Eligibility
To incorporate a one person company a minimum of two persons (1 Director and 1 Nominee) are required over the age of 18 years with both being an Indian citizen and resident.
One Person Company (OPC) Registration
The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. One of the biggest advantages of a One Person Company (OPC) is that there can be only one member in a OPC, while a minimum of two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP). Similar to a Company, a One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate.
Though a One Person Company allows a lone Entrepreneur to operate a corporate entity with limited liability protection, a OPC does have a few limitations. For instance, every One Person Company (OPC) must nominate a nominee Director in the MOA and AOA of the company - who will become the owner of the OPC in case the sole Director is disabled. Also, a One Person Company must be converted into a Private Limited Company if it crosses an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year like all types of Companies. Therefore, it is important for the Entrepreneur to carefully consider the features of a One Person Company prior to incorporation.
IndiaFilings is the market leader in company registration services in India, offering a variety of company registration like private limited company registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration and Indian Subsidiary registration. The average time taken to complete a one person company registration is about 10 - 15 working days, subject to government processing time and client document submission. Get a free consultation for one person company registration and business setup in India by scheduling an appointment with an IndiaFilings Advisor.
Company Name Availability
Companies Act, 2013 does not permit registration of identical or similar names
9 Articles to Read Before One Person Company
Pay as you go grow pricing
All Inclusive Pricing - No Hidden Fee
Basic
all inclusive fees
- 2 Class 2 Digital Signatures 1
- 1 Director Identification Numbers
- 1 RUN Name Approval 2
- Upto 10 Lakhs Authorized Capital 3
- Incorporation Fee
- Stamp Duty 4
- Incorporation Certificate
- ICICI Bank Current Account
- PAN & TAN
- 50+ Document Formats
- Incorporation Kit
- Hard-copy Share Certificates
- GST Registration
- Premium LEDGERS Accounting Software 6
- GST eWay Bill Software
- Commencement of Business Certificate
Standard
all inclusive fees
- 2 Class 2 Digital Signatures 1
- 1 Director Identification Numbers
- 1 RUN Name Approval 2
- Upto 10 Lakhs Authorized Capital 3
- Incorporation Fee
- Stamp Duty 4
- Incorporation Certificate
- ICICI Bank Current Account
- PAN & TAN
- 50+ Document Formats
- Incorporation Kit
- Hard-copy Share Certificates
- GST Registration
- Premium LEDGERS Accounting Software 6
- GST eWay Bill Software
- Commencement of Business Certificate
- Bookkeeping
- Financial Statement Preparation
- Board Resolution Preparation
- MCA Annual Return Filing
- Income Tax Return Filing
- 1 Year Dedicated Compliance Manager Support
Premium
all inclusive fees
- 2 Class 2 Digital Signatures 1
- 1 Director Identification Numbers
- 1 RUN Name Approval 2
- Upto 10 Lakhs Authorized Capital 3
- Incorporation Fee
- Stamp Duty 4
- Incorporation Certificate
- ICICI Bank Current Account
- PAN & TAN
- 50+ Document Formats
- Incorporation Kit
- Hard-copy Share Certificates
- GST Registration
- Premium LEDGERS Accounting Software 6
- GST eWay Bill Software
- Commencement of Business Certificate
- Bookkeeping
- Financial Statement Preparation
- Board Resolution Preparation
- MCA Annual Return Filing
- Income Tax Return Filing
- 1 Year Dedicated Compliance Manager Support
- 12 GST Return Filing (GSTR-3B or GSTR-1)
- Udyog Aadhar Registration
- Trademark Registration
- Class 2 digital signatures with 2 year validity on secure USB token.
- Upto 4 name options can be given in 1 RUN name approval request.
- Authorised capital is the amount of shares a company can issue at anytime and can be increased further in the future. Paid-up capital is the amount invested by shareholder and can be even Rs.2.
- In case of Rs.10 lakh authorised capital, stamp duty of Rs.5120 (on actuals) will be chargeable extra for the state of Gujarat. Rs.5510 will be the additional stamp duty charges for state of Rajasthan. In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7550 will be applicable. In case of incorporation in Punjab, an additional stamp duty of Rs.15025 will be applicable. In case of Kerala, an additional stamp duty of Rs.3025 will be applicable.
- GST registration assistance will be provided when required.
- Premium LEDGERS Accounting Software with GST Portal Integration and eWay Bill Software.
- An additional fee of Rs.10,000 will be applicable for incorporation of a company with foreign directors.
One Person Company Bank Account Opening
Bank Account Opening
Opening a current account for a one person company is easier when compared to opening of current account for a sole proprietorship firm as a company is a registered legal entity – recognized by law. Therefore, once a company is incorporated, a bank account can be opened in the name of a company with the incorporation certificate of the company and identity/address proof of the Directors.
How long is the incorporation of the Company valid for?
What is a Digital Signature Certificate?
A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some of the application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of a proposed Company.
What is Director Identification Number (DIN)?
Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.
What is authorized capital fee?
Authorized capital of a Company is the amount of shares a company can issue to it shareholders. Companies have to pay the Government an authorized capital fee to issue shares in a Company. Companies have to pay authorized capital fee for a minimum of Rs.1 lakh.
How many people are required to incorporate a One Person Company?
To incorporate a One Person Company, a Director and a nominee is required. A nominee member is one, who shall, in the event of promoter member`s death or incapacitation become a member of the Company.
What are the requirements to be a Director or Nominee in a OPC?
Only a natural person who is an Indian citizen and a resident in India is eligible to incorporate a One Person Company or be a nominee member. The Director or Nominee must also be over 18 years of age. A person can incorporate upto five One Person Companies.
What is the capital required to start a One Person Company?
One Person Company can be started with any amount of capital. However, fee must be paid to the Government for issuing a minimum of shares worth Rs.1 lakh [Authorized Capital Fee] during the incorporation of the OPC. There is no requirement to show proof of capital invested during the incorporation process.
Is an office required for starting a One Person Company?
An address in India where the registered office of the One Person Company will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.
Do I have to be present in person to incorporate a One Person Company?
No, you will not have to be present at our office or appear at any office for the incorporation of a One Person Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.
What are the documents required for incorporation?
Identity proof and address proof is mandatory for all the proposed Director and Nominee of the One Person Company. PAN Card is mandatory. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.
How long will it take to incorporate a One Person Company?
IndiaFilings.com can incorporate a One Person Company in 7-15 days. The time taken for incorporation will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy incorporation, please choose a unique name for your Company and ensure you have all the required documents prior to starting the incorporation process.
What do I need to quickly incorporate my One Person Company?
To incorporate a One Person Company quickly, make sure the proposed name of the Company is very unique. Names that are similar to an existing company / limited liability partnership / trademark can be rejected and additional time will be required for resubmission of names.
