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One Person Company (OPC) Registration

The" One Man Show". One person company (OPC) means a company formed with only one (single) person as a member, unlike the traditional manner of having at least two members in a company.OPC is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder.It is registered under the guidelines Ministry of Corporate affairs."

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How to register One Person Company (OPC) ?
 An Individual can operate through and MCA organised manner of business. Call CA helps you to register an OPC in following three steps :
Step 1 Concept and Docs Required

We help you to understand the concept of OPC and We help you to gather necessary docs for registering an OPC , obtain DIN & DSC

Step 2 Name reservation and Uploading Forms

After getting required docs, Call CA helps you to choose correct name , prepare and upload MOA AOA and other requite statutory docs for registration

Step 3 Registration and Compliance

We help you to complete the registration process and guides you for further compliance's and help you to be compliant for statutory liabilities.

The Concept of One Person Company

To empower enterpreneurs who on their own are capable of developing ideas, for that enterpreneus the concept of One Person Company introduce under Companies Act, 2013 where a sole propreitor can enter into the corporate framework.The One Person Company registration is much more smother as there is lesser documentation and lesser forms. Such companies are generally created when there is only one founder/promoter for the business. Entrepreneurs whose businesses lie in early stages prefer to create OPCs instead of sole proprietorship business because of the several advantages that OPCs offer.

Requirements of registering OPC

The following are general requirements for formaing an OPC :
  • Only a natural person who is resident of India (who resided in India not less than 182 days) incorporate OPC.
  • OPC cannot carry on NBFC related activities.
  • No OPC can acquire/invest in securities of body corporate.
  • OPC cannot allot shares to anyone except its member.
  • A nominee (not minor) must be appointed by promoter.
  • OPC converted into private limited company when paid up capital exceeds 50 lakhs or turnover crosses 2 crores.

Documents required for OPC Registration

Directors:
  • PAN Card
  • Address proof- Aadhar Card/ Voter Identity Card/ Passport/Electricity Bill/ Pospaid Mobile bill/Telephone Bill/Gas bill/Water Bill.
  • Residential Proof- Bank Statement/Electricity Bill/ Telephone Bill/ Postpaid Mobile bill
Note: The documents provided not older than 2 months

Registered Office Proof:
  • Tittle Deed
  • Lease/ Rent Agreement with rent receipt not older than 1 month in the name of company.
  • NOC from owner of property.

FAQs

How to inform ROC about change in membership of OPC?

The company shall file form INC-4 in case of cessation of member of OPC on account of death, incapacity to contract or change in ownership. In the same form, user needs to provide details of the new member of the OPC.

Is there any threshold limits for an OPC to mandatorily get converted into either private or public company ?

In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into private or public company.

A person can be a member in how many OPC ?

A person can be member in only one OPC.

Which form is to be filed in case of withdrawal of consent by the nominee of an OPC or in case of intimation of change in nominee by the member ?

Form INC-4 shall be filed in case of withdrawal of consent by the nominee or in case of intimation of change in nominee by the member.

Is there any form that is to be filed for conversion of an OPC into private or public company? Is there any other purpose for filing this form ?

Form INC-6 shall be filed by an OPC for conversion of an OPC into private or public company. Yes, the private company will also file form INC-6 for converting itself into an OPC. The paid up share capital of private company should not be exceeding fifty lakh rupees and should not have average annual turnover more than two crore rupees at the time of such conversion into OPC. The company shall be having one member and shall appoint one nominee to act as member in case of death or incapacity of the member at the time of conversion into OPC.

Advantages of OPC

Before the commencement of One Person Company in India, the Limited Liability and Continuous Existence feature was only available to a Private Limited Company or Limited Liability Partnership or a Limited Company. With the commencement  of One Person Company, the limited liability and continuous existence feature is now also available for One Person Company, which is an entity with just one member. OPC has the following advantages and exemptions under the Companies Act:
  •     They do not have to hold annual general meetings.
  •     Their financial statements need not include cash flow statements.
  •     A company secretary is not required to sign annual returns; directors can also do so.
  •     Provisions relating to independent directors do not apply to them.
  •     Their articles can provide for additional grounds for vacation of a director’s office.
  •     Several provisions relating to meetings and quorum do not apply to them.
  •     They can pay more remuneration to directors than compared to other companies.
 

 OPC & Sole Proprietorship Difference

A sole proprietorship form of business might seem very similar to one-person companies because they both involve a single person owning the business, but they’re actually exist some differences between them.

The main difference between the two is the nature of the liabilities they carry. Since an OPC is a separate legal entity distinguished from its promoter, it has its own assets and liabilities. The promoter is not personally liable to repay the debts of the company.

On the other hand, sole proprietorships and their proprietors are the same persons. So, the law allows attachment and sale of promoter’s own assets in case of non-fulfilment of the business’ liabilities.

How Call CA Helps

Call CA helps you to get free  consultancy from experts. We provide online services of CA, CS & Lawyer like Company Registration, trademark, Accounting Legal Documentation, Web Policies, Statutory Compliance and Govt. Registrations etc. We start the registration  Process application within 24 Hours. We Understand Startup conceot & their needs and deliver accordingly. We are  commited for quality services at value for money.
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