One Person Company

  • Name of the Proposed Company
  • Significance of the Name
  • Objective of the Business
  • DIN of promoter (if available)
  • Class II Digital Signatures
  • KYC of promoters
  • Identity Proof of directors
  • Address Proof of Directors
  • Authorised Capital Structure
  • Address of Registered Office alongwith proofs
  • NoC from the owner of the Registered Office of the Company
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WHAT?

One Person Company has been defined under the Companies Act, 2013, as a Company which has only one person as a member.

Any person who wish to start a business under a sole-proprietorship and also wish to avail the benefits of a Private Limited Company can go for the formation of a One Person Company.

One of the Major benefit in case of One Person Company (OPC) instead of a Sole-Proprietorship is that the Liability of the shareholder gets limited to the extent of shares subscribed by him whereas in case of sole-proprietorship there is sole liability of the proprietor without any limitation.

WHY?
Limited Laibility
Liability of the member of the OPC gets limited only to the extent of the shares subscribed by the member of the OPC.
Creditworthiness
Creditworthiness of the registered business is more than an unregistered business which facilitate finding of business.
Income Tax
The income of the company is taxed at a flat rate under Income Tax Act, 1961, whatsoever may be the turnover of the company.
Sole Owner / Controller
The member is sole owner and the whole business along with its profits are controlled and managed by only one person without any interventions of others.
Legal Capacity to Sue
An OPC has the capacity to initiate a legal proceedings against any person or entity in its own name before the court of law.
HOW?

One Person Company is registered under the provisions of the Companies Act, 2013 through the procedure prescribed under the Act and Rules and Regulations made there under.

  • Step1: Name Approval: - The proposed name of the Company is applied by the promoter by paying requisite fee online through RUN(Reserve Unique Name) Web Service The applied name will be processed by the Central Registration Centre(CRC) and thereafter approval or rejection will be communicated to the applicant.
    To avoid rejection, the name should be as per the guidelines provided under Companies (Incorporation) Rules, 2014.
    Once the name is approved the said name will be available for 20 days within which the incorporation process has to be completed.
    The name of the One Person company must end with the words "(OPC) Private Limited".
  • Obtaining Digital Signatures: - Digital Signatures of the member needs to be obtained for the incorporation of the Company. For obtaining the Digital Signature following KYC details are required:
    1. Identity Proof, i.e., PAN Card (Self Attested)
    2. Address Proof, i.e., Aadhar Card (Self Attested)
    3. Photographs
    4. Valid Phone Number
    5. Valid E-mail id
  • Step 3: Documents preparation: - Once the name gets approved by the department, the documents are prepared as per the guidelines given under the Act / Rules for the incorporation of the Company.
  • Step 4: Incorporation: - Incorporation of the Company is done through e-form namely Simplified Proforma for Incorporating Company electronically (SPICEe). Thus, after preparation of documents Form SPICe - INC-32 will be filed along with eMOA (INC-33) and eAOA (INC-34) with the Central Registration Centre(CRC) of Ministry of Corporate Affairs by paying the requisite Stamp duty charges.
  • Step 5: Certificate of Incorporation: - Once the entire process is completed and the concerned department is satisfied by the all the compliances, The Certificate of Incorporation will be issued along with the allotment of PAN (Permanent Account Number) and TAN (Tax Deduction Account Number) of the Company, after which the proposed company will become a separate legal entity to transact the business in its own name.