One Person company Registration

  • 750+ LLPs Registered
  • No Hidden Charges
  • 100% Customer Satisfaction
  • Seamless LLP Registration Led by Seasoned Industry Experts
  • 7-Day Process Completion Guarantee*
  • Fast-Track Registration"
...
Start Your Business

with free consultation

Talk with Our Expert

Overview of One Person company (OPC)

An Indian One Person Company registration offers a distinctive business structure designed for individuals. With the advantages of both a sole proprietorship and a traditional private limited company, this simplified process enables an individual entrepreneur to launch and run a business.

Exclusively available to individual business owners, one-person companies provide them with a legal structure akin to more giant corporations. Those who want to register a company as a sole proprietor are the target audience for this streamlined process.

There are various benefits to registering a one-person company in India. Individuals who are sole proprietors enjoy limited liability protection and more straightforward regulatory requirements. This structure improves the company's credibility by attracting investors, providing tax incentives, and creating growth opportunities.

Introduction to One Person Company (OPC)

One person Company as the emerging business trend has opened doors for many young entrepreneurs aiming to start their own company. The idea came into operation after the implementation of Companies Act 2013, which legalised one person company, where a single person is the sole owner and operator of a business firm.

Before companies Act 2013, minimum two people were required to start a private company, involving a lot of formalities and risks, but one person company has shifted these burdens to a minimum, requiring lesser formalities with similar benefits as of a private limited company. In simple words, with one person company, the owner can enjoy the features of a private limited company along with the benefits of a sole proprietor.

Benefits of One Person Company Registration

One Person Company is becoming an increasingly popular business entity because of certain flexibilities and benefits it provides. Listed below are many such benefits which make OPC the most preferred form of business entity for young entrepreneurs:

Separate Legal Entity: Just like a private limited company, despite having a single member, the company has a separate legal entity. It means the company is a separate legal body, distinct from its owner, and can enter into legal contracts and dealings under its own name. Even in cases of losses and debts, the owner is not liable to pay any debts aside from the percentage of its share in the company.

Single ownership: Single ownership means the owner is entitled to hold all the shares of the company and pocket all the profit while also enjoying the benefit of total control in the decision making process. With one person involved in the decision-making process, it leads to less confusion and delays in the process. The owner is neither required to consult with anyone nor answerable for his decision, which makes the whole process smooth and flexible.

Easy incorporation: A one-person company is comparatively an easy establishment as it does not require a lot of formalities and paperwork for its formation. The registration process is simple and can be done online without any hassle. Since it is a single person establishment, the same person can also act as a director of the company, making the process much easier.

Easy investments and credit facilities: A one-person company can have a maximum of 200 members as shareholders, which increases its ability to acquire investments in the form of equity. Also, since a one person company is a legally incorporated entity, all the details and documents are readily available on the official website of the Ministry of Corporate Affairs for verification, making it easier for the company to acquire credit from financial institutions.

Perpetual succession: Perpetual succession means the identity of the company will remain, even after the death of its sole owner. The owner is required to appoint a nominee, who will succeed him as the new owner, either after his death or his permanent departure from the company. In this manner, the company can keep running for an unlimited period of time. For perpetual succession, the consent of the sole owner is the ultimate requirement. 

One Person company Registration process

The registration for a One Person Company is a simple procedure and it can be done online through Ministry of Corporate Affairs portal. Here is the step-by-step guide to how one can register as a One Person Company.

Step 1: Obtain Digital Signature Certificate

In the first step, it is important to acquire the digital signature certificate for the proposed owner of the company. It is necessarily required to sign all the documents during the online registration process.

Step 2: Obtain Director Identification Number

In the next step, the company has to obtain Director Identification number, which is provided by the Ministry of Corporate Affairs (MCA) which serves as unique identification for the proposed owner.

Step 3: Name approval

In the next step, it is required to choose a name for the company. It is important that the reserved name should be unique and should not resemble any of the existing companies. The applicant can reserve the name from Ministry of Corporate affairs portal by submitting SPICe+ (A) form.

Step 4: Creating MoA and AoA

memorandum of Association is a legal document which specifies objectives and basic details of the company whereas Article of Association is a document which specifies the rules and regulations of the company. Both the documents are required to be filled and submitted to the Registrar of companies (ROC) for approval.

Step 5: Form Filling

In this step, all the above stated documents, i.e MoA, AoA along with DSC of the proposed director, are submitted on the Ministry of Corporate Affairs (MCA) portal for verification. After the submission, the PAN number and TAN are generated automatically.

