Updated on October 17, 2022 06:00:28 PM
One Person Company (OPC) is a type of private limited company which can be formed with just one person who will act as director and shareholder of the company. The need for one person company arised due to the limitations of sole proprietorship firm which is the most popular form of business registration for small businesses in India. Unlike private limited company or an LLP where at least 2 people are required, entrepreneurs can now incorporate their company with one person only.
One Person Company - Incorporation Certificate [Sample]
One Person Company or "OPC" is a kind of private limited company which is registered under the Companies Act, 2013. It can be registered with a single person who acts both as the director as well as shareholder of the company. OPC company use "opc private limited" or "opc pvt ltd" at the end of their company name because it is a private company owned by single person.
Earlier in a private limited company, a minimum of 2 directors and 2 members were required. A single person could not form a private company. But a new concept of OPC was introduced as per Section 2(62) in the Company’s Act 2013 where a single person can form a private limited company.
One person company incorporation is a complete digital process and therefore requirement of Digital Signature Certificate is a mandatory criteria. The person who would act as director and subscriber to the memorandum of the company needs to apply for a DSC from the certified agencies. Obtaining a DSC is a complete online process and it can be done within 24 hours. This process involves 3 simple verifications that are document verification, video verification and phone verification.
Name application for one person company can be done through SPICe RUN form which is a part of SPICe+ form. While making the name application of the company, industrial activity code as well as object clause of the company has to be defined.
Note: It should be ensured that business name does not resemble the name of any other already registered company and also does not violate the provisions of emblems and names (Prevention of Improper Use Act, 1950). You can easily check the name availability by using our company name search tool to verify the same.
Post name approval, details with respect to registration of the company has to be drafted in the SPICe+ form. It is a simplified proforma for incorporating a company electronically. The details in the form are as follows:
SPICe e-MoA and e-AoA are the linked forms which have to be drafted at the time of application for company registration.
Memorandum of Association (MOA) is defined under section 2(56) of the Companies Act 2013. It is the foundation on which the company is built. It defines the constitution, powers and objects of the company.
The Articles of Association (AOA) is defined under section 2(5) of the Companies Act. It details all the rules and regulations relating to the management of the company.
Post approval of the above mentioned documents from the Ministry of Corporate Affairs; PAN, TAN & Certificate of Incorporation will be issued from the concerned department. Now, the company is required to open a current bank account by using these documents. You can contact us for assistance with your current bank account opening.
The process of registering a One Person Company is complicated and involves various compliances. Our experts at Professional Utilities can simplify the whole registration process for you. Register your OPC online in 3 easy steps:
As per the Companies Act 2013, there are minimum requirements that need to be met for one person company incorporation online.
For incorporating your business as a One Person Company, you need to provide proper identity and address proof. The documents are required to be submitted to the Registrar of Companies.
Post incorporation of one person company, you’ll receive the following documents:
The total cost of One Person Company registration in India, including government and professional fees, starts from ₹4,999 and takes around 7-10 working days.
|Digital Signature Certificate||₹1,200|
On average, it takes around 7-10 working days to register a one person company or opc company in India subject to document verification by the Ministry of Corporate Affairs (MCA).
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You can either register a Proprietorship Firm or a One Person Company. After choosing the entity type, you’ll need to provide proper documents and proofs along with professional certifications to MCA portal.
Yes, a single person can form a company by registering a one person company or sole proprietorship. The type of business entity will depend on the business requirements.
A single person can form a private limited company and enjoy all the benefits of Pvt Ltd Company. Some of the main benefits are limited liability, separate legal entity, credibility and tax benefits.
Yes, an OPC can be easily converted into Pvt Ltd company.