Vakilsearch helps you to register One Person Company in India in 3 simple steps.
We reserve the name of your company, and help you obtain the DSC and DIN.
We draft and file the documents required for your OPC registration (MoA, AoA, PAN & TAN).
We help you with the post-registration formalities and compliances.
The One Person Company (OPC) in recent times was launched as a good refinement over the sole proprietorship. In OPC, a single promoter gains full authority over the company thereby restricting his/her liability towards their contributions to the enterprise. Therefore, the said person will be the sole shareholder and director (however, a director nominee is present, but has zero power until the real director proves incapable of getting into the contract). Also, there can be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC company has an average hattrick turnover of Rs. 2 crores and over or acquires a paid-up fund of Rs. 50 lakh and over, it has to be converted to a private limited company or public limited company within six months.
The director of the OPC should submit the scanned transcripts/ copies of the following documents mandatory for OPC registration-
Please Note: The first 3 documents should be self-attested by the OPC director. All the documents for a foreign national or an NRI must be notarized (if residing in India or a non-Commonwealth country at present) or apostilled (if living in a Commonwealth country at present).
Documents Necessary For The Registered Office
Note: Your office space which is registered needs to be a commercial area; however, it can be your house of residence as well
The directors' personal property is always safe in a private limited company, no matter the debts of the business.
Sole Proprietorships come to an end with the death of the proprietor. As an OPC company has a separate legal identity, it would pass on to the nominee director and, therefore, continue to exist.
As an OPC needs to have its books audited annually, it has greater credibility among vendors and lending institutions.
5 Business Days
Firstly, the OPC director should petition or apply for the DSC otherwise known as Digital Signature Certificate, which is mandatory to file for the company registration records. For this to come through, one only needs to submit a few scanned documents; after which our agents will file the form by filling it and put it online for submission.
7 Business Days
Once the application for the DSC is done, our agents will ask you to choose a name for your business and send us the relevant scanned documents for the same. The sent documents will be used to file for the SPICe i.e. INC-32 and the MoA is otherwise known as the Memorandum of Association and the AoA also known as the Articles of Association. Finally, at the end of this process, the Certificate of Incorporation will be processed and approved.
2 Business Days
All companies need a registered PAN or Permanent Account Number and TAN or Tax Account Number. The application will be filed online by our representatives, however, you will be asked to courier the hard copies of the relevant and required documents yourself. Post the processing, the TAN and PAN will be dispatched to you to your registered office address only within 21 business days.
15 Business Days
Talk to us and let us know a little bit more about your company and rest assured. You will have the certificate of incorporation within 15 business days. It is very fast and very simple. Additionally to your request, we will be handling in and around 450 requests this month.
9.1 Customer Score
We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.
160 Strong Team
Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we'll try to ensure that your doubts are cleared before they even arise.
Parliament Passes Law For The Formation Of One-Person Companies
18 November 2020
After Commerce Minister, Tipu Munshi, pushed the ‘Companies (2nd Amendment) Bill, 2020’ to the parliament, it was approved and passed with a provision for the formation of ‘One-Person Companies’. This will pave the way for more investments, and improve company rankings for global ease of doing business. As per the newly-passed bill, the company’s owner and shareholder shall be a single person.
30th March: Companies (Amendment) Bill, 2020
Section 446B of the Act has been amended. The monetary penalty has been reduced for start-up, one Person Company, producer, and small companies. This will facilitate ease of doing business.