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One Person Company (OPC) Registration


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OPC Requirements

  •    Only a natural person who is Indian Citizen and resident in India can incorporate OPC.
  •    Resident in India means a person who had resided in India for a period not lesser than 182 days in the prior calendar year.
  •    Legal entities like Company or LLP cannot incorporate a OPC.
  •    The minimum authorised capital is Rs 1,00,000.
  •    A nominee must be appointed by the promoter during incorporation.
  •    Businesses involved in financial activities cannot be incorporated as a OPC.
  •    OPC must be converted to a private limited company when paid-up share capital exceeds Rs.50 lakhs or turnover crosses Rs.2 crores.

Nominee in One Person Company

The rules for incorporation of one person company requires that the sole member of a One Person Company should include the name of a nominee in the Companies MOA, who will undertake the entity after the expiry or incapacity of the former. Moreover, the document must contain the written consent of the nominee, which must also be filed with the Registrar during incorporation along with the MOA and AOA.

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 an 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 Private Limited 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.