Step 6: Issue of certificate

Once all the documents are submitted, the respective authorities will do a verification check. If the application satisfies all the requirements, a certificate of Incorporation will be issued, which is proof that the company is now registered.

Documents required for the Incorporation of One Person Company

Aadhar Card and Pan card of the proposed owner and other members

 A passport-size photograph of the proposed owner and other members

 Address proof of the proposed owner and other members

 Rental agreement of the registered office

 Utility and other bills of the registered office

 Memorandum of Association and Articles of Association of the company

 Digital signature certificate and Director Identification Number of the proposed director or owner


One Person Company Registration Fees

The cost of one person company registration in India can vary depending on several factors, including:

  • Government Fee: For several registration procedures, the Ministry of Corporate Affairs (MCA) sets standard costs. They pay for the costs of reserving a name, incorporating, and submitting paperwork to the Registrar of Companies (RoC) that are related to completing your application.
  • Professional Fees: There will be professional fees if you choose to hire a professional, like a chartered accountant or company secretary, to help you with the registration procedure and make sure you're following the law. The range of services rendered and the professional's level of experience determine these prices.
  • Extra Costs: There are several unspecified costs to take into account in addition to professional and government fees. These might consist of:
  • Stamp duty: Depending on the applicable stamp duty rules of the state where the business is formed, some papers, such as the Memorandum of Agreement and the Articles of Association, may need to be stamped.
  • Bank fees: Bank fees or transaction fees may apply when paying online for professional services or government levies.
  • Notary fees: There may be additional costs associated with notarizing certain papers.

Procedure for One Person Company Registration

The procedure for incorporating a one person company (OPC) is simple and effective. Taxlegit has offered the following easy procedures to create an OPC: To obtain a DSC: A digital signature certificate has to be obtained from a certified authority by the applicant.

  • To obtain DIN: A director identification number is required for the proposed director. It is applied in the SPICe Form along with the director’s details.

  • Name Approval: The RUN form is filled out to check the availability of a unique name. Another way is to be applied by mentioning the name in the SPICe Form (INC 32) 

  • Crafting the Memorandum of Association (MoA) and Articles of Association (AoA): Make the OPC's articles of association (AoA) and memorandum of association (MoA). The goals, policies, and procedures that control the business are outlined in these papers.

  • Form INC-2: the declaration, the authorization of the director(s), and any other required paperwork should be prepared and filed with the incorporation application, the MoA, the AoA, and any other required paperwork.

  • Address: Fill out Form INC-22 with information on the OPC's address. Encouraging documentation, such as an office rental agreement or evidence of ownership must be submitted.

  • A Form DIR-12: should be filed in order to officially announce the appointment of the OPC's director or directors.

  • Fee Payment: Cover the necessary costs for submitting the forms and incorporation documents.

Taxlegit help in Registering an OPC

Taxlegit understands that for new ventures, understanding the legal compliances and tax guidelines can be very daunting, that is why having a legal expert, who can minimize the risk and possible uncertainties related to the legal environment can help businesses sustain.

We at taxlegit are committed to provide legal solutions tailored to individual needs of both startups and existing businesses, be it registration, overseeing documentation processes, tax filing for both individuals and businesses, and other legal assistances. We are driven to provide the best support with the team of our experts to businesses, so that they can grant focus to their area of expertise. 

FAQ's

Yes, a single person can register a company in India under the One Person Company (OPC) framework. The OPC structure allows a single individual to incorporate and manage a company while enjoying the benefits of limited liability and a separate legal entity.

To be eligible for registering a One Person Company, the individual must meet the following criteria: Indian Citizenship: The person must be a citizen of India. Resident in India: The individual must have resided in India for at least 182 days during the preceding financial year. Sole Member: The person must not be a member of another OPC. Nominee: The individual must appoint a nominee who meets the same eligibility criteria.

Yes, you can register an OPC by yourself. The registration process can be done online through the Ministry of Corporate Affairs (MCA) portal. However, it is advisable to seek assistance from a legal consultant or a company secretary to ensure all legal and procedural requirements are met accurately.

The registration process for a One Person Company typically takes between 7 to 15 days. This timeframe may vary depending on the accuracy of the submitted documents and the workload at the Registrar of Companies (ROC). The process includes obtaining DSC and DIN, name approval, filing incorporation documents, and receiving the Certificate of Incorporation.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

Related Blog & Article

//