One Person Company
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One Person Company
OPC is a private limited company formed by a single person. It is a popular choice for entrepreneurs who want to start their own business but do not want to have to deal with the hassle of forming a partnership or a joint venture.
We can help you register an OPC in 2 weeks for Rs. 4,999. We will take care of all the paperwork and filing, so you can focus on your business.
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PROCESS
Process of OPC Registration
ONE PERSON COMPANY REGISTRATION
Empower Your Entrepreneurial Journey with One Person Company Registration
Efficient OPC Registration
- Embark on your business venture as a single entrepreneur with seamless OPC registration.
- Experience a streamlined application journey for establishing your one-person company.
- Choose the right entity between a Proprietorship Firm and a One Person Company (OPC), both catering to solo entrepreneurs but with different implications.
Required Documentation
- Director's Identification Proof
- Address Proof of the Director
- Proof of the Proposed Company Name
Necessary Preparations
- Prepare the necessary documents and proofs to ensure a smooth registration journey.
- Secure professional certifications required for submission to the MCA portal.
THE PROCESS
Steps to Obtain One Person Company Registration
OPC Registration Procedure
Procedure for New Company Registration
- Upon your request, our experts guide you through the necessary steps for OPC registration.
- We ensure all required documents are gathered meticulously, ensuring a hassle-free experience for you.
- After submission, our advisors are available to address your queries throughout the registration process.
- OPC registration process is typically completed within 10 to 15 working days.
Detailed OPC Registration Steps
- Step 1: Application for Digital Signature Certificate (DSC)
Since OPC incorporation is a fully digital process, obtaining a Digital Signature Certificate is essential. The individual acting as the director and subscriber to the memorandum must apply for a DSC through certified agencies. This straightforward online process can be completed within 24 hours and involves three simple verifications: document, video, and phone. - Step 2: Application for Name Availability
The company name is applied for using the SPICE RUN form, part of the SPICe+ suite. It is crucial to define the company's industrial activity code and object clause during this application. Ensure the name does not resemble any existing company names or violate the laws of emblems and names. Our name search tool is available to help verify name availability efficiently. - Step 3: Filing of SPICe Form (INC-32)
Following name approval, the SPICe+ form is used for the electronic registration of the company. This form includes:- Details of the company
- Information about the member and subscriber
- Application for Director Identification Number (DIN)
- Application for PAN and TAN
- Declarations by director and subscriber
- Certification by a professional
- Step 4: Filing of e-MoA (INC-33) and e-AoA (INC-34)
These linked forms are essential during company registration. The Memorandum of Association (MOA) and Articles of Association (AOA) are crucial documents that outline the company's constitution, powers, objectives, and management rules. - Step 5: Issuance of PAN, TAN & Certificate of Incorporation
Once the Ministry of Corporate Affairs approves the submitted documents, the PAN, TAN, and Certificate of Incorporation are issued. With these, you can open a current bank account, and our team is ready to assist you with this final step.
Finalizing Your Registration
Once your documents are ready, submit them through the MCA portal. From there, the process is designed to be efficient and supportive, with our team assisting every step of the way. This ensures not only compliance but also peace of mind as you establish your one-person business.
BENEFITS
- Limited Personal Liability
Liability is limited only to the extent of paid up capital.
- Easy Transmission of Shares
Ownership transferring is very easy as compared to other form of business.
- Nominal Capital Requirement
There is no as such requirement with respect to paid up capital amount.
- Separate Legal Entity and Perpetual succession
OPC can hold assets in his own name and incur liability in company name.
- Single owner and Director
Single owner and he himself can be appointed as Director in OPC
DOCUMENTS REQUIRED
DOCUMENTS REQUIRED FOR REGISTERING AN OPC
Copy of Pan Card or Owner
Electrcity Bill/Water Bill + No objection certificate
Copy of Rent agreement ( if rented property)
Copy of Aadhar Card/Voter ID card
Passport Size Photograph of Owner
COMPARE RELATED SERVICES
Types of Government Registration
| Managing Your Business | One Person Company | Limited Liability Partnership | Private Limited company |
|---|---|---|---|
| Recommended for | Sole Promoters | Professional Service Firms | Startup and Growing Companies |
| Ease of Accommodating Investment | Possible, but severely unlikely | Possible, but unlikely | Very easy to accommodate |
| Limited Liability Protection | Yes | Yes | Yes |
| Tax Advantages | Few Benefits | Most Benefits | Few Benefits |
| Perpetual Existence | Yes | Yes | Yes |
| Statutory Compliance | High | Low | High |
ONE PERSON COMPANY (OPC) REGISTRATION
Empowering Solo Entrepreneurship
A One Person Company (OPC) is a unique business structure specially designed for solo entrepreneurs. It offers flexibility as well as limited liability protection – making it a very attractive option for a single person to start a business.
At Efilingcompany, we guide you through the entire process of OPC registration, so that your experience is smooth. With our expertise, you can easily comply with legal and regulatory requirements.
