One Person Company Registration
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One Person Company (OPC) Registration - Online Process, Documents Required, Cost
Updated on Feb 11, 2024 10:39:28 AM
What is a One Person Company?
The One Person Company, abbreviated as “OPC,” is a distinctive form of private limited company established under the Companies Act, 2013. Unlike traditional private limited companies requiring a minimum of two directors and members, OPCs can be registered with just one individual serving as both director and shareholder. To signify its single ownership, OPCs typically append “OPC Private Limited” or “OPC Pvt Ltd” to their company name.
Previously, forming a private limited company necessitated at least two directors and members, rendering it inaccessible to single individuals. However, the introduction of OPC under Section 2(62) of the Companies Act, 2013 revolutionized this aspect, enabling single individuals to establish private limited companies.
Benefits of One Person Company Registration
Limited Liability: OPC provides limited liability protection, safeguarding the director’s personal assets from being seized in case of financial issues.
Credibility: Being a private limited company, OPC enjoys higher credibility compared to traditional proprietorship firms. It receives a Certificate of Incorporation, enhancing its credibility.
Continuous Existence: Unlike proprietorships, an OPC continues to exist even in the event of mishaps with the director, as it can be passed on to the nominee director.
Separate Legal Entity: OPC is a distinct legal entity, shielding business owners from personal liability. It can acquire assets and incur debts in its own name.
NRI Registration: Following the Union Budget 2021-22 amendment, NRIs are eligible to register OPCs, provided they have resided in India for a minimum of 120 days preceding the financial year.
Process of One Person Company Registration
Application for DSC
One person company incorporation is a complete digital process and therefore requirement of Digital Signature Certificate is a mandatory criteria. The person who would act as director and subscriber to the memorandum of the company needs to apply for a DSC from the certified agencies. Obtaining a DSC is a complete online process and it can be done within 24 hours. This process involves 3 simple verifications that are document verification, video verification and phone verification.
Application for the name approval
Name application for one person company can be done through SPICe RUN form which is a part of SPICe+ form. While making the name application of the company, industrial activity code as well as object clause of the company has to be defined.
Filing of SPICe Form
Post name approval, details with respect to registration of the company has to be drafted in the SPICe+ form. It is a simplified proforma for incorporating a company electronically. The details in the form are as follows:
- Details of the company
- Details of the member and subscriber
- Application for Director Identification Number (DIN)
- Application for PAN and TAN
- Declaration by director and subscriber
- Declaration & certification by professional
Filing of MOA and AOA
SPICe e-MoA and e-AoA are the linked forms which have to be drafted at the time of application for company registration.
Memorandum of Association (MOA) is defined under section 2(56) of the Companies Act 2013. It is the foundation on which the company is built. It defines the constitution, powers and objects of the company.
The Articles of Association (AOA) is defined under section 2(5) of the Companies Act. It details all the rules and regulations relating to the management of the company.
Issuance of COI
Post approval of the above mentioned documents from the Ministry of Corporate Affairs; PAN, TAN & Certificate of Incorporation will be issued from the concerned department. Now, the company is required to open a current bank account by using these documents. You can contact us for assistance with your current bank account opening.
How much does it cost to register an LLP?
| Steps | Cost (Rs.) |
|---|---|
| Digital Signature Certificate | ₹2,000 |
| Government Fee | ₹1,500 |
| Professional Fee | ₹3,999 |
| Total Cost | ₹7,499 |
Documents required for One Person Company registration
For incorporating your business as a One Person Company, you need to provide proper identity and address proof. The documents are required to be submitted to the Registrar of Companies.
- Passport size photographs
- Copy of Aadhar Card or Voter ID
- Copy of PAN Card
- Copy of Bank Statement (not older than two months)
- Valid address proof of office which can be the latest electricity or any other utility bill.
- If it is a rented office, then No Objection Certificate is required from the owner of the property.
Documents you’ll get after company registration
Following are the documents you’ll receive after registering an LLP in India:
- Certificate of Incorporation
- LLP Agreement
- FiLLip Form
- Form-3
- LLP PAN
- LLP TAN
- Payment Challan
- Company Master data
- DSC and DPIN for designated partners
Explore Our Company Incorporation Packages
Basic
Suitable for Starter
₹ 7,499
Services Offered
Incorporation Certificate
DSC for 2 Directors
DIN for 2 Directors
Stamp Duty Charges
PAN & TAN
Company Master Data
MOA & AOA
EPF Certificate
ESIC Certificate
Premium
Suitable for Businesses
₹ 14,499
Basic +
GST Registration
Auditor Appointment
Commencement of business
Issuance of Share Certificate
MSME Registration
Copies of Business Documents
Pro
Suitable for Corporates
₹ 34,499
Services Offered
Standard +
Trademark Registration
Current Account Opening
Annual Compliances
Udyam Registration
Startup India Registration
Why Taxvilla
On average, it takes around 7-10 working days to register a private limited company in India subject to document verification by MCA.
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Frequently Asked Questions (FAQs)
How can I register a private limited company?
You can easily register your private limited company by arranging all the required documents and fulfilling the requirements as per the Companies Act, 2013.
What are the documents required for private limited company registration?
In order to register your private limited company in India, you need to provide identity and address proof of all the members along with address proof of the registered office.
Note : You don’t need a commercial place for registration, you can use your residential home address for incorporation.
Is GST mandatory for private limited companies?
No, GST is not mandatory for private limited companies.
What is the minimum capital requirement for a private limited company?
There is no minimum capital requirement for private limited company registration. One can start a company with a share capital of as low as ₹10.
Which is better, LLP or Pvt Ltd company?
LLP and Pvt Ltd Company both have their own pros and cons. It completely depends upon the requirement of the business.
Can we convert LLP to a private limited company?
Yes. A Limited Liability Partnership can be converted into a private limited company easily. To read more, refer to this page on
