. Apart, routine requirement that all such OPC must maintain books of accounts, comply with statutory audit requirements and submit income tax returns and annual filings with the ROC
A: Cost of running an OPC is marginally lower than Private Limited Company. Compliance cost will be incurred towards maintenance of books of Accounts, Regulatory filings with ROC and Audit by Chartered Accountant.
A: No, an individual can form only one OPC at a time. It even applies to nominee of OPC too.
Documents required for Company Registration
To be submitted by Directors and Shareholders
Copy of PAN Card
Copy of Aadhaar Card/ Voter identity card / Driving License
Landlord NOC (Format will be provided)
Passport size photograph Scanned Copy
Copy of Latest Bank Statement/Telephone or Electricity Bill
Copy of Passport (in case of NRI or Foreign National)
Specimen Signatures (signature on blank document of Directors only)
# For NRI/Foreign Nationals, All the documents must be notorised or apostilled (if in common-wealth country). In case of Resident director, all documents must be self-attested by any one director.
To be submitted for Registered Office (Place of Business)
Scanned Copy of Notorised Rent agreement (If rented property)
Scanned Copy of Landlord NOC (Format will be provided)
Latest Electricity/ Maintenance bill/ Utility Bill/ Latest Bank Statement (Place of Business)
Scanned Copy of Property papers (If owned property)
Why India Kickstart?
About India Kickstart
Just tell us a little bit about your business and you’ll have the incorporation certificate in 20 working days. It’s that simple. In addition to yours, we’ll be handling around 400 requests this month.
We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.
Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we’ll try to ensure that your doubts are cleared before they even arise.