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What is a One Person Company?
A One Person Company (OPC) is a type of business structure that was introduced in India under the Companies Act, 2013. As the name suggests, an OPC is a company that has only one person as its member or shareholder, who can act as both the director and shareholder of the company.
Registering a company is the first step to start a business in India. The One Person Company (OPC) is a new form of company formation, introduced in the Companies Act of 2013.
In OPC, a single promoter gains full authority over the company, he will be the sole shareholder and director (however, a director nominee is present, but has zero power until the real director proves incapable of executing the contract).
An OPC is a hybrid structure, 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.
OPC will give the solo entrepreneur all benefits of a private limited company which means he will have access to credit, bank loans, limited liability, legal protection for business, access to market etc.
However, one needs to note that under an OPC, there can be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC company has a consecutive 3-year average turnover of Rs. 2 crores or more or has acquired a paid-up fund of Rs. 50 lakh and over, then it must be converted to a private limited company or public limited company within six months.
Benefits of Registering a One Person Company
- Separate Legal Existence
- Limited Liability of Shareholders
- Continuous Existence
- No requirement to hold Board Meeting, Annual General or Extraordinary General Meeting
- Less Compliance compared to the requirements of a Pvt. Limited Company
- Easy Fund Raising
- Improves Trust and increases credibility among vendors and lending institutions
Requirements for Registering a One Person Company
- Minimum 1 Shareholder*
- Minimum 1 Director*
- Minimum 1 Nominee
- No minimum capital is required. However, A OPC Company should have minimum authorized share capital of at least Rs. 1 lakh
- The name of the Company should be unique and should not be similar to the any existing company name or trademark.
*Director and Shareholder can be the same person.
Detailed Registration Process
- Application for DSC (Digital Signature Certificate)
- Apply for DIN (Director Identification Number)
- Application filing for Nameavailability
- Drafting and Filing of eMoa and eAoA
- Apply for PAN and TAN of the company
- Certificate of Incorporation issued by RoCalong with PAN and TAN
- Open a Current Bank account on the company name
Deliverables
- DSC & DIN for 1 Director
- Company Name Approval
- MOA + AOA
- Incorporation Certificate
- Company TAN Number
- Bank Account Opening Document Support
Documents Required for One Person Company Registration
Identity & Address Proof
- Copy of Pan Card of Director
- Voter Id card or Driving License or Passport
- Any one of: Bank Statementor Electricity Bill or Mobile Bill (not older than 2 months)
- Passport Size Photograph of Directors
Proof of Registered Office (any one)
- Conveyance/ Lease deed/Rent Agreement etc. along with rent receipts (any one)
- Copy of the utility bills (Telephone/Gas/Electricity bill) (not older than two months) (any one)
- NOC from Landlord
How it works?
Name reservation
We reserve your OPC name through the MCA RUN portal with nominee director details.
Document preparation
Our team prepares MOA, AOA, nominee consent, and all required OPC incorporation documents.
MCA filing
We file SPICe+ form with MCA for your One Person Company registration with all compliances.
Incorporation certificate
Receive your OPC Certificate of Incorporation — start operating as a single-member company.
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Bengalore, Karnataka
The Legal advice I get is straightforward and easy to understand, which is important for me. Using Legitax has taken away a lot of stress when it comes to legal matters. I definitely recommend it to anyone looking for quick and reliable legal help.
Krishnamoorthy B
Chennai, Tamil Nadu
The advocate I connected with on Legitax was incredibly helpful, clearing up many doubts I had. They offered solutions and insights into issues that were affecting my family and me. I've had such a positive experience that I wouldn't hesitate to recommend Legitax to my friends.
Bhavesh Jain
Jaipur, Rajasthan
I was really impressed with the quality of legal advice I received. The lawyer was patient, knowledgeable, and took the time to explain everything in detail. It felt like having a personal legal advisor at my fingertips.
Lata Sharma
Amritsar, Punjab
Very convenient service. I needed urgent legal advice regarding a property dispute and was connected with a qualified lawyer within minutes. The consultation was thorough and the advice was practical and actionable.
Prakesh Ranjan
Patna, Bihar
Excellent platform for legal consultations. The process is seamless and the lawyers are very professional. I got my documents reviewed quickly and the feedback was comprehensive. Highly recommended for anyone needing legal assistance.
Preety Singh
Lucknow, Uttar Pradesh
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Frequently asked questions
No, OPC Registration is a fully online process. As all forms are filed electronically so you don't need to physically travel. You would need to send us scanned copies of all the required documents.
No, foreign nationals cannot incorporate a company under 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.
Digital Signature Certificate is provided in the form of a token issued by Certified Authorities. Any form filed for online company registration in India shall be submitted after affixing the DSC of an Applicant. Also, the directors will require DSC for DIN application and the subscribers to MOA shall possess DSC for submitting e-forms for incorporation.
As per Companies Act, it is mandatory for all the directors of the company to obtain DSC to verify the authenticity of all the documents filled.
No, only an individual can obtain membership or become the nominee in OPC. If a corporate body wants 100% stake of any company, it can register a wholly owned subsidiary.
Yes, one can register a private limited company on their home address in India. You will require to submit a copy of the utility bill the same address alongwith the NOC from the landlord for Private Limited Company Registration.
It is required to convert an OPC into a Private or Public Company when the paid-up capital of the OPC exceeds 50 lakh Rupees, or the Average Annual Turnover during the relevant period exceeds 2 Crore Rupees.
Yes, it is possible to convert an OPC (One Person Company) into a Private Limited Company after its registration.
No, it is not possible for an OPC (One Person Company) to trade shares. OPCs are incorporated as private limited companies with only one member, and the Companies Act, 2013, prohibits private companies from issuing shares to the public or listing their shares on stock exchanges.
No, an OPC does not require renewal every year. An OPC continues its existence until it is closed down officially by its owners.