One Person Company Incorporation
Starting At ₹ 999/- (Prof. Fee) + Govt. Fee
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What is One Person Company Incorporation Overview
A new concept has been introduced in the Company’s Act 2013, about the One Person Company (OPC).
Earlier, In a Private 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. This prevented a single person from running a company. But now 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 a form of a company where the compliance requirements are lesser as compared to a private company.
Process for One Person Company Incorporation
Step 1
Check Eligibility & Documents
Step 2
Apply for DSC & DIN
Step 3
File RUN Application for Name Reservation
Step 4
File SPICe+ Form for OPC Incorporation
Step 5
Apply PAN & TAN for OPC
Step 6
Issuance of Certificate of Incorporation
Step 7
Open Bank Account & Start Operations
Step 8
(Different – OPC Specific): Nominee Appointment
Documents Required For One Person Company Incorporation
Identity Proof of Shareholder (Owner)
Photograph
Registered Office Address Proof
Rent Agreement (If Property is Rented)
Ownership Proof (If Property is Owned)
Landlord NOC (If Property is Rented)
Benefits Of One Person Company Incorporation
- Limited Liability Protection to Director’s personal assets
- Better image and credibility in Market
- Easy to raise funds and loans
- Helps for Testing of Business Model and Enables Funding
- Complete Control of the Company with a Single Owner
- Easy to Sell OPC
- Reduce compliance as compared to other corporate forms of operation
Checklist /Minimum requirement for One Person Company Incorporation
- Minimum 1 Shareholder
- Minimum 1 Directors
- Minimum 1 Nominee
- The directors and shareholders can be same person
- Only Indian residents can be Shareholder & Nominee
- Minimum 1 Director must be Indian Resident
- Minimum Authorised Share Capital to be Rs. 1 Lac
- DIN (Director Identification Number) for all Directors
- DSC (Digital Signature Certificate) for 1 Promoters & 1 witness
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