One Person Company Registration

The definition of a One Person Company is explained in Section 2(62) of the Companies Act, 2013, which states: “One Person Company means a company which has only one person as a member.” To put it simply, an OPC or One Person Company is a business format where a single person owns the company. There can never be more than a single member in such a company at any given time. Additionally, the OPC’s sole owner can also be its director. 

However, it isn’t a mandatory requirement and if the OPC owner believes that appointing a separate director would improve management or bring in additional expertise, they may choose to do so. An OPC can have a maximum of 15 directors. Being a single-owner company, an OPC is easy to manage. If you are an entrepreneur who seeks independent success, you can register your business as an OPC by completing the OPC registration online process in India.

Unlike a Private Limited Company, OPC registration does not require a minimum of two directors. However, like a Private Limited Company, One Person Company registration in India provides you with limited liability protection. The process of One Person Company registration in India is fairly simple and requires the completion of just a few steps. 

All you need to do is apply for DSC and DIN, then submit the company name for approval, collect all the required documents and file the form on the MCA website. If the authority finds the application and documents correct, the RoC grants your company the status of a One Person Company and provides you with the certificate of incorporation in the OPC’s name.

Types of OPC You Can Form

As per the companies act 2013, there are five types of OPCs you can form:

• OPC Limited by Shares
• OPC Limited by Guarantee with Share Capital
• OPC Limited by Guarantee without Share Capital
• Unlimited OPC with Share Capital
• Unlimited OPC without Share Capital

Benefits of a One Person Company Registration

After the online registration of One Person Company in India, the following benefits can be enjoyed:

Eligibility Criteria for OPC Registration in India

Before you can register OPC (One-Person Company), there are some requirements that you need to keep an eye out for. Following are the OPC registration requirements that you need to know:

• A minor cannot form an OPC in India. According to the law, minors are not capable of forming a company. Therefore, for OPC registration, the owner must be at least 18 years of age.
• The sole member must have stayed in India for at least 182 days during the preceding financial year.
• An OPC should not have more than one member. A nominee is appointed who can take over in case the member becomes incapable of carrying out company activities or dies.
• A natural person who is an Indian citizen and a resident of India can become a nominee in an OPC. An artificial person cannot become an OPC’s nominee.

Compliances of One Person Company

After successful One Person Company registration, the following compliance requirements need to be fulfilled by the company:

• Within 180 days of incorporation, the OPC must file INC-20A form for commencement of business.
• After OPC formation, fulfilling annual compliance requirements is necessary to avoid penalties. This includes filing of financial statements (AOC-4) and annual return (MGT-7) with the RoC.
• OPCs are exempted from holding annual general meetings.
• OPC director(s) possessing DIN must submit Form DIR-3-KYC by September 30th of the following financial year.
• At least one board meeting shall be conducted by OPC in each half of the calendar year. A minimum 90-day gap must exist between meetings.

Documents required for One Person Company Registration in India

The following are the documents required for One Person Company (OPC) Registration:

Other documents required to submit by a company are as follows

Process to Register a One Person Company

Following is the procedure for incorporating a One-Person Company in India:

1. Apply for the Digital Signature Certificate (DSC)  of the director. The documents required for this are Address proof, Aadhar Card, PAN card, photo, Email ID, and Phone number.
2. Apply for the Director Identification Number (DIN) of the director in the SPICe+ Form along with the name and address proof. The Form DIR-3 can be applied for up to three directors.
3. The name must be incorporated in Form SPICe+ 32 application. If the name got rejected then the next name will be applied by filling another SPICe+ 32 Form.
4. Prepare all the documents stated above to proceed further in the registration process.
5. Along the document must be attached with the SPICe+ Form, SPIC2-MOA, and SPICe-AOA along with the DIN and DSC number. All of these documents should be uploaded on the MCA site.
6. After incorporating, PAN and TAN numbers will be generated automatically. There is no need to file a separate application to obtain these numbers.
7. Once the verification will be done, the Registrar of Companies will issue a Certificate of Incorporation. After this, you can commence your business.

Our Assistance in registering a One Person Company in India

At Registrationwala, we provide end-to-end solutions for the registration of a One Person Company. Our OPC registration services include:

• Company name research
• Obtaining DSC and DIN
• MOA and AOA drafting
• Application filing
• Following up with the Ministry of Corporate Affairs

We are a team of leading business experts in India.Through our OPC incorporation process, your online OPC company registration in Delhi can be started on time, and the dream of your solo company can be realized.

If you want to register a One Person Company in a smooth and hassle free manner, get in touch with Registrationwala as soon as possible!

Frequently Asked Question

Q1. How does one register for a One Person Company incorporation in India?

A. Following is the procedure for incorporation of a One Person Company in India

1.  Choose a unique name
2. Choose a nominee for the One Person Company formation
3. Reserve the name using the RUN application
4. Obtain the DSC and DIN of the director
5. Draft MOA and AOA
6. Submit the online application
7. Assessment of the application by MCA

Q2. Which Act introduced the concept of One Person Company (OPC)?
A. The concept of One Person Company was introduced by the Companies Act, 2013. Under the Act, OPC is recognized as a legal entity in India.

Q3. How many OPCs can be owned by an individual?

A. An individual can only own one OPC at a time.

Q4. Who is eligible to act as an OPC member?

A. Only a natural person who is an Indian citizen and resident in India is eligible to act as an OPC’s member and nominee.

Q5. How can I inform the Registrar of Companies (ROC) about change in an OPC’s membership?

A. In case of cessation of member of OPC on account of death, incapacity to contract or change in ownership, the company shall file form INC-4. In the same form, the details of the new member of the OPC need to be provided. 

Q6. What is the difference between OPC vs Private Limited Company?

A. An OPC is a single-member company incorporated under the Companies Act, 2013. In contrast, a Private Limited Company, also incorporated under the same Act, requires at least two members for incorporation. This is the most basic difference between them.