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One Person Company Registration
Get One-Person Company (OPC) Registration in India with the help of JustStart professionals. Additionally, avail a 360° expert solution and acquire the hassle-free online Single Person Company Registration process.
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OVERVIEW
What is One Person Company?
A One Person Company (OPC) is a kind of privately owned company incorporated under the Companies Act 2013. It can be established by a single individual who can play the role of a director as well as a shareholder of the company.
The concept of OPC was introduced to enable a single individual to incorporate a company. Enjoy OPC registration benefits, such as perpetual succession, a separate legal entity, and limited liability. The core objective behind introducing OPC was to encourage entrepreneurship and uplift the formalization of Micro, Small, and Medium Enterprises (MSMEs).
PROCESS
Process To Register A One Person
Below, we have outlined the detailed process for registering a One Person Company (OPC) to provide clarity:
Get a Digital Signature Certificate (DSC)
A DSC is a digital signature certificate for directors of a company, used for electronically signing crucial documents. Additionally, a DSC is included as a necessary component in the documentary signature process when establishing an OPC company.
Apply for a Director Identification Number (DIN)
DIN stands for Director Identification Number, and it is used to collect the biographical profile of company members who are known as company directors.
Name Approval Application
Submit an application for name reservation via the MCA portal using Form SPICe+ (Part A). However, Make sure the selected name for your company is unique and does not bear resemblance to any existing company or trademark.
Prepare Required Documents
As a one person Entrepreneurship and the sole owner of a company, you are responsible for preparing the necessary company documents. Once these documents are prepared, you can obtain a company name, like "ABC (OPC) Private Limited Company."
Receive Certificate of Incorporation
After following all these steps, you can legally receive the Certificate of Incorporation for your one person private limited company's name.
BENEFITS
Benefits of One Person Company Registration
Registering a one-person company provides an opportunity to obtain the significant benefits of a private limited company by being a solo founder.
Continuous Existence
One Person Company exists continuously regardless of any change in the lifespan of the director. The nominee appointed while doing OPC
Registration Online
Registration online will take over the operations if the death or incapability of the member takes place.
Fewer Compliances
According to the Companies Act 2013, OPC registration needs fewer compliances than a private limited company. Cash Flow Statement & sign of Company Secretary on Accounts books and annual returns are not required. Only the director's signature is required.
Easy Access to Loans
Since OPC is a form of private company, it is easy to obtain funds from banks and financial institutions.
Easy Incorporation
The whole OPC Registration process is online, making it simple, and quicker. It requires only one member and one nominee; the member can also act as director of the company. No minimum paid-up capital is required eliminating individuals’ barriers to starting his/her own company.
Sole Control
The owner of an OPC has full control over the company’s operations and management, which makes decision-making faster and more efficient.
Eligibility For OPC registration in India
Before you proceed to form a One person Company, certain eligibility criteria must be met. Here are the key requirements to know the eligibility with a glance.
Following are the eligibility criteria for OPC registration In India:
- A natural person who is an Indian citizen or an NRI can form an OPC, not a legal entity or a company.
- Indian Citizens who reside in India for at least 182 days during the previous calendar year can register an OPC.
- No minimum capital requirement for One person Company.
- The promoter must appoint the Nominee.
- The person must have attained the age of 18 years old.
- The person must be not disqualified under the Companies Act,2013
- Businesses involved with insurance, banking, or investments cannot establish an OPC.
Required Documents For One Person Company Registration
Identity Proof:
- PAN (Permanent Account Number) Card
- Voter's Identity Card/Passport/Aadhar Card of the Shareholder, Nominee & Director
Address Proof of Director:
- Any latest Utility Bill i.e. Electricity/Telephone Bill/Bank Account Statement of Shareholder, Nominee & Director
Company Address Proof:
- Any Latest Utility bill including Electricity Bill, Telephone/Mobile Bill or Gas Bill
- No Objection Certificate (NOC) from owner of the property
Photograph:
- Latest Passport-size photographs of Shareholder, Nominees & Directors
If you meet above eligibility conditions and can arrange the requisite documents, you are all set to kickstart your entrepreneurial journey.
How much will it cost for OPC registration?
Getting One Person Company (OPC) registration in India with JustStart begins at Rs. 7,999,. Additionally process typically takes around 7-10 working days. If you're running a business and wish to operate it as a single person, OPC registration is essential to get the associated benefits, mainly of a private limited company.
| Steps | Cost (Rs) |
| 2 Digital Signature Certificates | Rs 3,000 |
| Government Fee | Rs 2,000 |
| Professional Fee | Rs 2,999 |
| Total Fee | Rs 7,999 |
Why JustStart For OPC Registration
JustStart offers easy OPC registration with a friendly process at affordable prices compared to other registration providers. Additionally, They provide free consultations with Single Person Company Registration experts. Apart from this, below you will see the reasons why you should chooseJustStart for your OPC registration. Let's check the points below to know more.
- Seamless Process Handling
- Transparent Communication
- Google-verified Business
- End-to-End Support
- Stress-Free Process
- Regulatory Compliance
- Time-Efficient Services
FAQ
LET'S CLEAR ALL THE DOUBTS!
If there is a change in the membership of an OPC, the following steps should be taken to inform the Registrar of Companies (RoC):
- Call Board Meeting: The first step is to call a board meeting of the OPC and pass a resolution for the resignation or removal of the existing member and the appointment of a new member.
- Prepare and File Forms: The OPC should then prepare and file the following forms with the RoC within 30 days of the change:
- Form INC-4: This form should be filed to inform the RoC about the change in membership of the OPC.
- Form DIR-12: This form should be filed to intimate the RoC about the appointment of the new member.
- Update MOA and AOA: If necessary, the MOA and AOA of the OPC should be updated to reflect the change in membership.
- Update Bank Account and Other Registrations: The OPC should also update its bank account and other registrations, such as GST, Income Tax, and others, to reflect the change in membership.
- It is important to note that the OPC should maintain proper records of the board meeting and the resolutions passed, as well as copies of the forms filed with the RoC. Failure to inform the RoC about the change in membership of the OPC can result in penalties and legal consequences.
No, as per the Companies Act, 2013, a person cannot be a member in more than one OPC at the same time. Section 2(62) of the Companies Act defines an OPC as a company that has only one person as a member. Therefore, an individual can form or become a member of only one OPC at a time.
Yes, the process of registering an OPC in India can be completed online through the Ministry of Corporate Affairs (MCA) website or through a team of legal advisors authorised by the government. If you need to get your One Person Company registered online, JustStart might be the best option for you.
As per the provisions of the Companies Act, 2013, a person who is an Indian citizen and a resident of India or a NRI can be appointed as the nominee of the member of a One Person Company (OPC). It is important to note that a nominee can be appointed only at the time of incorporation of the OPC, and the same person cannot be the nominee for more than one OPC.
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