One Person Company (OPC) Registration Online | Finance Bazaar

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Company Registration

One Person Company Registration @ 7999/- ₹

  • Company Name Reservation
  • Director Identification Number
  • Digital Signature Certificate
  • MOA & AOA
  • PAN & TAN
  • Guidance to open local Bank Account
  • Includes Government & Professional Fees
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One Person Company Registration

Under the Companies Act, One Person Company in India was introduced in 2013 to support entrepreneurs who are capable of starting a venture by allowing them to create a single person economic entity. One of the massive advantages of a One Person Company (OPC) is that there can be only one member in a OPC, while a minimum of two members are required for maintaining and incorporating a Limited Liability Partnership (LLP) or a Private Limited Company. A One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate.

Though a One Person Company allows a lone Entrepreneur to operate a corporate entity with limited liability protection, a OPC does have a few limitations. For example, every One Person Company (OPC) must nominate a nominee Director in the MOA and AOA of the company - who will become the owner of the OPC in case the sole Director is disabled. One Person Company must be reconstructed into a Private Limited Company if it crosses an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of every Financial Year like all types of Companies. Therefore, it is important for the Entrepreneur to precisely consider the features of a One Person Company prior to incorporation.

Finance Bazaar is the market leader in company name registration services in India, offering a variety of company registration like one person company registration, private limited company registration, Nidhi Company Registration, Indian Subsidiary registration, Producer Company Registration and Section 8 Company Registration. It takes around 10-15 working days to complete a one person company, subject to government processing time and client document submission. Get a free consultation for business setup and one person company registration in Delhi by scheduling an appointment with an Finance Bazaar Advisor.

What is One Person Company Registration ?

A new approach has been introduced in the Company’s Act 2013, about the One Person Company (OPC). In a Private Limited Company, a minimum of 2 Directors and Members are required whereas in a Public Company, a minimum of 3 Directors and a minimum of 7 members. A single human could not incorporate a Company previously.

But as per Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. It is form of a company where the compliance requirements are lesser than that of a private company.

Members of a company are nothing but subscribers to its, shareholders or memorandum of association. So, an OPC is effectively a company that has only one stockholder as its member.

Such companies are generally created when there is only one founder for the business. Entrepreneurs whose businesses lie in early stages prefer to build OPCs instead of sole proprietorship business because of the several advantages that OPCs offer.

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    Required documents for One Person Company Registration

    ID Proof of Director

    Any one ID proof like AADHAR Card, Voter Card, Driving License or Passport required.

    PAN card of Director
    Any one address proof in name of Director
    • Bank statement having latest 60 days entry
    • Bank Passbook with entries page having latest 60 days entry
    • Electricity Bill in name of Director
    • Airtel / Vodafone / Idea / MTNL / BSNL bill in name of Director
    • Gas bill in name of Director
    Passport size photo of Director
    Any one bill in anybody name for registered office address
    • Electricity Bill
    • Mobile Bill - Airtel / Vodafone / Idea / MTNL / BSNL bill
    • Gas Receipt (not Gas book)

    Difference between OPC and Sole Proprietorships

    A sole proprietorship form of business might seem very identical to one person companies because they both involve a single person owning the business, but there actually exist some differences between them.

    The major difference between the two is the nature of liabilities they carry. Since an OPC is a independent legal entity distinguished from its promoter, it has its own assets and liabilities. The advertiser is not personally liable to repay the debts of the company.

    On the other hand, sole proprietorships and their proprietors are the same individual. So, the law allows sale and attachment of promoter’s own assets in case of non-fulfillment of the business’ liabilities.

    The Impact of OPC in Indian entrepreneur:

    The idea of an OPC is very recent in Indian entrepreneurship and thus very radical, it will take time for such a new concept to be incorporated with complete ability, and when the time will pass, OPC will have a sparkling future and it will be embraced as a most successful business concept. The reason behind it is the incorporation of same is less paper work, one person can form a company without any additional shareholder, and if the member is willing to add stockholders, all he needs to do is to modify the Memorandum of Association and file it before Roc.

    Small entrepreneurs will grow in Indian entrepreneurship, be it weaver, traders, artisans, small to mid level entrepreneurs, OPC is a bright future for them to grow and to get a recognition globally. External financier will be dealing with one representative to build a corporate relationship and not with a score of shareholders/directors where there are more chances for disparity in Ideas, concepts etc for a business to grow.

    Any foreign company who wishes to set up in India through an Investment, through a merger or through a Joint venture will have to just lock the deal with the representative  of an OPC, and the venture will be expected to start sooner with more effective results. In upcoming years the impact of an OPC will be extraordinary and it is a promising future for Indian Entrepreneurship.Hopefully, there will be good Joint Ventures, Foreign Investments, and Mergers etc. An OPC is doing well in United States, In European Countries, Australia the same is resulting in strengthening the economy of the countries.

    In India when the expert committee of Dr. Jamshed Jiji Irani projected the idea of an OPC, it was only aimed for the structured business, with a different legal entity altogether and to organize the private sector of the entrepreneurship, which indeed is expected to be done, along with a compelling growth in Indian Economy benefiting the country on the Global Level.

    5 Steps to Successful One Person Company Registration

    Pay Advance Rs. 1000 and Book Company Name with Government

    The first step is to think of 2 unique names and apply for company name reservation with Ministry of Corporate Affairs. You have to pay Rs. 1000 to Government for booking company name online.

    Email or Whatsapp required Documents to Experts at Finance Bazaar

    It takes 48 hours for name approval. While the name approval is under process, email or whatsapp the required documents with us and we shall analyse these documents. 

    Company Name Approved or Not Approved?

    If company name is approved, then pay the balance fees to us and we shall file the papers with Ministry of Corporate Affairs. If company name is not approved, then we have to re-apply for name with MCA.

    Sign and Email us scanned copies of documents required for registration

    Once the company name is approved, we shall email you few documents for signing. Sign and email us backed scanned copies of these documents. We shall also generate your digital signature. 

    Company Registration Complete within 7 to 10 working days

    Our expert CA will prepare and file the papers. If all papers are complete, we can expect the company registration to be completed in 10 to 15 working days. You will get your Certificate of Incorporation.