One Person Company

You​ ​too​ ​can​ ​open​ ​a​ ​One​ ​Person​ ​Company​ ​-​ ​Here’s​ ​how!

If you think you are a one-man army, and can handle situations single-handedly, you are truly one of a kind. If you truly possess a burning desire to succeed, you are bound to reach the summit. In a generations of startups and entrepreneurs, starting out on a business venture alone is the trend.

You will be glad to learn that you can now establish a One Person Company (OPC) in India, that too with the minimum cost and hassle. Among all other provisions of the new Companies Act, entrepreneurs and start-ups seemed to sit on the edge of their seats for this one. Let us tell you why.

One Person Company is a type of business entity in which there is only one owner with limited liabilities. This one person act both as a shareholder as well as the director. The purpose of OPC concept is basically to eradicate the limitation of a sole proprietorship, which is the most popular form for small businesses in India. In a One Person Company, the liability of owner is limited to the invested capital in this form.

If you are the independent entrepreneur types, and want to establish your business without involving any other person, then choosing to establish a One Person Company ​(OPC) will be the right thing to do.

Before the OPC concept was introduced in India, people would invariably choose Proprietorship as their form of business. Proprietorship has its own share of disadvantages, and this kind of business is not trustworthy in India anymore. But don’t lose heart yet, One Person Company (OPC) is the perfect answer to the problems associated with Proprietorship.

One Person Company has following features and restrictions:

● It allows a significant degree of separation between operations and ownership.
● Less compliance is needed as compared to a private limited company.
● It proves useful for small entrepreneurs who directly access target market.
● Banking and financial institutions prefer to lend money to the company instead of
    proprietary firms.
● It makes decision-making process much faster because of single ownership.
● The owner can anytime convert OPC to a private limited company with ease.

Basic​ ​requirements​ ​for​ ​One​ ​Person​ ​Company:

1. Minimum 1 Shareholder is necessary.

2. Minimum 1 Director is necessary.

3. The director and shareholder is the same person.

4. Minimum 1 Nominee is required.

5. Only an Indian resident can be a Shareholder & Nominee.

6. Minimum 1 Director must be an Indian Resident.

7. Minimum Authorised Share Capital to be Rs. 1 Lakh is required.

8. DIN (Director Identification Number) for the Director is mandatory.

9. DSC (Digital Signature Certificate) for 1 Promoter & 1 witness is mandatory.

Benefits of One Person Company

Limited​ ​Liability​ ​Protection​ ​to​ ​Director’s​ ​personal​ ​assets

In case of a One Person Company, your liability, in case the business fails, is limited to only the business assets. In case of a proprietorship, the liability is unlimited and the creditors of your business can even take hold of your home and personal assets, which can be used to settle the business liabilities.

Helps​ ​for​ ​Testing​ ​of​ ​Business​ ​Model​ ​and​ ​Enables​ ​Funding

Setting up a One Person Company helps startups and entrepreneurs test their business model easily, and once they build a marketable product, they approach Angel investors, Venture capitalists for funding and easily convert their OPC into a Private Limited Company.

Better​ ​image​ ​and​ ​credibility​ ​in​ ​Market

In India, OPC is viewed as a Private limited company, which is a popular and well-known business structure. Corporate customers, vendors and government agencies prefer to deal with a Private Limited Company rather than proprietorship firms.

Complete​ ​Control​ ​of​ ​the​ ​Company​ ​with​ ​a​ ​Single​ ​Owner

This leads to fast decision making and execution. Also, OPC can appoint up to 15 directors for administrative functions, without giving any share to them.

Easy​ ​to​ ​Manage​ ​and​ ​Freedom​ ​from​ ​Compliances

OPC is one of the easiest forms of corporate entities to manage. Very less filing with the Registrar of Companies (ROC) is necessary. Also, there is no mandate to conduct Annual General Meeting (AGM) and other regular compliances.

Easy​ ​to​ ​Sell​ ​OPC

A One Person Company is quite easy to sell, incurs very less documentation and the cost involved is quite less.

Necessary​ ​Documents​ ​for One Person Company Registration

PAN Card

PAN card of each Director and Shareholder.

Identity Proof

Identity Proof of each Director and Shareholder - Aadhaar Card/Voter ID Card/Driving License.

Address Proof

Residence proof of each Director and Shareholder - Utility Bills such as Electricity/Telephone/Bank Statement (not older than 2 months).

Registered Office Address Proof

Address proof of the Registered Address of Company - Rent Agreement and Utility Bill of same address in name of landlord - NOC from the landlord/director.

RS. 12,999/-
RS. 8,499/- (All Inclusive)

Get Started

* The above mentioned cost is based on calculation of Rs. 1lakh as minimum contribution. Price will change on increasing the contribution and state stamp duty.

Question? Call us 8447037100

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Check out what's in the kit for you.

  •   New Incorporation Kit
  •   Incorporation​ ​Certificate​
  •   Digital signature
  •   MOA​ ​&​ ​AOA​
  •   Company PAN Card
  •   Company TAN/TDS Number
  •   1 RUN web form name approval
  •   Bank Account Opening Assistance
  •   Accounting Software Assistance

RS. 12,999/-
RS. 8,499/- (All Inclusive)

Get Started

* The above mentioned cost is based on calculation of Rs. 1lakh as minimum contribution. Price will change on increasing the contribution and state stamp duty.

Question? Call us 8447037100

​Registration​ ​Process

5​ ​WORKING​ ​DAYS

The director has to apply for the Digital Signature Certificate (DSC), which is necessary to file for the One Person Company registration documents. For this, you will only need to provide a few scanned documents and details. This process should ideally not take more than 5 working days.

7​ ​WORKING​ ​DAYS

As soon as you apply for the DSC, you will be asked to pick a name for your company, and send some scanned documents regarding it. These will be used to file SPICe INC-32 and the Memorandum of Association (MOA) and Articles of Association (AOA). The Certificate of Incorporation is approved at the end of this process, which usually takes 7 working days.

2​ ​WORKING​ ​DAYS

Every company needs a registered Permanent Account Number (PAN) and Tax Account Number (TAN). You will need to courier hard copies of the filled forms of PAN and TAN documents. The PAN and TAN will be couriered to the your registered office address.

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