One Person Company Registration

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ABOUT

What is a one person company?

One person company (OPC) is a new form of business introduced by Companies Act, 2013. It is hybrid form of business where a sole proprietorship concern can get a corporate outlook.

An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder. Thus, it does away with the hassles of finding the right kind of co-partner/s for starting a business as registered entity. The best part is, legal and financial liability is limited to the Company and not the member.
how it work

Three Simple Step To Start Working Process

Only One Shareholder

Only a natural person, who is an Indian citizen and resident in India shall be eligible to incorporate a One Person Company.

Number of Directors

Must have a minimum of One Director, the Sole Shareholder can himself be the Sole Director. The Company may have a maximum number of 15 directors.

Paid-up Capital

A one person company can be started with 1 lac. If the paid up capital of the company increase to 50 lacs or more the OPC will become automatically.

Easy Funding

Like a Private company, One Person Company can raise funds through venture capital, financial institutions, angel investors etc. A One Person Company can raise funds thus graduating itself to a private limited company.

Minimum compliances

One Person Company have to face little compliance burden as compared to private limited companies , hence One Person Company can more focus on other functional and core areas.

Complete Control Of The Company With The Single Owner

This leads to fast decision making and execution. Yet he/she can appoint as many as 15 directors in the OPC for administrative functions, without giving any share to them.

Suitable only for small business

OPC is suitable only for small business. OPC can have maximum Paid up share capital of Rs.50Lakhs or Turnover of Rs.2 Crores. Otherwise OPC need to be converted into Private Ltd Company.

Facts

Our Advantages

Single shareholder

A single shareholder who can also be the sole director can start an OPC.

Separate Legal Identity

OPC gets the status of a separate legal entity.

Fewer rules and compliances

OPC has to comply with fewer rules and regulations when compared to other forms of companies.

Limited liability

The sole shareholder gets to enjoy the limited liability feature of a company.

No minimum capital required

No minimum capital is required to start an OPC.


What is the

Documents required

What are the Documents required
for Incorporation of OPC?

  • PAN card and Residence Proof of directors of the company
  • Copy of Rental Agreement / EB Card Copy of Registerd Office
  • Copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
  • passport-size photograph
  • Specimen signature (blank document with signature [directors only])
  • Aadhar card [director only]

What Includes in this package?

  • Verification of Documents
  • DSC and DIN for 2 Directors
  • Name approval and ROC feesl
  • Drafting MOA & AOA
  • Following until Certificate is allotted
  • Applying PAN & TAN

What is the Process

for Incorporation of One Person Company?

Applying DIN & DSC

DSC and DIN for all directors are required. Affidavit and declaration by first subscribers and Directors should be prepared

Name Approval

4-6 proposed names should be provided that should be unique and suggestive of company business.

MOA, AOA & AFFIDAVIT

Memorandum and Articles of Assocication should be drafted.

Application to ROC

Sign and file various documents including MOA & AOA with the Registrar of Companies electronically

Company Registered

Once the application is duly filed and accepted by ROC, Certificate of incorporation is issued and the company is all set to start it’s operations.

Frequently Asked Questions (FAQ)

Why Choose Arvian?



Our firm is focused on our clients’ demands for an exceptional legal service model that provides value.
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.

Who is a nominee in the context of OPC?

A nominee is a person who takes over the company in the event of death or incapacity of the promoter.

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.

A person can become a member in how many OPCs?

A person can be member in only one OPC.

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.

What are the requirements with regard to the company's name?

Company’s proposed name should be unique i.e., it should not be identical to any existing name. Names that infringe others’ rights, trademarks or patents are likely to be rejected by ROC

What is Director Identification Number(DIN)?

DIN is a unique identification number which is allotted to all the directors existing or proposed. DIN can be obtained by filing e-form DIN1 in MCA portal.

Who regulate chit funds?

Chit funds in India are governed by the Chit Funds Act, 1982. Under this Act, thechit fund businesses can be registered and regulated only by the respective State Governments. Regulator of chit funds is the Registrar of Chits appointed by respective state governments under Section 61 of Chit Funds Act.

What is Director Identification Number (DIN)?

DIN is a unique identification number which is allotted to all the directors existing or proposed. DIN can be obtained by filing e-form DIN1 in MCA portal.

How many directors can be appointed?

A private limited company must have a minimum of 2 directors while the maximum no. of directors can be upto 15.

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