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.

Is it necessary for the OPCs to conduct an annual general meeting?

Except for OPCs, all entities are required to conduct an Annual General Meeting every year.

What is the role of a Nominee in an OPC?

A nominee is an individual who becomes a member of the company in case of the promoter's death or incapacitation.

What is the authorized capital fee?

Authorized Capital of a Company is the number of shares a company can issue to the shareholders. A Company is required to pay the Government an authorized capital fee to issue shares.

How to speed up the incorporation process?

Ensure that the name you choose is unique and you have all the required documents before the process of incorporation for speedy incorporation.

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One Person Company Registration

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Uploaded: 2023-07-24 T08:00:00+08:00
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What is OPC registration?

One Person Company in India is a new concept that has been introduced with the Company's Act 2013. One Person Company in India is incorporated by a single person. Before the enforcement of the Companies Act 2013 a single person was not able to establish a company. An OPC has features of a Company and the benefits of the sole proprietorship. Earlier if a person had to establish a business then he or she should only opt for a sole proprietorship.

According to Section 2 (62) of the Company's Act 2013, a company can be formed with just 1 director and 1 member. One Person Company registration in India is a type of entity where there are lesser compliances requirements than that of a Private Limited Company.

A One Person Company Registration in India can be obtained under the Companies Act 2013 with just one single member and one Director. The Director and member can also be the same person. Here an individual who may be a resident or Non-resident Indian can register an OPC in India.

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Check Business Name Availability

Find if business name can be registered with MCA in India

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To register a company in India, the first step is to obtain name approval for the business from the Ministry of Corporate Affairs (MCA). This process takes about 24-48 hours. A private limited company name in India must end with the words private limited. One Person Company ends with (OPC) private limited. LLP end with LLP and Section 8 companies can end with words like foundation, association or institution.

A company name proposed to be registered cannot be identical or similar to an existing company name. Also, every company name must include a word that denotes the activity undertaken. For example, in VERVE Financial Services Private Limited - Financial Services denote the activity undertaken. Check Business Name Availability

Online Trademark Search

Enter a brand name to search across all trademark classes

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All trademarks are registered in India with the Office of the Controller General of Patents, Designs and Trade Marks. A trademark application has to be filed under a class that denotes the type of goods or services the brand or logo represents. There are 45 trademark classes and each class represent a distinct type of goods or service.

Trademark search can be conducted using the tool above to check if any identical or similar brand or logo is registered or applied for under the same class. If there is an existing application, care must be taken while reapplying to ensure that the application is not rejected by the Trademark Registrar. Trademark Search

Proprietorship vs Limited Liability Partnership (LLP) vs Company

Features	Proprietorship	Partnership	LLP	Company
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
Ownership	Sole Ownership	Min 2 Partners Max 50 Partners	Designated Partners	Min 2 Directors Min 2 Shareholders Max 15 Directors Max 200 Shareholders For One Person Company 1 Director 1 Nominee Director
Registration Time	7-9 working days
Promoter Liability	Unlimited Liability		Limited Liability
Documentation	MSME GST Registration	Partnership Deed	LLP Deed Incorporation Certificate	MOA AOA Incorporation Certificate
Governance	-	Under Partnership Act	LLP Act, 2008	Under Companies Act,2013
Transferability	Non Transferable	Transferable if registered under ROF	Transferable
Compliance Requirements	Income tax filing if turnover is more than Rs.2.5 lakhs	ITR 5	Form 11 Form 8 ITR 5	ITR 6 MCA filing Auditor'sappointment Know More

OPC Registration FAQ's

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.

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.

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 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 DSC?

The DSC establishes the identity of the sender or the signee electronically while filing the document online. The MCA mandates that the Directors sign some of the application documents using their Digital Signature.

What is the Director Identification Number?

It is the Unique Identification Number that is assigned to all existing and proposed Directors of a Company. All proposed Directors must have Director Identification Number. The DIN never expires and a person can have only one DIN.

Is a Private Limited Company better than OPC?

OPC is a Company that has a separate existence and is owned by one single member. One person happens to be a mixture of proprietorship and company forms of business.

Is audit compulsory for OPC?

For an OPC statutory audit is mandatory. A company needs to appoint a CA as the auditor of the Company. The auditor needs to verify the books of accounts and issue a Statutory Audit report.

Is GST mandatory for OPC?

GST registration for a Person Company is necessary if the supply of goods or services is in another state irrespective of annual turnover.

Can OPC raise funds?

An OPC can raise funds through venture capital, financial institutions. An OPC can also raise funds by converting into a Private Limited Company.

Related Business Registrations

In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.

MCA Compliance

Every registered entity has to comply with all the compliance obligations after the completion of each financial year. Majorly, it includes the audit of books of accounts, income tax return filing, and annual forms with the MCA.

Form	Company Compliance	Due date	Penalty
COB Filing	Commence of Business Certificate	To be filed before 180 days of company Incorporation	Rs.50,000 for non-compliance
DIR 3 EKYC	Any director with DIN	Before 30th September every year	Deactivation of the DIN A late filing fee of Rs.5,000 Disqualification of the Directors
Form ADT 1	Appointment of auditor	Within 15 days from the date of appointment of the Auditor	Late fees will be applicable, with fees ranging from 2 to 12 times the nominal fee, depending on the number of days of delay.
Form AOC 4	Filing financial statements of the company	30 days from the conclusion of the AGM	Late fees will be applicable, with fees ranging from 2 to 12 times the nominal fee, depending on the number of days of delay.
Form MGT 7	Annual Returns of the Company	60 days from the conclusion of the AGM

In addition to the above filings, depending on the type of entity and business activity more compliance filing maybe applicable. Please check with an IndiaFilings Advisor to help you with the compliance for your company.

All Limited Liability Partnerships (LLP) registered in India are required to file statutory returns with the Ministry of Corporate Affairs (MCA) each year. IndiaFilings can help you maintain your LLP Compliance at a very affordable price.

Form	LLP Compliance	Due date	Penalty
DIR 3 KYC	For every designated partners of a limited liability partnership (LLP) with DIN	Before 30th September every year	Deactivation of the DIN A late filing fee of Rs.5,000 Disqualification of the Partners
Form 11	Annual Returns	May 30th every year	Late fees will be applicable, with fees ranging from 1 to 50 times the nominal fee, depending on the number of days of delay.
Form 8	Statements of Accounts and Solvency	30th October every year	Late fees will be applicable, with fees ranging from 1 to 50 times the nominal fee, depending on the number of days of delay.

Apart from the aforementioned filings, there might be additional compliance filings that could be relevant for LLPs. Please consult with an IndiaFilings Advisor to assist you with the compliance needs of your LLP.

Entity	Form	Due date
Private Limited Company	Annual Return (Form MGT-7)	60 days from the conclusion of the AGM or 28th November 2023 (Which Ever is Earlier)
	Financial Statements (Form AOC-4)	29th October 2023
	DIR-3 KYC	30th September 2023
	Form DPT-3	30th June 2023
	Form ADT-1	15th October 2023
	ITR 6 (Non audit case)	31st July 2023
	ITR 6 (Audit Cases)	31st October 2023
	GSTR 9	31st Dec 2023
Limited Liability Partnership	ITR 5 (Non audit case)	31st July 2023
	ITR Form 5 (Audit case)	30th September 2023
	Annual return - Form 11	30 May 2023
	Financial Statements - Form 8	30 October 2023

Note : Get in touch with our experts to efficiently handle your compliance filings, whether you are an LLP, a company, partnership firm or a proprietorship. Contact us to ensure your compliance is filed before the due date.

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