One Person Company Registration
What is OPC registration?
With the passage of the Company's Act 2013, a novel idea known as the "One Person Company" was established in India. A single individual forms a "One Person Company" in India. A single person was not permitted to establish a business prior to the implementation of the Companies Act of 2013. The advantages of a sole proprietorship are combined with company-like traits in an OPC. Prior to now, a person who needed to start a business should only choose a single proprietorship.
A company can be incorporated with just 1 director and 1 member, according Section 2 (62) of the Company's Act 2013. Compared to a Private Limited Company, One Person Companies are subject to fewer compliance requirements for registration in India.
A single member and a single director are all that are required to register a one-person company in India under the Companies Act 2013. It is also possible for the Director and Member to be the same person. One can register an OPC in India here, whether they are a resident or non-resident Indian.
RELATED GUIDES
- One Person Company in India, Companies Act 2013
- Documents Required for Company Registration
- OPC Compliance Requirements
- Nominee in One Person Company
- Conversion of One Person Company
- One Person Company vs Private Limited Company
Check Business Name Availability
Find if business name can be registered with MCA in India
Getting the Ministry of Corporate Affairs' (MCA) approval for the company name is the first step in registering a company in India. It takes this process 24-48 hours. In India, a private limited company's name must conclude with the phrase "private limited." (OPC) private limited is the last name of a one person company. Companies that fall under Section 8 might have a final letter such as foundation, association, or institution. LLPs conclude with LLP.
A proposed company name cannot be the same as or confusingly similar to an already registered company name. Additionally, each firm name needs to have a word that describes the activity it engages in. For instance, the activity carried out in VERVE Financial Services Private Limited is indicated by the term "Financial Services." Check Business Name Availability
Proprietorship vs Limited Liability Partnership (LLP) vs Company
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Features |
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Definition |
Unregistered type of business entity managed by one single person |
A formal agreement between two or more parties to manage and operate a business |
A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. |
Registered type of entity with limited liability to the owners and shareholders |
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Ownership |
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For One Person Company
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Registration Time |
7-9 working days |
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Promoter Liability |
Unlimited Liability |
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Documentation |
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Governance |
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Under Partnership Act |
Under Companies Act,2013 |
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Transferability |
Non Transferable |
Transferable if registered under ROF |
Transferable |
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Compliance Requirements |
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Documents Required For OPC Registration
PAN Card
Passport
Voters Identity Card
Ration Card
Driving License
Electricity Bill
Telephone Bill
Aadhaar Card
Bank Statement
Sale Deed Copy
Lease / Rent Agreement
MOA Subscriber Sheet
AOA Subscriber Sheet
Faq's
What is a dormant company?
If the annual compliances are not met with the becomes a Dormant Company and can be struck off after some time. A Struck company can be revived for a period of up to 20 years.
What is the difference between sole proprietorships and OPC?
In a Person Company, a single person runs a company limited by shares whereas a Sole Proprietorship means an entity that is run by one individual, and the owner and business are considered as the same entity.
Why OPC is better than private limited?
One Person Company (OPC) is the perfect hybrid of a Private Limited Company and a Limited Liability Partnership (LLP). It offers the limited liability benefits of a Pvt Ltd as well as the flexibility of an LLP.
What are the benefits of OPC company?
OPCs are easy to set up and manage, require minimal maintenance, and can offer better operational control and taxation benefits. With the ease of registration and low cost of operation, OPCs are the ideal way for small businesses to get started.
What is a OPC company?
One Person Company in India is a new concept that has been introduced with the Company's Act 2013. An OPC is owned and managed by a single person, it combines the advantages of a sole proprietorship with those of a company.
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