One Person Company

In recent years, the one-person company (OPC) has emerged to refine the sole proprietorship structure.

In an OPC, a single promoter acquires complete control over the company, limiting its accountability for its contributions. As a result, they will be the sole shareholder and directors. One-Person Company is a entity which independent from its promoter.

An OPC must be changed to a private limited company or a public limited company within six months if it achieves an average revenue of 2 crores three times in a row or obtains a paid-up fund of 50 lakh or more.

The Advantages of OPC Registration

Limitation of Liability

In a private limited company, the directors' personal property is always safe, regardless of the company's debts.

Existence indefinitely

When the proprietor dies, the sole proprietorship comes to an end. Since an OPC company has its own legal identity, it would pass to the nominee director and continue to exist.

More trustworthiness

Because an OPC's must be audited every year, it create trusts among vendors and financial institutions.

Process of OPC

Step 1

Obtain all directors' DSCs and DINs.

Step 2.

Submit a request for a name reservation

Step 3.

Fill out the Spice+ form to start your business.

Step 4.

Register your new business with the PAN and TAN.

Step 5.

A certificate of incorporation with a PAN and TAN is issued by ROC.

Documents needed For One Person Company Registration

  • Aadhaar card
  • PAN card
  • Photo
  • Email Id
  • Phone number
Address proof

If Property Owned by Director /Shareholder

  • Sale Deed of Property
  • NOC from the Owner (format given by our company)

If Rented Property

  • Rent Agreement
  • NOC from the Owner (format given by our company)

Any one of the following Documents Require from Below

  • Electricity Bill / Telephone Bill / Mobile Bill

Nominee in Case of OPC

In the event of death, disability, or other unforeseen circumstances, an OPC must name a 'Nominee' who will-

  • Join OPC as a member
  • Be entitled to all of the OPC's shares, and
  • Assume all of OPC's obligations.

Nevertheless, such a Nominee's consent form to act as nominee must be obtained and filed with the ROC along with the MOA and AOA at the time of incorporation.

A Nominee may withdraw his consent by notifying the only member and the OPC in writing. Following 15 days of receiving the notice of withdrawal, the single-member nominates another person as nominee.

The Act allows for the incorporation of various types of OPCs

The Companies Act, 2013 allows for the incorporation of five different types of OPCs.

  • OPC is a limited-by-shares company.
  • OPC is a limited-by-guarantee with a share capital.
  • OPC is a limited-by-guarantee with no share capital.
  • With Share Capital, there is no limit to the number of OPCs you can have.
  • With Share Capital, you can have an unlimited OPC.

What You Will Get From Us

  • Incorporation Certificate.
  • MOA & AOA.
  • Company PAN Card
  • Company TAN/TDS Number
  • PF & ESIC Registration
  • Master File of Incorporation
  • DIN Number of Directors
  • DSC

What is the objective of TaxDraw?

  • We apply for name approval for your one-person company.
  • We prepare the MOA and AOA.
  • We will submit your incorporation documents to the MCA on your behalf. The PAN and TAN are assigned at the same time.
  • We'll continue to follow up on the progress of your OPC Registration.

Plans

Rs.5499 All inclusive price

Starter

  • 2 DSC (2 Years Vailidity)
  • 2 DIN
  • Company Name Approval
  • MCA Filing Fee
  • PAN & TAN Number
  • PF & ESI Registration
  • Expert Support
Rs.5999 All inclusive price

Plus

  • 2 DSC (2 Years Vailidity)
  • 2 DIN
  • Company Name Approval
  • MCA Filing Fee
  • PAN & TAN Number
  • PF & ESI Registration
  • GST Registration
  • Expert Support
Rs. 12499 All inclusive price

Pro

  • 2 DSC (2 Years Vailidity)
  • 2 DIN
  • Company Name Approval
  • MCA Filing Fee
  • PAN & TAN Number
  • PF & ESI Registration
  • GST Registration
  • After Registeration Annual Compliances
  • A. Busniess Comencement Form Submission
  • B. Auditor Appointment
  • C. Director Kyc
  • D. Annual Compliances
  • Expert Support

FAQ's

According to the Ministry of Corporate Affairs' criteria, OPC company registration is only available to Indian residents and only once at a time.

Yes, an OPC is just slightly less expensive than a private limited company.

No, one OPC can be formed at a time by a single person. The nominee in an OPC is also subject to this requirement.

If the OPC's paid-up share capital reaches more than 50 lakh, the OPC must convert itself into a private company.

• If the annual turnover has exceeded two crores for three (3) years.

  • OPC is unable to engage in NBFC-related operations.
  • While OPC cannot buy or invest in securities in other bodies corporate in its name, members can invest in the shares of other corporate bodies.
  • The OPC is unable to issue or assign shares to anybody other than its members.

Yes, at the time of incorporation, you must select a person and have his prior consent in the Form INC-3.