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Register One Person Company (OPC) in India

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Incorporation of OPC in India at  12,999 all inclusive!!

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DOCUMENTS REQUIRED 

Details for Director & Nominee

1. Scanned Copy of PAN Card or Passport

2. Scanned Copy of Voter's ID / Passport / Driving License (Identity Proof)

3. Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Electricity Bill (Address Proof)

4. Scanned passport-sized photograph

5. Specimen signature (blank document with signature [for director only])

Details for Registered Office

1. Scanned Copy of Notarised Rent Agreement (For rented property)

2. Scanned copy of Sale Deed/Property Deed in English (in case of owned property)

3. Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill

4. Scanned Copy of No Objection Certificate from the owner on the name of director (Notarised)

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REGISTRATION PROCESS

1

Director Identification Number & Digital Signatures

2

Selection of Name of the Proposed One Person Company

3

Preparation of Memorandum & Articles of Association

4

Filing of Documents & Receipt of Certificate of Incorporation

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ADVANTAGES

 A One person company is a relatively new concept in India which has been introduced by the companies act 2013. Prior to One Person Company there used be a structure called as the Sole Proprietorship. In order to give a better legal standing to a Sole Proprietorship, the concept of One Person company was introduced. In case of a One Person Company as the name itself suggests only 1 person is required and he/she becomes a director and shareholder. A nominee is also required in the case of One Person Company to cater to circumstances of death, incapacity etc of the Single Director. One Person Company is an exception to Private Limited Company where minimum of 2 directors are required.

1. Limited Liability: In case of a Sole Proprietorship the liability of the proprietor is unlimited and his / her personal assets can be attached however, in the case of One Person Company, since it is a separate entity the personal assets of the Sole Director cannot be attached.

2. Legal Status: One Person Company is a separate legal entity from its Director. It has the capacity to sue and be sued in its own name. It will have its own separate PAN Card, Service Tax Registration Number, TAN, Bank Account etc.

3. Bank Operations: The Banks have always preferred giving loans to Corporate Entities more than Sole Proprietorship as corporate entities have a legal entity and accordingly in case of payment problems the Banks have a better legal standing.

4. Reduced Taxation Burdens: The Companies act, 2013 has given ample powers to One Person Company to run its business as a Company and either enter into valid contract with customers. Thus all the provisions of tax planning applicable for Private Limited Company is also applicable for One Person Company. If proper tax planning is done an OPC can help reduce taxation burden on the assessee. 

5. Reduced Compliance : In comparison to a Private Limited Company, a One Person Company enjoys significant relaxation in Registrar of Companies Compliance. A One person company has relaxed norms for holding board meetings, quorums etc.

RegistrationsIndia.com is providing special services to clients who register one person company in Delhi by helping them get their Bank Accounts opened with our partner Bank.

PROCEDURE INVOLVED

  • Requirement of Digital Signatures : The first and the foremost things require in case of a One Person Company is the Application for Digital Signatures of the Director and the nominee.
  • Requirement of Director Identification Number : The Director needs to apply for a unique number to the Registrar of Companies termed as the Director Identification Number. This number will be used for appointing him / her as the director of the One Person Company.
  • Name reservation: Form INC-1 shall be filed for name availability. Normally 6 names can be given. One needs to check if the same are available with the Ministry of Corporate Affairs and are not fringing someone else's trademark.
  • Incorporate OPC: Forms are filed with digital signatures being attached. This is done alongwith the filing of Memorandum and Articles of Association.
  • Application of Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) : It is now necessary to apply for the PAN and TAN alongwith the Application of incorporation of OPC. 

 Our clients who register one person company in Delhi can avail the benefit of getting their Bank Accounts opened with our partner Banks.

Register One Person Company in India – FAQs

1. How to Change membership of OPC?

The membership of an OPC can be changed on account of death, incapacity to contract or change in ownership. The OPC needs to file relevant form for the same. In the same form, user needs to provide details of the new member of the OPC.

2. What is the Threshold limit to mandatorily get converted into PLC or PC?

In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover exceeds during the relevant period exceeds two crore rupees, then the OPC has to mandatorily convert 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.

3. Who can become a member in OPC??

A resident Indian citizen can be a member of the OPC. Only a natural person 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.

4. Can a member of an OPC become member in other OPC as well??

A person can be member in only one OPC.

5. What is the requirement of having a Nominee in case of a OPC?

A nominee is required in the case of OPC to deal with the situations wherein the director dies, is incapacitated from performing his duties. 

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