One Person Company

One Person Company (OPC) registration is the process of establishing a legal entity that allows a single individual to own and manage a business, providing limited liability and separate legal identity.

    Overview About Service

    With the introduction of the Companies Act, 2013, the One Person Company (OPC) idea was introduced to assist small business owners and prospective entrepreneurs in establishing their own businesses and establishing their own identities. The fundamental advantage of starting an OPC is that only one person is required, providing the business owner complete control. Contrarily, LLPs and private limited corporations both need a minimum of two members in order to be incorporated.

    FilingMan specializes in guiding aspiring entrepreneurs through the seamless process of One Person Company (OPC) registration, offering expert support in documentation, legal formalities, and compliance. With FilingMan's assistance, individuals can establish their OPC with ease, benefiting from limited liability protection and enjoying the advantages of a separate legal entity, ultimately setting the stage for a successful and well-structured solo venture.

    When establishing a One-Person Company (OPC), the business owner needs to be aware of a few factors. In order to transfer ownership in the event of the promoter Director's incapacitation, the OPC must first name a nominee Director in the MOA or AOA. The OPC is also required to produce audited financial accounts to the Ministry of Corporate Affairs at the conclusion of each fiscal year. Consultation with Legal Suvidha Providers might be helpful for the efficient establishment of an OPC in India. It is therefore advisable to carefully analyse these factors before continuing with the incorporation process.

    Only Natural Persons who are Indian Residents may form OPCs; AOPs, Body Corporates, Companies, etc. are not permitted.

    Only one OPC member or nominee is permitted at any given time.

    OPC conversion is required when the paid-up share capital reaches Rs. 50 L or the average annual turnover goes to Rs. 2 Cr. for the three fiscal years prior.

    According to OPC regulations, non-banking financial institutions are not permitted.

    Because an OPC is not a sole proprietorship, the promoter is not personally liable in the case of one.

    Registration Requirements

    OPC registration just requires the presence of one shareholder and one director.

    An Indian national must be the director of an OPC.

    OPCs are not subject to any minimum capital requirements.

    OPCs do not last forever and can only last for a specific amount of time.

    Document Necessary

    The following papers must be submitted in order to register a one-person business:

    Copies of each potential partner's PAN cards that have been self-attested.

    Address proof in the partner's name that is self-attested and accurately matches their PAN card.

    Passports, election cards, voter identity cards, Aadhaar cards, or any other recognised form of identification proof that can be self-attested, in the case of Indian citizens.

    Self-attested utility bills from the company's address that are no more than two months old that serve as ownership proof from the partner.

    For each couple, two current passport-sized photos.

    Two-month worth of bank statements for each director and member.

    These papers are necessary for a One Person Company to be registered successfully.

    Registration Process

    Step 1 : Is to obtain DSC and DIN.

    To start the Private Limited Company registration process, the proposed directors must get a Digital Signature Certificate (DSC) and Director Identification Number (DIN). These are required in order to submit the paperwork for company registration. The process is simple and only requires a few scanned documents and the necessary information, which our staff can assist you with filling out and submitting online. Typically, obtaining the DSC and DIN for the indicated directors takes one to two days.

    Step 2 : Name approval

    In the second round, the Ministry of Corporate Affairs (MCA) must be consulted for approval, and a maximum of six proposed names may be presented. The Name Approval process typically takes 2 to 3 working days, depending on accessibility, naming convention compliance, and MCA processing time.

    Step 3 : The MOA and AOA are electronically drafted in step three.

    Using the Spice MOA (INC-33) and Spice AOA (INC-34) forms, the Memorandum of Association (MOA) and Articles of Association (AOA) are electronically drafted during the third phase. The average time to complete the procedure is two to three days.

    Step 4 : Registering your Business

    The incorporation procedure is carried out by submitting the Spice Form INC-32 to the Ministry of Corporate Affairs (MCA), along with the related forms Spice MOA (INC-33) and Spice AOA (INC-34), after the e-MOA and e-AOA have been written. The MCA typically approves the incorporation request in 5 to 7 days, depending on how quickly they process the paperwork. It's crucial to keep in mind that forms 49A and 49B must always be submitted through SPICe. If these documents are not submitted within two days of submitting SPICe (INC-32) the application for incorporation will be deemed "Invalid" (INC-32).

    OPC Registration Costs

    One Person Company

    ₹ 2,999 / Only

    Plus Government Fees, Stamp Duty Extra.

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      Why Choose FilingMan

      For OPC Registration?

      Selecting FilingMan for your One Person Company (OPC) Registration ensures a smooth and strategic entry into the business world. With a deep understanding of the legal intricacies and procedural requirements, FilingMan simplifies the entire OPC registration process. Their experienced team provides expert guidance, from preparing the necessary documentation to navigating the complexities of compliance, ensuring that you establish your OPC with precision and confidence.

      FilingMan's support goes beyond mere registration; they become your reliable partner in setting up a robust and legally compliant OPC. By choosing FilingMan, you gain access to a comprehensive range of services that streamline the process, enabling you to focus on your business vision. Their expertise not only ensures timely and accurate registration but also positions your OPC to benefit from limited liability protection and a separate legal identity. With FilingMan, you embark on your entrepreneurial journey with a trusted ally that maximizes your chances of success while navigating the legal landscape with efficiency and proficiency.

      Benefits of OPC Registration

      Limited Liability

      OPC offers limited liability protection, ensuring that the personal assets of the owner are separate from the business's liabilities. This safeguards the owner's personal wealth in case of business losses or debts.

      Single Ownership and Control

      OPC allows a single individual to own and manage the company, providing complete control over decision-making and operations, without the need for external shareholders or partners.

      Separate Legal Identity

      Once registered, OPC becomes a distinct legal entity separate from its owner. This facilitates easier business transactions, contracts, and legal matters, enhancing the company's credibility.

      Ease of Formation

      OPC registration process is simpler compared to traditional companies. It requires only one director and one shareholder, reducing administrative complexity.

      Business Continuity

      OPC's existence is not affected by the death or incapacity of its owner. The company can continue its operations with the appointment of a nominee director.

      Access to Funding

      OPCs are eligible to raise funds through venture capital, angel investors, and loans, allowing for business expansion and growth.

      OPC Registration FAQ'S

      How does a One Person Company (OPC) vary from other business models and what does it mean?
      A one-person company (OPC) is a sort of legal structure that enables a single person to run a business with limited liability. OPCs are an appealing choice for lone entrepreneurs since they provide minimal liability protection to the owner, unlike sole proprietorships.
      What are the major benefits of forming a one-person business?
      The opportunity to get different government incentives, restricted responsibility for the sole owner, a separate legal identity for the business, and simplicity of compliance when compared to other company structures are some of the main benefits of OPC.
      What conditions must be met in order to establish and run a One Person Company?
      In order to form an OPC, only one person can serve as both the shareholder and director. A Director Identification Number (DIN) and a Digital Signature Certificate (DSC) must be obtained by the person. An OPC must also continue to adhere to the standards for annual filing and auditing.
      Can a one-person company change into another business structure or have more than one director?
      No, an OPC can only have one director by definition. The OPC must be transformed into a private limited company, though, if its paid-up capital surpasses the allotted maximum or its average turnover exceeds the cutoff. A partnership or other multi-member entity cannot be created out of it.
      What happens if the OPC's sole owner wants to expand the membership or leave the organisation?
      There can only be one member of an OPC. The business must be changed into a private limited company if the owner wants to add new members. The nominee listed in the OPC paperwork assumes ownership and control of the business in the event that the only owner resigns or passes away.