package_details

packages-images

One Person Company

The concept of One Person Company [OPC] is a new vehicle/form of business, introduced by The Companies Act, 2013 [No.18 of 2013], thereby enabling Entrepreneur(s) carrying on the business in the Sole-Proprietor form of business to enter into a Corporate Framework.

One Person Company is a hybrid of Sole-Proprietor and Company form of business, and has been provided with concessional/relaxed requirements under the Act.

Features of One Person Company (OPC)

  • Only One Shareholder:

Only a natural person, who is an Indian citizen and resident in India shall be eligible to incorporate a One Person Company. Explanation: The term "Resident in India" means a person who has stayed in India for a period of not less than 182 days during the immediately preceding one calendar year.

  • Nominee for the Shareholder:

The Shareholder shall nominate another person who shall become the shareholders in case of death/incapacity of the original shareholder.  Such nominee shall give his/her consent and such consent for being appointed as the Nominee for the sole Shareholder.   Only a natural person, who is an Indian citizen and resident in India shall be a nominee for the sole member of a One Person Company.

  • Director:

Must have a minimum of One Director, the Sole Shareholder can himself be the Sole Director. The Company may have a maximum number of 15 directors.

Terms and Restrictions of OPC

  • A person shall not be eligible to incorporate more than a One Person Company or become nominee in more than one such company.
  • Minor cannot shall become member or nominee of the One Person Company or can hold share with beneficial interest.
  • An OPC cannot be incorporated or converted into a company under Section 8 of the Act. [Company not for Profit].
  • An OPC cannot carry out Non-Banking Financial Investment activities including investment in securities of any body corporate.
  • An OPC cannot convert voluntarily into any kind of company unless two years have expired from the date of incorporation of One Person Company, except threshold limit (paid up share capital) is increased beyond Rs.50 Lakhs or its average annual turnover during the relevant period exceeds Rs.2 Crores i.e., if the Paid-up capital of the Company crosses Rs.50 Lakhs or the average annual turnover during the relevant period exceeds Rs.2 Crores, then the OPC has to invariably file forms with the ROC for conversion in to a Private or Public Company, with in a period of Six Months on breaching the above threshold limits.

Steps to Incorporate One Person Company (OPC)

  • Obtain Digital Signature Certificate [DSC] for the proposed Director(s).
  • Obtain Director Identification Number [DIN] for the proposed director(s).
  • Select suitable Company Name, and make an application to the Ministry of Corporate Office for availability of name.
  • Draft Memorandum of Association and Articles of Association [MOA & AOA].
  • Sign and file various documents including MOA & AOA with the Registrar of Companies electronically.
  • Payment of Requisite fee to Ministry of Corporate Affairs and also Stamp Duty.
  • Scrutiny of documents at Registrar of Companies [ROC].
  • Receipt of Certificate of Registration/Incorporation from ROC.
  • Limited Liability

The directors' personal property is always safe in a private limited company, no matter the debts of the business.

  • Continuous Existence

Sole Proprietorships come to an end with the death of the proprietor. As an OPC has a separate legal identity, it would pass on to the nominee director and, therefore, continue to exist.

  • Greater Credibility

As an OPC needs to have its books audited annually, it has greater credibility among vendors and lending institutions.

TO BE SUBMITTED BY DIRECTOR

  • Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
  • Scanned copy of Voter's ID/Passport/Driver's License
  • Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
  • Scanned passport-sized photograph
  • Specimen signature (blank document with signature)

Note: The director must self-attest the first three documents. In case of foreign nationals and NRIs, all the documents must be notarised (if currently in India or a non-Commonwealth country) or apostilled (if in a Commonwealth country).

 

FOR THE REGISTERED OFFICE

  • Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
  • Scanned copy of Notarised Rental Agreement in English
  • Scanned copy of No-objection Certificate from property owner
  • Scanned copy of Sale Deed/Property Deed in English (in case of owned property)

Note: Your registered office need not be a commercial space; it can be your residence, too.

 

  • You pay a Fixed Price for Litigation
  • No hidden costs.
  • No stress of litigation
  • Experienced and dedicated professionals assigned to your case
  • Regular case Updates

5 WORKING DAYS

The director must apply for the Digital Signature Certificate (DSC), which is necessary to file the company registration documents. For this, you will only need to provide a few scanned documents and details; our representatives will fill the form and submit it online.

7 WORKING DAYS

As soon as we apply for the DSC, we will ask you to pick a name for your company, and send us some scanned documents regarding it. These will be used to file SPICe i.e. INC-32 and the Memorandum of Association (MoA) and Articles of Association (AoA). The Certificate of Incorporation will be approved at the end of this process.

2 WORKING DAYS

Every company needs a registered Permanent Account Number (PAN) and Tax Account Number (TAN). We will make the application online ourselves, but you will need to courier hard copies of the required documents yourself. The PAN and TAN will be couriered to the your registered office address in 21 working days.

• Pay Online
• Our Customer Support executive will call you for details of your query and forward it to the advocate
• You will be connected with the lawyer for a 15-minute consultation.
• A first draft will be sent to you for review and changes
• You will be connected with the lawyer for again for a time span of 15 minutes to discuss the required changes.
• No further consultation with the advocate forms a part of this package.

Other Similar Packages

  • Packages

    A legal notice is a notification to the receiver of an existing dispute between him and the sender. We commonly hear people tell each other that, "..

    3.6

    2499.00/-

    1999.00/-

  • Packages

    In the current era, Cheques are used in almost all transactions, be it the guarantee of loans, Landlord tenant agreements, tenders, payment of sala..

    4

    10999.00/-

    9999.00/-

  • Packages

    Investing in a group housing project is risk most people are forced to take, essentially in a standard group housing project, a developer generally..

    3.5

    16999.00/-

    14999.00/-

  • Packages

    Trademark is defined as a unique symbol, mark, or a word legally registered by a manufacturer or a company to distinguish its products from others...

    4

    2199.00/-

    1999.00/-

  • Packages

    Consumers are the building blocks of every economy. For an economy to thrive, consumer satisfaction is very important. It is consumers who help a b..

    4

    10999.00/-

    10999.00/-

  • Packages

    Marriages are made in heaven, but divorce can make this heaven into hell. Separation is an extremely difficult aspect of a marriage, if both the pa..

    3.5

    22999.00/-

    21999.00/-

  • Packages

    Trade License is a certificate which grants permission to carry a particular trade or business for which it is issued. In the last forty years, tra..

    4

    5999.00/-

    3999.00/-

  • Packages

    Trade License is a certificate which grants permission to carry a particular trade or business for which it is issued. This helps in ensuring that ..

    4.5

    9999.00/-

    7999.00/-

Ratings & Reviews

Lawzgrid-icon

100% SECURE PAYMENT

All major credit & debit cards accepted

Lawzgrid-icon

TRUSTPAY

100% Payment Protection and Best Price Guarantee

Lawzgrid-icon

HAVE A QUESTION?

Live chat with our local experts 24/7 or browse our FAQs

LawzGrid-solutions-icon