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What is one person company in India?

The One Person Company (OPC) was recently enacted as a strong improvement over the sole proprietorship. According to Section 2(62) of the Companies Act, 2013 OPC means Company which Has only One Person as a member. It gives a single promoter full control over the company while limiting his/her liability up to contributions to the business.

One of the biggest advantages of a One Person Company (OPC) is that there can be only one member in a OPC, while a minimum of two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (OPC).

Every One Person Company (OPC) must nominate a nominee Director in the MOA and AOA of the company - who will become the owner of the OPC in case the sole Director is disabled.

Register one person company in india

Why should you form One person company?



Who cannot own OPC?

1. The person who is already member of nominee of one OPC cannot incorporate
more than one OPC or become nominee in more than one such Company.
2. No minor can become member or nominee of OPC.
3. OPC cannot get converted into Section 8 Company.
4. OPC cannot carry out NBFC activities.


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"If you are not satisfied for any reason, we will refund your money minus the Government fees. No questions asked"


Business Package

All-inclusive fees

✓ One person company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates and company kit.

Executive Package

All-inclusive fees

✓ One person company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates, company kit and Logo Designing.

Premium Package

All-inclusive fees

✓ One person company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates, company kit, Logo Designing and Trademark registration.

How to establish OPC?

It usually takes 10-15 days to register an OPC through INC 29 (A single application for Reservation of Name, Incorporation of Company and Allotment of DIN), subject to ROC processing time.

OBTAINING DSC & DIN


Get Digital Signature Certificate (DSC) and Director Identification number (DIN) of all Designated Partner within 5 to 7 days.


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NAME APPROVAL


Suggest at least Six OPC name. We will do search for name availability. Apply to ROC for name approval with adding word OPC.



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CERTIFICATE OF INCORPORATION

Once name is approved by ROC File Incorporation document with ROC like MOA, AOA Consent, Affidavit declaration of director, Consent of Nominee Director.


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OPC INCORPORATION

Once Incorporation form is approved by ROC, ROC shall issue Certificate of Incorporation.




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What are the documents required to form OPC?

"Scanned Copy of the Following Documents has to be Provided by the Promoters of the Company"


Requirement to Apply for DSC

  • Pan Card Self-attested
  • Residential Proof Self Attested
  • Dully fill and sign DSC application form


Requirement to Apply for Name Availability

  • Six Proposed name with significance of Name
  • Minimum Contribution
  • Jurisdiction of Registrar of Companies
  • Main Object to be pursued by OPC


Time Period

  • Time Required for Incorporation of OPC Company Shall be 15-20 days, depending on government approval.

Requirement to Apply for DSC

  • Photograph of the Applicant - To be Self-attested.
  • PAN - To be Self-attested
  • Mobile No. and Email-Id
  • Educational Qualification
  • Occupation
  • Proof of residence of applicant
  • Address proofs like passport, election (voter identity) card
  • DSC of Individual.


Requirement to Apply for Incorporation of OPC

  • Registered office address of Company.
  • Recent Address proof with NOC from Owner.
  • Consent from Director.
  • Affidavit and declaration from Director.
  • Consent of Nominee Director of OPC.


Have questions? We have answers.


How to inform ROC about change in membership of OPC?
Is there any threshold limits for an OPC to mandatorily get converted into either private or public company?

In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into private or public company.

How to intimate RoC that the OPC has exceeded the threshold limits and require conversion into private or public company?

The OPC shall inform RoC in form INC-5, if the threshold limits is exceeded and is required to be converted into private or public company.

What is the time limit for filing form INC-5?

Form INC-5 shall be filed within sixty days of exceeding threshold limits.

Is there any form that is to be filed for conversion of an OPC into private or public company? Is there any other purpose for filing this form?

Form INC-6 shall be filed by an OPC for conversion of an OPC into private or public company. Yes, the private company will also file form INC-6 for converting itself into an OPC. The paid up share capital of private company should not be exceeding fifty lakh rupees and should not have average annual turnover more than two crore rupees at the time of such conversion into OPC. The company shall be having one member and shall appoint one nominee to act as member in case of death or incapacity of the member at the time of conversion into OPC.

What is the time limit for filing form INC-6?

Form INC-6 shall be filed within 30 days in case of voluntary conversion and within six months of mandatory conversion.

Who is eligible to act as a member of an OPC?

Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC. For the above purpose, the term "resident in India" means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one financial year.

A person can be a member in how many OPCs?

A person can be member in only one OPC.

What if a member of an OPC becomes a member in another OPC by virtue of being a nominee in that other OPC?

Where a natural person, being member in One Person Company becomes a member in another OPC by virtue of his being a nominee in that OPC, then such person shall meet the eligibility criteria of being a member in only one OPC within a period of one hundred and eighty days, i.e., he/she shall withdraw his membership from either of the OPCs within one hundred and eighty days.

Which form is to be filed in case of withdrawal of consent by the nominee of an OPC or in case of intimation of change in nominee by the member?

Form INC-4 shall be filed in case of withdrawal of consent by the nominee or in case of intimation of change in nominee by the member.

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