Key Features of an OPC:
- Limited Liability Protection
- Separate Legal Entity Status
- Single Shareholder and Director
Understanding the Meaning of an OPC:
An OPC is a type of company where a single individual can be the sole shareholder and director. This structure provides a balance between the ease of a sole proprietorship and the legal protection of a limited liability company.
OPC vs. Sole Proprietorship:
While both cater to single entrepreneurs, OPCs offer distinct advantages. They provide limited liability protection, separate legal entity status, and greater credibility compared to sole proprietorships.
Key Benefits of OPC Registration:
- Limited Liability Protection
- Separate Legal Entity Status
- Ease of Incorporation and Management
- Enhanced Credibility and Market Presence
- Foundation for Business Growth
PACKAGES FOR
Types of One Person Company Registration
STARTER
INR 5999
- Govt. Fee included
- Expert assisted process
- Company name filing in 1 - 2 days
- Digital Signature Certificate (DSC) in a day SPICe+ form filing in 14 days*
- Incorporation Certificate in 7 - 10 days
- Company PAN + TAN included
- Director Identification Number (DIN)
STANDARD
INR 7999
- Govt. Fee included
- Expert assisted process
- Company name filing in 1 - 2 days*
- DSC within a day
- SPICe+ form filing in 7 days
- Incorporation Certificate in 7 - 10 days
- GST registration is included in the service
- Company PAN + TAN included
- Director Identification Number (DIN)
- MSME registration is included in the service
- Digital welcome kit with post-incorporation checklist
PREMIUM
INR 14499
- Govt. Fee included
- Everything in the Standard Package
- MSME registration is included in the service
- Priority support
- GST registration is included in the service
- Business email + website (Optional Add-on)
- Annual compliance advisory (1st year)
- IEC registration is included in the service
- Trademark application filing is included in the service
General frequently asked questions
This setup allows a sole proprietor to do business and still enjoy corporate structure. Being a separate legal entity, the liability is limited to the amount unpaid by the members.
1. Compliance Burden
As OPC has more focus on various functional and core areas, OPC have to face a little burden as compared to private limited companies.
2. Annual Return Filing
One Person Company’s annual return is compulsorily signed by a director. OPC is generally not allowed to receive mandatory requirement of company secretary signature.
3. High Tax Rate
In the case of One Person Company, you are directly charged 30% income tax. The high tax rate is a big disadvantage of one Person Company.
4. OPC included in Name
One Person Company is compulsorily mentioned after the company name in brackets. When you initiate the business with a few shareholders, the administration is not dedicated and you end offering impression to the customers.
5. Not Suitable for Turnover
Experts mostly suggest going for a private limited company than one Person Company when the turnover is a bit high and effective. Setting up OPC, conversion of one Person Company into a private limited company is not believed to be a good decision.
Yes, non-resident Indians (NRIs) can indeed register a One Person Company (OPC) in India. This opportunity arose following a significant update in the Union Budget for the financial year 2021-22.
Key Points to Know:
Eligibility: To become eligible, an individual must have stayed in India for at least 120 days prior to the start of the financial year.
Ease of Business: This move has been aimed at streamlining the process for NRIs, making it more convenient to start and manage a business in India.
Benefits: With an OPC, NRIs can operate with the ease of a sole proprietorship while enjoying the benefits of limited liability and other corporate advantages.
This change reflects India's intent to foster entrepreneurship among its diaspora, providing them with a simpler framework to initiate and run businesses seamlessly.
1.Independent Existence:
2.The One Person Company is considered as a separate legal entity. In the eyes of the law, a company is a person, having a common seal, and perpetual succession. It gets the authority to exercise all the functions of an incorporated person.
3. Limited Liability:
4. Unlike public limited company & private limited company , the concept of limited liability of One Person Company in India implies that the liability of the member is will be up to the extent of his share in the company. In an OPC, one person holds the entire share and has complete authority over the operation of the business. So, it can be elucidated that the liability of the person will be to the extent he has invested in the business.
5. Separate Property:
6. An OPC will have its own separate property as it gains its own identity and functions as a separate legal entity. The OPC will become the owner of its assets, and the members will not have any insurable rights in the assets of the company.
7. Transferability of Shares:
8. OPC has only one shareholder. The issue of transferring a portion of the share does not arise at all because if it is done, the company will cease to be a “one person†company. Transferring all the shares is also not practicable as it’ll change the entire structure of the company as the owner of the company is changing. The issue has not yet been dealt with, and interpretation of the law may provide us with the explanation that in an OPC, transfer of share is not allowed.
9. Tax Flexibility and Savings:
10. OPC make a valid contract with its shareholder or directors. This means as a director you can receive remuneration, as a lessor you can receive rent, as a creditor you can advance money to your own company and earn interest. Directors’ remuneration, rent and interest are a deductible expense which reduce the profitability of the Company and ultimately brings down taxable income of your business.
11.Complete Control of the Company with the Single Owner:
12. OPC is completely controlled and managed by the Single Owner. It leads to quick decision making and execution. The sense of belonging motivates to grow the business further.
A person can be member in only one 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.
Form INC-5 shall be filed within sixty days of exceeding threshold limits.
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.
When 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.
By Filing up form INC4, 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.