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Why One Person Company?

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One Person Company (OPC) Registration. The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity.


Reasons to Incorporate One person Company:
  • A Type of Private Limited Company.
  • Easily Setup and recommend to Growing Startups.
  • Limited liability & Less legal restrictions.
  • Only One Director Required
  • Only One Shareholder Required (a person can become shareholder of an OPC and Nominee of another OPC)
  • Exemption from vrious compliances of Companies Act
  • Private Investment
  • Continuity of existence
  • High Borrowing Capacity : Banks gives preference to private limited company.
  • Separate Legal Identity
  • Easy Share Transferability
  • Easy to sell business for a company than any other business form
  • Capacity to & be sue
  • Corporate governance
Disadvantage of One Person Company:
  • One Director must be a Indian Resident.
  • Statutory Compliance are high.
  • Costing is high as compare to LLP/Firms.
Documents require for registration:
  • ID Proof and Address Proof for all Directors:
    1. ID Proof (*PAN Card Mandatory) of all Drectors
    2. Aadhar Card | Voter Id | Passport | Driving License anyone of all Directors.
  • Registered office address proof (Only for Communication Purpose)
    1. Latest utility bill (Electric bill/Telephone bill/Gas Bill) or latest tax receipt/ownership deep of the property to be used for registered office.(*not older than 2 months)
    2. NOC from owner to utilize he premisethe pemise as registered office of company

Steps to be taken :
  1. Obtain Digital Signature Certificate [DSC] for the proposed Director(s).
  2. Obtain Director Identification Number [DIN] for the proposed director(s).
  3. Select suitable Company Name, and make an application to the Ministry of Corporate Office for availability of name.
  4. Draft Memorandum of Association and Articles of Association [MOA & AOA].
  5. Sign and file various documents including MOA & AOA with the Registrar of Companies electronically.
  6. Payment of Requisite fee to Ministry of Corporate Affairs and also Stamp Duty.
  7. Scrutiny of documents at Registrar of Companies [ROC].
  8. Receipt of Certificate of Registration/Incorporation from ROC.
Time Period to Incorporate a One Person Company ?

A One Person Company registration can be completed in 30-60 days. The time taken for registration depends on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, it is recommended to choose a unique name for your Company and ensure that you have all the required documents prior to starting the registration process.


FAQ Series on One Person Company Registration


1. Can i Register a One Person Company on my Home Address ?

Yes, you can register your company at your residential address. there is no issue, you need only the utility bill copy of the same.


2. How many days takes to register a One Person Company?

Its take minimum 30 to 60 days avg. to register a One Person Company in India.


3. How much cost for the One Person Company?

Its cost nearby 14999/- INR except in some state like Punjab, Kerala and MP State due to Stamp Duty.


4. What is meant by the authorised capital in case of One Person Company i.e is 1 lakh rupees ?

It's a just a maximum share value which you can issued in your company so its not mean that you have to invest the 1 lakh rupees. you can start your own private limited company with any amount of capital.


5. GST Registration is required for One Person Company?

GST Registration is optional till the 20 lakh rupees turnover and for north east state 10 lakh rupees turnover. it's a complete separate registration apart from One Person Company