One Person Company (OPC)

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One Person Company (OPC)

“One Person Company” means a company which has only one person as member. OPC will help small single entrepreneurs, who are currently operating under a proprietorship model, move to the corporate structure with benefits of limited liability but with minimal compliance. Following are some of the important attributes of One Person company:

  • Eligible to Incorporate: Only a natural person and resident of India shall be eligible to incorporate an OPC.
  • Not Eligible to incorporate: Minor, Foreign citizen, Non resident, person other than natural person and person incompetent to contract are not eligible to incorporate OPC.
  • Directors: Minimum 1 and maximum 15. A company can have more than 15 directors i.e. beyond the prescribed limit of 15 after passing Special Resolution in the Members meeting.
  • Nominee of OPC: Since OPC is a company which has only one member. Thus, a nominee has to be nominated in case of the death of the existing member or incapacity of the member to carry on the business. In such case existing member have to nominate a person by taking his consent in the prescribed form.
  • Liability: The member of the OPC have limited liability. In case of loss, the shareholder is liable to pay the amount that he is liable to pay and the remaining loss shall be borne by the Company.

Advantages of One Person Company (OPC) Company

  • One Person Company is best for budding entrepreneurs and small businesspersons.
  • One Person Company provides the limited liability protection to its sole shareholder.
  • Provides the benefit to work like Private Limited Company at low cost.
  • Credibility of One person Company is higher when compared with Sole Proprietor Firm.
  • OPC have separate legal entity and is capable of doing everything that an entrepreneur would do.
  • Minimum paperwork is needed.
  • Least compliances.
  • Only one Director is needed to start OPC.

Documents Required To Register Your One Person Company (OPC)

  • Scanned Copy of Aadhar card and PAN Card of each Director and Subscriber (Self Attested).
  • Scanned Copy of Voter ID card/ Passport/Driving License as proof of Identity of each Director and Subscribers (Self Attested).
  • Passport size photograph of each Director and Subscriber.
  • Utility Bill of the registered office premise. If the Registered office premise is rented, then Copy of the Rent Agreement is required along with Utility Bill. If the registered office is owned, Property papers are required along with the Utility Bill.
  • Utility Bill (Electricity Bill/ Mobile Bill/ Gas Bill/ Bank Statement) of each Director and Subscriber not older than one month as residential proof.
  • Scanned Copy of the No Objection Certificate (NOC) (We will provide you the format)
  • Desire name of the Company

Exemptions Available to One Person Company(OPC)

  • OPC may hold only 2 board meetings in a calendar year, i.e. one Board Meeting in each half of the calendar year with a minimum gap of ninety days between the two meetings.
  • Annual Return of an OPC can be signed by the company secretary alone, or where there is no company secretary, by a single director of the company.
  • An OPC needs not to include Cash Flow Statement as part of its financial statement.
  • OPC is not required to hold an annual general meeting.
  • It is not necessary for OPC to follow the condition laid in Section 139(2) of the Company Act 2013, which mandates the rotation of auditors every 5 years (individual auditors) and every 10 years (firm of auditors).
  • The provisions of Section 98 and Sections 100 to 111 relating to holding of general meetings, shall not apply to a One Person Company.
  • In the case of One Person Company, only one Director can signed financial statements for submission to the auditor for his report thereon.

Mandatory Annual Compliances of OPC Every Year

  • Minimum 2 board meetings in a calendar year with a minimum gap of 90 days between 2 board meetings.
  • Auditor will be appointed for 5 years in form ADT-1 within 15 days of Annual General Meeting.
  • Filing of various forms to the Registrar of Companies like DPT-3, MSME-1
  • Filing of AOC-4 for financial Statement.
  • Filing of MGT-7 for annual return.
  • Maintaining minutes and statutory register.
  • Filing of Income Tax return.

Pricing Tables

Pricing of One Person Company

Silver
Rs.6999.00all inclusive fees
  • Authorized Share Capital Rs. 1 lakh
  • 1 class three digitals
  • 1 Director Identification Numbers
  • 1 Run Name Approval
  • Incorporation Fee Stamp Duty
  • 50 set of MOA and AOA
  • Directors- KYC
  • Commencement of Business –INC -20A
  • ESI & PF REGISTRATION
  • PAN & TAN
  • GST Registration
  • Business Management Guidance
  • One Bank Current Account Opening
  • GST Invoicing Software
  • 3 months GST Return filing
  • Import and Export Code
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Gold
Rs.16999.00all inclusive fees
  • Authorized Share Capital Rs. 1 lakh
  • 1 class three digitals
  • 1 Director Identification Numbers
  • 1 Run Name Approval
  • Incorporation Fee Stamp Duty
  • 50 set of MOA and AOA
  • Directors- KYC
  • Commencement of Business –INC -20A
  • ESI & PF REGISTRATION
  • PAN & TAN
  • GST Registration
  • Business Management Guidance
  • One Bank Current Account Opening
  • GST Invoicing Software
  • 12 months GST Return filing
  • Import and Export Code
  • Financial Statement Preparation
  • Annual Return Filing –MCA
  • AGM Notice & Director Report
  • Board Resolution
  • Income Tax Return Filing
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Diamond
Rs.23999.00all inclusive fees
  • Authorized Share Capital Rs. 1 lakh
  • 1 class three digitals
  • 1 Director Identification Numbers
  • 1 Run Name Approval
  • Incorporation Fee Stamp Duty
  • 50 set of MOA and AOA
  • Directors- KYC
  • Commencement of Business –INC -20A
  • ESI & PF REGISTRATION
  • PAN & TAN
  • Udhyam Registration
  • GST Registration
  • One Bank Current Account Opening
  • GST Invoicing Software
  • 12 months GST Return filing
  • Import and Export Code
  • Financial Statement Preparation
  • Annual Return Filing –MCA
  • AGM Notice & Director Report
  • Board Resolution
  • Income Tax Return Filing
  • Deposit Return-DPT-3
  • MSME Return(2 -half yearly)
  • TDS Return Filing
  • GST Annual Report –Form 9/9A
  • Business Management Guidance
  • Human Resource Management
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