Promoting such kind of business encourages the small and micro industries in India. The one-person company, often known as “OPC”, was introduced under the Companies Act of MCA in 2013. An OPC enjoys the benefits of a limited company and does not require more than one person to register their Company (OPC). The Total Cost to register an OPC is lesser than the cost of other types of company registrations and has few annual compliances.
- How to Register a one-person company (OPC)?
- OPC Registration Cost
- Why seek expert advice before incorporating?
- Advantages of OPC Registration
- Compliance with OPC Registration
How to register a one-person company (OPC)?
The following prerequisites are required to fulfil for incorporating an OPC.
Step-1 obtaining DSC
A digital signature certificate is mandatory to obtain before one person company registration. DSC is used to authenticate the documents that are submitted in the MCA.
The following documents are required to obtain a DSC.
- Aadhar card of the director
- PAN Card
- Passport size photo
- Email and phone number
Step-2 Obtraning DIN
The director of a company must obtain a director identification number (DIN). It is a mandatory requirement for all businesses to have a unique director identification number.
Step-3 Register a name for the company
Having a unique name for the company is mandatory compliance. The name should be unique and not have any similarities with already registered and established enterprises.
Step-4 Obtaining MoA and AoA
Both Memorandum of association and Article of the association must be attached along with DSC and DIN while filing for SPICe+ INC – 32 form for company registration on the ministry of corporate affairs website.
Step-5 Certificate of incorporation
Once all the documents are verified by the registrar of companies (ROC), the certificate of Incorporation for your one-person company will be issued.
OPC Registration Cost (Government fees for OPC)
The OPC registration fees are dependent on various factors. The primary deciding aspect is the nominal share capital invested by the company. The cost of Incorporation of OPC also differs from state to state.
|Nominal authorised Capital||Government fee|
|For the authorised Capital of Rs. 1,00,000||Govt. fees in Delhi is Rs. 360|
|For the authorised Capital of Rs. 1,00,000||Govt. fees in Punjab is Rs. 10,025|
|For the authorised Capital of Rs. 1,00,000||Govt. fees in Gujarat is Rs. 820|
|Note:- The cost of stamp duty for SPICe+ form is subjective to states and nominal capital and differs state-wise.|
This does not include the additional mandatory cost required to fill the SPICe+ form before the Incorporation of OPC.
- Cost of acquiring a mandatory Digital signature certificate (DSC)
- Additional cost for obtaining a compulsory Director identification number (DIN)
- Additional Fees for registering a unique name for the company
Why Seek Expert advice before incorporating?
Although filing for online company registration for OPC or any other form of business seems easy and hassle-free. Yet it has various mandatory compliances and regulations to be followed before and after the company registration. We at professional utilities can help you get through all the necessary steps to register your One-Person Company with our team of experts at the Lowest consulting market price.
Advantages of OPC Registration
- Limited liability:-
An OPC company provides the benefit of limited liability to its stakeholder. This means the owner is only responsible for the amount he has invested into the company in case of loss or closure of business.
- Separate legal entity:-
One-person company is registered under the MCA act 2013 and deemed a separate legal entity from its owner. Hence it can sue or be sued or buy assets in its name.
- Easy credit facilities:-
It is easy for a registered company to attract investors from various sources or to get easy loans from banks to grow their business. As it helps increase the credibility of a company in the market.
Compliance with OPC Registration
- Filing an annual return
- Appointment of auditor
- Filing of annual income tax return
- Disclosure of interest and other entities
- Mandatory two board meetings each calendar year
How much does it cost to register an OPC in India?
The OPC registration govt fees vary from state, and it does not include the cost of obtaining DSC and DIN or the professional consultant cost.
Our “one-person company” price starts from Rs. 4,999* (Excluding govt fee), including expert advice from the beginning of Incorporation until completion.
Can I register OPC myself?
Yes, Any interested person can file for Incorporation all by themselves. But filing without expert advice can hamper the process. The procedure of registering a company includes various documents and mandatory compliances. Thus it is recommended for new start-ups to consult with experts before committing.
How to register OPC online?
To register an OPC online, applicants must first acquire a DSC and a DIN. Then u can create a director account on the MCA portal to fill SPICe+ -INC 32 to incorporate One person Company with the registrar of companies (ROC).
How much capital is required to register an OPC?
There is no minimum capital set by authorities to set up a one-person company. However minimum authorised Capital of Rs. 1 lakh is needed to start an OPC in India.
Is OPC better than Pvt. Ltd company?
The one-person and private limited companies are suited for different objectives and Goals.
The benefit of OPC is that only one person is required to start the company, and it has lesser mandatory annual compliance than a private limited.
Is it Mandatory to convert OPC into a private limited company?
If the annual revenue of an OPC is more than two crore rupees for three consecutive, then OPC must convert to a limited company.