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one person company registration starting business india,

One Person Company Registration

One Person Company is a type of Private Limited Company but with a different structure. It is a company which is owned by a single person but unlike a proprietorship firm, it is a corporate structure.
Company Details
Act Companies Act, 2013
Registration Requirement Mandatory
Number of members Only 1
Separate Legal Entity Yes
Liability Protection Limited
Statutory Audit Mandatory
Ownership Transferability No
Uninterrupted Existence Yes
Foreign Participation Not Allowed
Tax Rates Moderate
Statutory Compliances Moderate

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What is One Person Company?

To understand one person company definition, we first need to get into the identity it creates. A registration provides corporate status and many benefits to the members and directors. In the case of a Private company, at least two members are required which is not the same in the case of OPC. To eliminate this drawback and allow a single person to reap the advantages of One Person Company, this sort of a company structure is introduced through the Companies Act, 2013. One Person Company registration is simplified with online filing and process.

One Person Company feature is such that it has only one shareholder who owns 100% stake of the company. To maintain the character of perpetuity, the appointment of the nominee is compulsory, who will take place of the owner in case of death or his inability. One person company is a type of Private Limited Company.

Benefits of One Person Company Registration

Separate Legal Existence

A One Person Company would obtain the status of a separate legal entity. Such OPC registration ensures that the entity is separate from the owner, unlike a proprietorship firm. OPC can own the assets in its own name and enter into a contract with the parties. The actions of the company are independent of the owner. This is the main benefit of OPC registration.

Lower Compliance Requirements

A Single Person Company is benefited with an exemption to many compliances unlike a private company. Compliances like holding General and Board Meeting, etc. are not applicable to OPC. However, Board Meeting must be held if more than one director is on Board.

Limited Liability of Owners

One of the benefits of registering 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 a member is limited to the unpaid amount of the capital subscribed by the member. Even in the case of liquidation, the personal assets of the member are protected, except in certain specified cases.

Separation of Management and Ownership

Even if the OPC is owned by sole personnel, the owner may appoint a director owing up to the responsibility to operate and run a company. The operational duties are assigned to the director(s) whereas the member would be able to fetch profits channeling efforts towards other businesses. However, in One Person Company, the shareholder holds complete control over being a stakeholder.

Easy Funding

It is a  company is a private company, OPC can raise funds through venture capital, financial institutions, angel investors, etc. An OPC can raise funds thus graduating itself to a private limited company.

Single Owner

You, only the owner helpful in quick decision-making, controlling and managing the business without following any elongated processes and methodologies as adopted in other companies. The sense of belonging inspires me to grow the business further.

Documents Required for Online OPC Registration

PAN Card

PAN Card of shareholders and Directors. Foreign nationals must provide a valid passport.

Identity Proof

Aadhar card and Voter ID/ Passport/ Driving License of Shareholders and Directors.

Director’s Address Proof

Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Shareholders and Directors.

Photograph

Latest Passport size photograph of Shareholders and Directors.

Business Address Proof

Latest Electricity Bill/ Telephone Bill of the registered office address

NOC from owner

No Objection Certificate to be obtained from the owner(s) of registered office

Rent Agreement

Rent Agreement of the registered office should be provided if any

Nominee Details

Aadhar, PAN, Bank Statement of Nominee 

Process Flow

Register a Company in 3 Easy Steps

1. Answer Quick Questions

  • Pick a Package that best fits your requirements
  • Nearly 10 minutes to fill in our Questionnaire
  • Provide basic details & documents required for registration
  • Make payment through secured payment gateways

2. Experts are Here to Help

  • Assigned Relationship Manager to help you with OPC registration.
  • Procurement of Digital Signatures (DSC)
  • Application for OPC Name Reservation under SPICe
  • Documents drafting including MOA and AOA
  • Certificate of Incorporation
  • Application for PAN and TAN

3. Your OPC is Registered

  • All it takes is 12 – 15 working days*

Process to register OPC online

Day 1 - 2

  • Review of documents and information provided
  • Application for Digital Signature Certificate

Day 3 - 6

  • Checking Name availability
  • Drafting of MoA, AoA & other required documents

Day 7 - 9

  • Name reservation application under SPICe
  • Filing company registration application
  • DIN allotment application
  • Application for PAN and TAN of company

Day 10 - 12

  • Government processing time

Compare different business structures to choose the right entity type
One Person Company Registration LLP Registration Private Limited Company Sole Proprietorship Firm Registration Partnership Firm Registration Section 8 Company Public Limited Company Registration Nidhi Company Registration
Act Companies Act, 2013 Limited Liability Partnership Act, 2008 Companies Act, 2013 No specified Act Indian Partnership Act, 1932 No specified Act Companies Act, 2013 Companies Act, 2013
Registration Requirement Mandatory Mandatory Mandatory No Optional No Mandatory Mandatory
Number of members Only 1 2 – Unlimited 2 – 200 Only 1 2 – 50 Only 1 Unlimited Unlimited
Separate Legal Entity Yes Yes Yes No No No Yes Yes
Liability Protection Limited Limited Limited Unlimited Unlimited Unlimited Limited Limited
Statutory Audit Mandatory Dependent Mandatory Not mandatory Not mandatory Not mandatory Mandatory Mandatory
Ownership Transferability No Yes Restricted No No No Unrestricted Unrestricted
Uninterrupted Existence Yes Yes Yes No No No Yes Yes
Foreign Participation Not Allowed Allowed Allowed Not Allowed Not Allowed Not Allowed Allowed Allowed
Tax Rates Moderate High Moderate Low High Low Moderate Moderate
Statutory Compliances Moderate Moderate High Less Less Less High High
Explore One Person Company Registration

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