One Person Company Registration (OPC Company) online in India within 7 days with the help of our professionals. Enjoy simple processing, fast Incorporation, Bank account opening, and, best of all, no hidden fees.
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One Person Company Registration (OPC) in India is one of the simplest forms of corporate entities to manage in case you are a single owner to run the business. OPC is a hybrid of Sole-Proprietorship and Corporate forms of business. It has been equipped with various concessions in compliance requirements under the Companies Act. It is a form of a company where the compliance requirements are lesser than a Private limited company. OPC registration is a very quick, simple and affordable registration.
In year 2013, the one-person company (OPC) structure was introduced for the first time as a refinement of the sole proprietorship firm structure. In an OPC, a single promoter gets complete control of the business, limiting his or her accountability for the company's contributions.
A One Person Company (OPC) is formed when only one person serves as both the director and the shareholder of the business. Under the provisions of the Companies Act of 2013, this concept was introduced for the first time. Furthermore, an OPC is a type of sole proprietorship firm in the form of a corporation that gives a single person ultimate authority over a business while limiting his liabilities and responsibilities.
Furthermore, a company with only one person as its director and member shall be classified as a One Person Company (OPC) under section 2 (62) of the Companies Act, 2013.
A company can be formed with just one Director and one member, according to Section 2 (62) of the Company's Act 2013. In India, One Person Company registration is a type of entity with fewer compliance requirements than a Private Limited Company.
Registering a one person company is simple and affordable through E-StartupIndia professionals.
Unlike private limited companies, you do not need to arrange two or more people for company directorship. You can incorporate one person's company alone without shaking hands with another person.
Registering One Person Company is quick, simple, and can be done online with few easy steps:
Step 1: Consult our advisors who will guide you through checking eligibility and documents requirement
Step 2: Our team will assist you find unique company name available on MCA records
Step 3: We assist you applying for DSC & DIN of the director
Step 4: Our professionals shall prepare all necessary ROC forms such as MOA, AOA, Spice , DIR, COB, etc) and file before Ministry of Corporate Affairs [MCA]
Step 5: Deliver you Certificate of Incorporation, PAN, TAN and all other necessary documents
One Person Company Registration provides various benefits beyond sole proprietor firm. The legitimacy of your business firm is enhanced by having a registered company under MCA. It assists your business in the following ways:
1. A single owner can incorporate company
2. Unlike Sole proprietor firm, Your company name is secure and can not be copied by others
3. Less compliances
4. Limited liabilities of its director
5. Suitable for Banking loans, credits
6. Less Income Tax Rate as compare to sole proprietor
7. No intervention from any third person can be involved
8. Ownership easily transferable to nominee in case of death of owner
# Indian Citizenship
The Director / Shareholder of the company must be an Indian citizen and a resident of India. NRI or Foreign Nationals can not do OPC registration in India.
# Attend Majority Age
Before One Person Company registration, the owner must attend the age of 21. Minor can not operate as its member.
# Appoint Nominee
During the OPC Incorporation, the promoter must choose and provide KYC details of a nominee.
# Minimum Capital
One person company does not require any minimum capital. You can incorporate an OPC by Rs.1/- paid up capital. However, an OPC must be registered with a minimum authorized capital of Rs. 1 Lakh.
# Unique Company Name
Your company's name must be distinct and unique. The suggested company name should not be similar to any existing registered Indian companies or trademarks
Guide how to opt right company name
There are various reasons to register your business as One Person Company:
1. There are various reasons to register your business as One Person Company:
2. Director's Personal Assets Have Limited Liability Protection
3. Easy to raise loans and overdraft limits with a better image and reputation in the market
4. No involvement of outsider third party
5. Comparatively low income tax rate compare to sole proprietor firm
6. When compared to other corporate forms of business, compliance is lesser
4. Address Proof*
5. Proof of Identity**
1. Latest electricity bill
any other utility bill in the name of the owner
2. Rent agreement b/w owner & company promoter
NOC from Owner (if owner is the company's promoter)
*For Address Proof: Bank Statement, Electricity Bill, Telephone Bill, Mobile Bill. (Anyone, not older than 2 months).
**For Proof of Identity: Driving License, Voter ID card, Passport (Anyone).
The entire process, including the approval of the DIN, company name, and incorporation, takes roughly 7-10 working days. However, creating an OPC company is now a quick process, which allows all paperwork to be loaded into a single online platform. Our professionals will guide you through the entire process of OPC Registration.
1. Verify eligibility and documents
2. Apply for DSC & DIN of the director
1. Apply for company name reservation
3. Draft Business Objectives
4. Prepare Company incorporation documents such as MoA, AoA, DIR & others
5. Share with you for approval.
1. File Spice+ form for company incorporation
2. File for Company registration forms
3. Apply for PAN and TAN of OPC
1. Wait for application processing at Government [MCA] level
2. RoC allots a certificate of incorporation with a PAN and TAN
3. Assist you in opening Company Current bank account
After OPC Registration, No need to rush at bank branch offices to open a company current bank account. We will help you to open an account in ICICI Bank while you sit at your place.
With the help of Instabill Mobile App, connect your ICICI Bank current account and do seamless bank accounting, download bank statements and check bank balance in one click.
In India, both One-Person Company (OPC) and Sole Proprietorship are forms of businesses that can be owned and managed by a single person. However, there are some key differences between these two structures.
|Sole Proprietorship Registration||One Person Company Registration|
|Sole Proprietorship is not a separate legal entity.||OPC is recognized as a distinct legal entity in the eyes of the law, and it has its own PAN, TAN, and other legal registrations|
|In a sole proprietorship, the owner is personally liable for all the debts and obligations of the business.||In an OPC, the liability of the owner is limited to the extent of their shareholding in the company.|
|Business and the owner are the same. Therefore, compliances are less as compared to OPC.||OPCs are subject to more compliance requirements than sole proprietorships. This includes the appointment of an auditor, filing annual returns, and holding regular board meetings.|
|A sole proprietorship can only raise funds from personal savings or loans||An OPC has the ability to raise funds from external sources such as venture capital firms, angel investors, financial institutions, and others. This allows the company to advance and potentially evolve into a private limited company.|
|In a sole proprietorship, income tax may||In an OPC, income tax flat rate is 25% on|
|range from 10-30% on business profit.||business profit.|
|In a sole proprietorship, the business ceases to exist upon the death or incapacitation of the owner.||In an OPC, the existence of the company is not affected by the death or incapacity of the owner. Ownership will automatically transfer to Nominee|
We have a preeminent team of professionals capable of providing a hassle-free and error-free Online Company Registration Service in India.
Since 2014, our professionals have been daily performing One Person Company Registration and keeping up to date with MCA's new registration procedures. As a result, we are able to offer you the finest company incorporation service align with MCA functionality.
We will render you full fledge company incorporation document kit at the end of delivery of the One Person Company Registration services which includes:
1. Certificate of Incorporation
2. Commencement of Business Certificate
3. Directors identification number for 1 director
4. Company's PAN and TAN
5. Digital Signature for 1 Director
6. MOA/AOA of the company
7. ROC Registration Fees Challan
It's not over yet! After that, we'll assist you with opening a current account with ICICI Bank so you can stop dealing with bank representatives demanding repetitive documents.
And set you free to kickstart your dream business.
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