One Person Company Registration

4.5 out of 5 based on 1200 ratings.

PAY NOW

10,999 9,000

Description
Faq's

How to Start a One Person Company Registration in India

OPC Registration Online

As per Section 2(62) of the Companies Act 2013, OPC Registration simply means all type of business or company which has only one person as a member like incorporated as a private limited company.

OPC Registration has only one person as a shareholder. In India the unique concept of One Person Companywas 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.

Filing Buzz is a well known and fastest growing online company in the field of Company Registration. Filing Buzz provided services like - Private Limited Company, Limited Liability Partnership, Public Ltd Company, Partnership Firm, Proprietorship Firm, and One Person Company Registration in India.

Features of One Person Company (OPC)

1.Only One Shareholder

Only one person, who is an Indian citizen and a person who has stayed in India for a period not less than 82 days during the immediately preceding one calendar year in India shall be capable to incorporate a Person Company.

2. Nominee for the Shareholder

Only a natural person, who is an Indian citizen and resident in India shall be a nominee for the sole member by the shareholder of a Person Company in case of death/incapacity of the original shareholder. Such nominee shall give his/her consent and such consent for being appointed as the Nominee for the sole Shareholder

3. Director

One person company must have a minimum of One Director. The Sole Shareholder can himself be the Sole Director.

Documents Required For OPC Registration

Copy of the owners PAN (Permanent Account Number) Card
Passport-sized photograph of the concerned owner
Copy of the Aadhaar Card or Voter identity card or Driving License of the concerned owner
Copy of the Rent agreement (If in case a rented property)
Electricity Bill or Water Tax Receipt of the Registered Office
Copy of the Property papers or the ownership proof (In the case of an owned property)
No-Objection Certificate from the actual owner

Minimum Requirement of OPC Registration

The minimum requirements that are needed to comply for the registration of a one person company are as follows:

For Incorporating a One Person Company, only a single individual who is both a citizen and resident of India is required. Further, the term Resident of India means that the said person must have lived in India for a time period, not less than 182 days in the previous financial year.
Business Models such as a Company or an LLP cannot join a One Person Company.
The promoter should select a nominee at the time of incorporation.
The minimum authorized capital must be at least Rs 1 Lakh.
An OPC is restricted from functioning a minor as its member.
One thing which is noteworthy to note is that if an OPC surpasses an annual turnover of Rs 2 crore or has the paid-up share capital more than Rs. 50 lakhs, then, in that case, it must be converted into a private limited or a public limited within six months.
There must be at least one nominee and one director.

Procedure for OPC Registration

The steps included in the registration of an OPC are enumerated below:

Obtain DSC and DIN
Reservation of Name
Provisions of Entrenchment
Application for the Registration of a One Person Company
Signing of MOA and AOA
Affidavit of the Director and the Subscriber
Particulars of Subscribers
Declaration by Professionals
Submission of the Forms and Documents
Issuance of the Certificate of Incorporation

Forms Required for OPC Registration

The steps included in the registration of an OPC are enumerated below:

Application for the Company Registration
Digital Signature Form
Declaration of Promoter in the form INC-9
Declaration of the Promoter-Non-Deposit under the FEMA (Foreign Exchange Management Act) and SEBI (Securities Exchange Board of India)
Consent of Director in the form DIR-2
MOA (Memorandum of Association) and AOA (Article of Association) Subscriber Sheet
No-Objection from the actual owner

Our Inclusive Service

One DIN
One DSC (Digital Signature Certificate)
PAN & TAN
ROC Registration Fees
Drafting of MOA & AOA
Name Search & Approval
Company Identification Number (CIN)
MSME Certificate (Optional)
GST Registration Certificate

Benefits of One Person Company

The most important advantage of one person company is Limited Liability Protection To Directors and Shareholder.
One-person companies have Minimum Requirements like a minimum of 1share holder, 1 nominee and 1 director and The director and shareholder can be the same person.
One-Person Companies have been provided with a number of exemptions and therefore OPCS has to face little amount of compliance-related burden.
One-person companies can set up with a minimum of 1 lac INR.
One-person companies have Adequate safeguards In case of death/disability of the sole person should be provided through the appointment of another individual as a nominee director.
The one-person company can easy to get a loan from banks because Banking and financial institutions prefer to lend money to the company rather than proprietary firms.
One Person Company has a separate identity because the owner has a limited Company.
One person company has no requirement to hold annual or Extra-Ordinary General Meetings.

What are the Exemptions available after OPC Registration?

The following listed are the exemptions available after obtaining OPC Registration:

Sign on Annual Returns
Hold Annual General Meetings (AGM) and Board Meetings (BM).
Sign on the Companys Financial Statements.
Option to give out with the requirement of conducting an AGM
Power of the Tribunal to call meetings of its members.
Calling of EGM (Extraordinary General Meeting).
Notice of the meeting.
Statement to be annexed with the notice.
Quorum for meetings.
Chairman of meetings.
Proxies
Restriction on voting rights.
Voting by show of hands.
Voting by electronic means.
Demand for poll.
Postal ballot.
Circulation of the members resolution

Mandatory Annual Compliances for One Person Company

The mandatory annual compliances to be followed by a One Person Company have been listed below:

Minimum 2 Board Meetings are required as per the Companies Act, 2013.
Statutory Audit by a Practising Chartered Accountant.
Appointment of Auditor
Filing of ITR (Income Tax Return)
Annual filings to the ROC (Registrar of Companies)
Maintaining Minutes and Statutory Registers
Form AOC-4 for the financial statement
MGT-7 for an annual return

Timeline for One Person Company Registration

It may take anywhere between 8 to 10 working days for registering a private limited company. This timeline is ahead subject to government processing and approval time.

Why choose FilingBuzz for OPC Registration?

Qualified and Experienced professionals with 6 years of average experience.
Admittance to highly qualified professionals (Chartered Accountant, Company Secretary) anytime, anywhere in India.
No hidden fees Fixed price or long-term commitment.
Our money-back guarantee makes sure that you get complete satisfaction, every time you choose our services 100% satisfaction guaranteed.