One Person Company

Introduction

Welcome to the world of sole entrepreneurship! A One Person Company (OPC) offers the perfect blend of the individual-driven freedom of a sole proprietorship and the protective features of a corporation. Understand its essence, benefits, and the registration process right here.

WHAT IS A ONE PERSON COMPANY (OPC)?

An OPC is a revolutionary concept that allows a single individual to establish a company, where the individual enjoys the benefits of limited liability. This means the company's finances are separate from the personal finances of its owner.

According to recent data, it is found that 90% of MSMEs are either proprietorship or partnership enterprise. Therefore, it is imperative to strive towards corporatization of small & medium enterprises for good governance and energise the economy as a whole. Taking this vision into mind Central Government introduced the concept of One Person Company (OPC) Registration.

As per Section 2(62) of Companies Act, 2013 One Person Company (OPC) is a company which has only one person as a Member.

Section 3 allows one person to form a company for any lawful business.  Memorandum of Association (MOA) shall indicate the name of the person in its nomination clause who in the event of death or incapacity to contract of sole member become the member of the company.

KEY BENEFITS OF ONE PERSON COMPANY

• Limited Liability: Protect your personal assets. In an OPC, the member's liability is restricted to the unpaid share capital.
• Easy Funding: With a formal corporate structure, it's easier to raise funds by debentures and loans.
• Less Compliance: Compared to private limited companies, OPCs face fewer formalities and regulations.
• Continued Existence: The company's existence isn't affected by changes in ownership.
• Full Control: No need for a partner. Run the show entirely on your terms.
• Single Member- An OPC consist of a single person, who must be an individual and citizen of India whether resident or not.
• Nominee: The sole member of OPC is mandatorily required to appoint a nominee who in the event of death or incapacity to contract of member will become the member of the company.
• Minimum One Director- An OPC shall have minimum one and maximum 15 directors. Even more then 15 directors can be appointed by passing special resolution. 
• No Minimum Paid Up Share Capital- there is no minimum share capital prescribed by the Companies Act, 2013 for registration of OPC.

 DOCUMENTS REQUIRED FOR INCORPORATION OF OPC

• ID PROOFS SUBSCRIBER /DIRECTORS/ NOMINEE-    Self-attested copy of PAN card and Aadhar card 

• ADDRESS PROOF OF SUBSCRIBER/DIRECTORS/NOMINEE-    Self-attested copy of Bank statement or utility bill which should not be older than 2 months

                                                                                                                                                    Self-attested copy of Voter ID/ Passport/ Driving License

• REGISTERED OFFICE ADDRESS PROOF-  Utility bill and No Objection Certificate

                                                                                                           Duly stamped and notarized Rent Agreement or Lease Deed

 OPC REGISTRATION PROCESS

• Digital Signature Certificate (DSC): Obtain a DSC for the proposed Director.
• Director Identification Number (DIN): Every Director must have a DIN. Apply if you don't have one.
• Name Approval: Submit your desired company name for approval to the Registrar of Companies (ROC).
• Documentation: Prepare necessary documents like the Memorandum of Association (MOA) and Articles of Association (AOA).
• Filing: File all the documents, including the application form, with the ROC.
• Fees Payment: Pay the prescribed government fee, which varies based on your capital requirement.
• Certificate of Incorporation: Upon verification, the ROC will issue a Certificate of Incorporation.

WHY CHOOSE CORPIQ FOR OPC REGISTRATION

- Expert Guidance: Navigate the OPC journey with seasoned professionals.

- Transparent Pricing: No hidden fees. You know exactly what you're paying for.

- Swift & Efficient: Get your OPC registered with minimal hassles.

- End-to-End Support: From initial consultation to post-registration support, we've got your back.




Frequently Ask Questions

1. Is it mandatory to elect a nominee in an OPC?	Ans: Yes, it is mandatory for the sole member of OPC to elect a person as a nominee of OPC, who in the event of his death or incapacity to contract will become a member of the company. This nomination is to be done in form INC-4.
1. Is it mandatory to elect a nominee in an OPC?	Ans: Yes, it is mandatory for the sole member of OPC to elect a person as a nominee of OPC, who in the event of his death or incapacity to contract will become a member of the company. This nomination is to be done in form INC-4.
1. Is it mandatory to elect a nominee in an OPC?	Ans: Yes, it is mandatory for the sole member of OPC to elect a person as a nominee of OPC, who in the event of his death or incapacity to contract will become a member of the company. This nomination is to be done in form INC-4.
1. Is it mandatory to elect a nominee in an OPC?	Ans: Yes, it is mandatory for the sole member of OPC to elect a person as a nominee of OPC, who in the event of his death or incapacity to contract will become a member of the company. This nomination is to be done in form INC-4.
1. Is it mandatory to elect a nominee in an OPC?	Ans: Yes, it is mandatory for the sole member of OPC to elect a person as a nominee of OPC, who in the event of his death or incapacity to contract will become a member of the company. This nomination is to be done in form INC-4.