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One Person Company

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ONE PERSON COMPANY

One Person Company (OPC) was a new concept introduced in Companies Act 2013.In Private Company minimum number of member required is 2,in Public Company minimum number of members is 7 and in Limited Liability Partnership(LLP)minimum number of partners required is 2. But OPC is totally different as number of member required is 1 only. A single person could not incorporate a Company before OPC was introduced but in OPC only 1 member is required and minimum number of director required is 1. A single shareholder holds 100 percent shareholding.

Only a natural person who is a resident of India and also a citizen of India can form a one person company. In event of death or incapacity of member, nominee will become the member of the company so it is required to appoint a nominee for OPC. An individual cannot have two different one person companies in his name at the same point of time and the said person shall not be a nominee of more than a One Person Company.

OPC has gain its importance in few years because of its benefit of sole member with limited liability and separate legal entity having perpetual succession, which is required to be registered as per the provisions of the Companies Act, 2013. Businesses that require huge capital and have financial risks may prefer to register as OPC. This is because banks and financial institutions prefer to provide funding to OPC rather than a proprietorship firm.

DESCRIPTION OF SERVICE

BASIC
    a) Name Approval
  • The proposed name given by our clients is applied and obtained from the Ministry of Corporate Affairs.
    • b) Incorporation

    Application will be filed with ROC for incorporation of Company with following services also:

  • Apply of PAN- Pan is very essential document from which Company identity can be recognized, and by using Pan you can transact your business easily.
  • Apply of TAN- TAN is mandatory for deducing TDS, without which you cannot deduct TDS.
  • Registration of EPFO/ESIC- Now it is mandatory for any establishment to get registration of EPFO/ESIC.
  • Director Din- Din is an identification number through which they can recognized as director, without din they cannot be a director of a company.
  • Opening of Bank Account- At time of incorporation a current bank account will also be opened without any effort.
  • GST Registration- We also provide our GST registration certificate so that client can do their business smoothly. (To know more about GST, go for our GST Section)
    • c) Commencement of business
  • Form 20A is a declaration filed by the directors after incorporation of the company within 180 days from the date of obtaining Incorporation certificate. Failing which the company cannot start its business.
STANDARD
PREMIUM

DOCUMENT REQUIRED(For both Member and nominee)

  • Identity Proof- PAN (Indian Nationals)
  • Proof of Address- Passport / Driver’s License / Election ID.
  • Proof of residence- Bank Statement / Electricity Bill / Phone Bill.
  • Registered Office Documents-Ownership Agreement/Rent Agreement, NOC,Utility Bill(Not older than 2 months).

BENEFITS

  • Separate Existence-Existence of the Company is not affected by the death or incapacity of member.
  • Sole member-With only one member OPC can be formed.
  • Less Compliance-OPC has been granted several exemption in Companies Act 2013 as compared to other form of company.
  • Loan and Investment-Due to regulatory compliances loan are easily available to OPC.
  • No Annual General Meeting-OPC is not required to hold AGM as other forms of company.

OPC VS PROPRIETORSHIP

OPC
  • OPC is a separate legal entity from its member
  • OPC registration is compulsory
  • OPC can raise funds easily as due to statutory compliance and transparency by which credibility of OPC is high
  • Liability of member of is limited in case of OPC
  • A one person company should mandatorily convert itself to private/public company when threshold limit is crossed
Proprietorship
  • Proprietorship does not have separate entity from its proprietor
  • Proprietorship registration is not compulsory
  • Compared to OPC, there is no such statutory compliance of Proprietorship by which credibility is low
  • In proprietorship liability of proprietor is unlimited
  • A sole proprietorship firm cannot be converted into any other business structure. It shall remain the same irrespective of the revenues earned by it..

FAQS

What is one person company(OPC)?

One Person Company means a company which has only one person as a member.

How many directors are required for OPC?

Minimum one director is required to form an OPC.(Maximum 15).

Can one person be member in 2 OPC?

An individual cannot have two different OPC in his name at the same point of time.

Is opc required to hold annual general meeting?

The provision of holding of Annual General Meeting is not applicable to OPC.

Is audit mandatory for OPC ?

OPC is required to get its books of accounts audited from a Chartered Accountant.

Can minor become nominee of OPC ?

No minor shall become member or nominee of the One Person Company.

Can OPC get itself coverted to private/public Company ?

No such company can convert voluntarily into any kind of company unless two years is expired from the date of incorporation of One Person Company, except threshold limit (paid up share capital) is increased beyond fifty lakh rupees or its average annual turnover during the relevant period exceeds two crore rupees.

How many Board Meeting are required for OPC?

Two Board meeting required. If there is only one Director on OPC Board, any business which is required to be transacted at the Board Meeting of OPC, it shall be sufficient if, the resolution by such one Director is entered in the minutes book and signed and dated by such director.

Choose Your Perfect Packs

  • Basic
  • ₹4,999
  • Includes:

  •  1 DIN for Directors.

      1 Name Approval service.

      Incorporation certificate.

       PAN.

       TAN.

       GST registration.

        ESI & PF Registration.

        Commencement of business certificate.

CONTACT
  • Standard
  • ₹17,999
  • Includes:

  •  1 DIN for Directors.

      1 Name Approval service.

       Incorporation certificate.

        PAN.

        TAN.

         GST registration.

         ESI & PF Registration.

         Commencement of business certificate.

         1 Financial Year Accounting.

         1 Financial year financial statement preparation.

         1 Financial year MCA Annual return filling.

          1 Financial year Income Tax return.

CONTACT
  • Premium
  • ₹23,999
  • Includes:
    • 1 DIN for Directors.
    • 1 Name Approval service.
    • Incorporation certificate.
    • PAN.
    • TAN.
    • GST registration.
    • ESI & PF Registration.
    • Commencement of business certificate.
    • 1 Financial Year Accounting.
    • 1 Financial year financial statement preparation.
    • 1 Financial year MCA Annual return filling.
    • 1 Financial year Income Tax return.
    • 6 month GST return filling.
    • Domain Name.
    • 1 Year web hosting.
    • Udhyam Registration.
CONTACT

*DSC Charges Extra

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