Your Trusted Partner for OPC Registration Services. We specialize in guiding solo entrepreneurs through the intricate process of One Person Company (OPC) registration.
In 2013, the Companies Act, 2013 ushered in the revolutionary concept of the ‘One Person Company (OPC)’, presenting a groundbreaking avenue for aspiring entrepreneurs. This innovative framework allows individuals to establish a business entity independently, thereby creating a singular economic presence tailored to their vision. Essentially, an OPC serves as an evolution of the traditional sole proprietorship model.
Within an OPC, a solitary promoter assumes full control over the company’s operations, thereby mitigating their liability while maintaining autonomy over contributions to the enterprise. While a director nominee exists within the structure, their authority remains dormant until the primary director is incapacitated. As delineated in Section 2(62) of the Companies Act 2013, an OPC can be constituted with a sole director and member, streamlining the formation process.
One of the hallmark features of a One Person Company Registration in India is its reduced compliance burden compared to other corporate structures. The streamlined nature of an OPC simplifies managerial responsibilities, offering a straightforward approach to governance as it is administered by a single individual. For entrepreneurs seeking a unique pathway to success, registering as an OPC in India presents an unparalleled opportunity for growth and innovation..
LegalsExpert team of knowledgeable and efficient experts is always available to help and advise you on the process of forming a Private Limited Company. LegalsExpert is a leading business startup consultant in India, offering a wide range of company registration services.
Types of OPC
- OPC limited with Guarantee
- OPC limited with Share Capital
- OPC Unlimited Company
Each prospective partner’s self-attested PAN card must be utilized to complete the One Person Company Registration Process.
The Self-attested address proof must include the Partner’s name as it appears on their
For Indian citizens, self-attested passports, election cards or voter identification, Aadhaar cards, or any other form of identity verification is acceptable and is included in the One Person Company Registration documentation.
The Self-Attested Partner’s Ownership Proof must include the most recent Electricity Bills, Telephone Bills, Gas Bills, Mobile Bills, or any other utility bills from the company’s location that are no more than 2 months old.
And most recent two passport-size photos.
All directors and members are required to provide two months’ worth of bank statements.
- There must be only one shareholders and only one directors.
- An OPC must have only one directors and must be an Indian citizen.
- There is no minimum capital requirement.
- There is no continued existence allowed in One Person Company Registration
- OPC is the only corporate entity in India that can be operated by a single promoter with limited liability protection, ensuring the business's perpetual existence as well as easy ownership transferability.
- In the event of the original director's incapacity or death, the only owner of the OPC shall nominate another person who is an Indian resident.
- The incorporated OPC has "perpetual succession," or continuous existence until legally dissolved. Because the company has its own legal existence, it is unaffected by the death or departure of any of its members and continues to exist regardless of changes in ownership.
- In OPC, ownership can be transferred by changing the nominee director's information, shareholding, or directorship, or by signing, filing, and transferring share certificates and share transfer forms, which are sufficient to transfer the company's ownership.
- Due to the requirement that an OPC have its books audited annually, it has greater credibility among vendors and lending institutions.
- Venture capital, financial institutions, angel investors, and other sources of funding are readily available. It is clear that banks and other financial institutions prefer to provide funding to corporations rather than partnership firms or proprietary concerns that require very little ROC filing to be registered with the Registrar of Companies.
- A One Person Company Registration has fewer compliances, which are Reasonable and Minimum Compliance.
- Only the company's investment is lost in OPC; the directors' personal assets are protected regardless of the business's debts. Because the business entity is a corporation, the entrepreneurs' assets are protected from the corporation's failures.
- Because of the lack of documentation, OPC Company is simple to sell.
- Because this enables quick decision making and execution, the OPC can appoint up to 15 directors to official functions without providing them with any share.