Why should you form One person company?

1.

Limited Liability Protection To Directors and Shareholder

In case of OPC liability of shareholder is limited to his shareholding. This means any loss or debts which is purely of business nature will not impact, personal savings or wealth of an entrepreneur.


2.

Single Owner

Single owner helpful in quick decision-making, controlling and managing the business without following any elongated processes and methodologies as adopted in other companies. Quick decision making can be done as there is interference of any other person except owner of OPC.
3.

Easy to Get Loan from Banks

Banking and financial institutions prefer to lend money to the company rather than proprietary firms. In most of the situations Banks insist the entrepreneurs to convert their firm into a Private Limited company before sanctioning funds. So it is better to register your startup as a One Person private limited rather than proprietary firm.
4.

Cash Flow Statement Is not required to be prepared

For Public and Private Limited Companies other than OPC and small company is required to be prepared at the end of financial year as financial Statement includes Cash Flow Statement as per Companies Act, 2013.
This mean OPC is not required to prepare Cash Flow Statement.
5.

No Prerequisite to Hold Annual or Extra Ordinary General Meetings

OPC need not to have any physical Annual General Meeting as there is only one shareholder in OPC. Just the resolution might be conveyed by the member from the organization and entered in the minute's book and signed and dated by the member and such date should be considered to be the date of meeting.
6.

Board Meeting

Instead of Holding Meeting Sole member has to enter resolution details in Minutes Book. An One Person Company might lead at least one meeting of the Board of Directors in every six month of a calendar year and the gap between the two meetings shall not be less than ninety days.


7.

Minimum compliances

OPC have to face little compliance burden as compared to private limited companies , hence OPC can more focus on business and other core areas.

8.

Annual Return

Annual Return of OPC has to be signed by director of the company. The mandatory requirement of Company Secretary Signature is not applicable to OPC.
9.

Benefits under Income Tax Law

Any remuneration paid to the director will be allowed as deduction as per income tax law, unlike proprietorship.


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.

SIMPLE & TRANSPARENT PRICING

"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.


Know More

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.


Know More

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.

Know More

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:
1. Pan Card Self-attested
2. Residential Proof Self Attested
3. Dully fill and sign DSC application form

Requirement to Apply for Name Availability:
1. Six Proposed name with significance of Name
2. Minimum Contribution
3. Jurisdiction of Registrar of Companies
4. 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 DIN:
1. Photograph of the Applicant - To be Self-attested.
2. PAN - To be Self-attested
3. Mobile No. and Email-Id
4. Educational Qualification
5. Occupation
6. Proof of residence of applicant
7. Address proofs like passport, election (voter identity) card
8. DSC of Individual.

Requirement to Apply for Incorporation of OPC:
1. Registered office address of Company.
2. Recent Address proof with NOC from Owner.
3. Consent from Director.
4. Affidavit and declaration from Director.
5. Consent of Nominee Director of OPC.

Have questions? We have answers.

  • How to inform ROC about change in membership of OPC?

    The company shall file form INC-4 in case of cessation of member of OPC on account of death, incapacity to contract or change in ownership. In the same form, user needs to provide details of the new member of the 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.

ASK FOR YOUR FREE CONSULTANCY NOW : +91 9172713075