One Person Company (OPC) registration is an alternative concept of sole proprietorship firm for taking to step towards limited liability, which is introduced by the Ministry of Corporate Affairs (MCA). One Person Company is totally new concept in the new Companies Act in the year 2013, earlier there was no concept of a one-person Company. The main aim was to promote the individual having the resources to form a company by reducing the complications and challenges faced while the incorporation of a legal entity. It can be said as it is a company that is owned by a single person.
One Person Company (OPC) registration is an alternative concept of sole proprietorship firm for taking to step towards limited liability, which is introduced by the Ministry of Corporate Affairs (MCA). One Person Company is totally new concept in the new Companies Act in the year 2013, earlier there was no concept of a one-person Company. The main aim was to promote the individual having the resources to form a company by reducing the complications and challenges faced while the incorporation of a legal entity. It can be said as it is a company that is owned by a single person.
Section 2(63) of the Companies Act 2013 defines the OPC as a one-person company means a company that has just one person as a member.
The Concept of One Person Company has already been introduced by several countries before the enactment of the Companies Act,2013. these included the likes of China, Singapore, the UK, Australia, and therefore the USA.
Registration of One Person Company can be easily done with VAKILKARO with legal expertise. It is totally online process, which started with seven one Natural persons, out of them one shall be the member and directors and another shall be the nominee. The Ministry of Corporate Affairs (MCA) has given the power to the Registrar of Companies (ROC) to issue the License of One person Company, which takes 7 days estimated. VAKILKARO has the legal expertise in Registration, Legal Compliance, drafting of related Agreements related to One person Company.
To Start One Person Company, only a single member is sufficient, ,unlike a private limited company.
- One Person Company can use the word “OPC Private Limited” at the end of its name.
One Person Company is a newly updated version of a sole proprietorship firm with limited liability features.
One Person Company has less compliance & legal formalities in compare to Private Limited Company.
One Person Company has the special features to register itself under Startup India to get DPIIT Number,, unlike Sole Proprietorship and Partnership.
PAN CARD of 1 person is mandatorily required and in case of the foreign national valid passport also requires.
Any proof of identity like Adhaar Card/ voter id card/driving license of 1 person is mandatorily required
The client has to be provided at least two Company names to apply for name approval.
persons must have their photos, mobile number, valid emails, and latest bank statements (must not be older than 2 months).
The client has to provide Office Address proof like Rent Agreement/Property papers with a latest electricity bill.
*In case of NRI or Foreign National, documents of director (s) must be notarized.
One Person Company can be registered by any one natural person who is an Indian citizen with one nominee, who shall also be a natural person.
No, as per the provisions of Companies Act, 2013 it is not possible.
The Conversion in to private limited company First is Voluntary and second is Mandatory. Voluntary conversion is only possible when it has expired 2 years from the date of its incorporation and it becomes mandatory when the paid-up share capital exceeds Rs. 50 lakh or the yearly turnover of immediately previous three consecutive financial years is more than 2 Crores rupees.
The Following People can not become a member of one person company:-
1. Minors i.e people under the age of 18 are not valid to be a member or a shareholder or even a nominee.
2. Foreign Citizen.
3. Non Resident.
4. Person incapacitated to contracts.
OPC can registered in the ways of Private Limited Company.
Only one person can be the shareholder in the company.
One Person Company (OPC) may be either a company limited by share or a company limited by guarantee or an unlimited company
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+91 9828123489
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Single Person
Private Limited Status
Limited Liability Protection
Fewer Compliances
+91 9828123489
help@vakilkaro.co.in