One person Company (OPC) Registration @ 5,999

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OPC Registration is easy when done by RPG Legal. Register your one person company while sitting at home. Our dedicated team will assist you in registering your company across India at a very affordable price. We extend our support from documentation to preparation and filing through 100% online process.

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One person Company (OPC) Registration in India

One Person Company (OPC) allows an Individual entrepreneur to operate as a corporate entity with limited liability procurement.
The concept of One Person Company (OPC) in India was introduced in 2013 through the Companies Act, 2013 to assist entrepreneurs who are capable of starting a venture and want to create a single person economic entity. The most significant advantage of a One Person Company (OPC) is that there can be only one shareholder, while a minimum two persons is required to incorporate a Private Limited Company or a Limited Liability Partnership (LLP). One Person Company is a separate legal entity and granting limited liability protection to its sole shareholder while having continuity of business and being easy to incorporate.
Thus, One Person Company is the preferred vehicle for Individual entrepreneurs, for any industry or activities such as Trade, Service & Manufacturing.

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Advantages of One person Company (OPC)

Limited Liability

OPC is an alternative corporate form of business that gives the benefits of limited liability as a Private limited company as well as the flexibility of proprietorship firms. In proprietorship owner’s personal assets are at stake, and if any misfortune happens, he needs to bear all the loss. While in OPC, the liability of the owner is limited.

Complete Company Control

In One person company there is only one owner and they are allowed to have employees. The Owner controls decision making and everything that goes on in the business and does not have to seek the approval of a board of directors, stockholders or anyone else. That leads to fast decision making and execution resulting the rapid growth of the company.

No Minimum Capital

Companies Act, 2013 prescribes the minimum share capital for private company registration. Where the minimum criteria are provided to keep Rs 100,000 as Authorized Capital, the requirement of minimum paid-up capital is removed by said Act. No minimum paid-up capital is prescribed, and it should be based on business requirements.

Separate Legal Entity

One Person Company (OPC) allows an Individual entrepreneur to operate as a corporate entity. One Person Company (OPC) distinguished itself from its promoter and having continuity of business. However, In the event of death or retirement of the owner, The Nominee mentioned in the memorandum of association will become a member of the company.

Borrowing Capacity

One Person Company have a Private Limited Structure i.e. the most popular business structure and gives suppliers and consumers a sense of confidence in business. Banking and financial institutions prefer to lend money to the company rather than proprietary firms. It is always better to register your startup as a One Person private limited rather than a proprietary firm.

Less Compliance burden

OPCs have been provided with a number of exemptions. The provisions of Sec. 98 and Sec. 100 to Sec. 111, relating to holding of annual general meetings, shall not apply to One person company. Resulting to that they have to file audited financial statements with the MCA at the end of each Financial Year. Hence OPC have a lesser compliance burden.

Documents Required to Register a One Person Company (OPC)

Documents (1)

Documents of Promoter and Nominee

Two colour photograph of each Promoter
Copy of PAN Card of each Promoter
Identity proof of each Promoter (Voter ID / Driving License/ Passport)
Latest address proof of each Promoter (Bank Statement / Electricity, Mobile, Telephone Bill)

Documents of Registered Address

Utility Bill in name of the owner to the establishment
NOC from the Owner of the establishment
Rent Agreement or
Lease deed, sale deed, Property Tax Receipt

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Process for One Person Company Registration (OPC)

Step 1 – Documentation and Questionnaire

Our Relationship Manager will reach out to you for the collection of the required information & documents of the promoter for registration of the Company. Data & documents can be submitted online. Once data is received, it is verified by our secretarial team and ensures that the documents are updated and accurate.

Step 2 – Obtaining Digital Signatures

The filing process starts with the issue of a digital signature of the promoter of the proposed company. Our digital signature application is completely online & OTP based, the applicant would have to complete OTP verification and a video KYC check.

Step 3 -Filing for Name Availability

The first step to incorporate One Person Company (OPC) is the reservation of the name. RUN (Reserve Unique Name) form needs to file for ascertaining availability and reservation of the name of the Company. It is a web-based application form and where two names in order of preference can be filed with the Main object of the business. The proposed name must be unique and should not be similar to an existing company or LLP name or a Trademark

Step 4 – MOA and AOA drafting

Once the name is approved, We draft Memorandum of association and Articles of Associate. MOA is the legal document that needs to be filed with the Registrar of Companies at the time of incorporation of the Company. MOA also defines its relationship with shareholders. Memorandum of association is accessible to the public and describes the Company’s name, address of registered office, names of shareholders and the shareholding. AOA serves as the constitution of the Company that defines all the rules and regulations that must be complied by the Company.

Step 5 – Filing for Incorporation

Once the name of the business is deemed as reserved by the Registrar of Companies, an application for registration of Company along with the signed form & Documents need to file in Spice e-Form on MCA portal followed by paying the prescribed fee. The Government fee for company Registration depends on the proposed capital of the Company. On submission of the complete documents, the Registrar after satisfying will register the Company and will issue a certificate of incorporation. The Ministry has also integrated the System with the CBDT. On approval of SPICe forms, the Certificate of Incorporation is issued with PAN and TAN as allotted by the Income Tax Department. However, the physical PAN card is directly dispatched to the registered address of the Company.

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FREQUENTLY ASKED QUESTIONS

What are the minimum requirements to be a director in the Company?

A Private Limited shall have a minimum of two directors and maximum 20 (needs to be over 18 years), and they must be a natural person, and at least one of them shall be a resident in India. [body corporate may become a shareholder of Company}

Can One person company (OPC) incorporate for “Not-For-Profit” activities?

No, a One person company (OPC) can not incorporate for ‘Not-for-Profit’ activities. For “Not-For-Profit” activities, promoters can go for Section 8 company.

What is a Digital Signature Certificate (DSC)?

DSC is a secure digital key that is issued by the certifying authorities to validate signing and certify the identity of the person electronically while filing documents in e-forms.

What is the Director Identification Number (DIN)?

Director Identification Number (DIN) is a unique identification number and allotted by the Ministry of corporate affairs to the person who wishes to appoint as a director of a Company. DIN never expires, and a person can have only one Director Identification Number (DIN).

Can an NRI or Foreign National become a Director in One person company (OPC)?

No, Only a natural person who is an Indian citizen and resident in India shall be eligible to incorporate a One Person Company; The same condition is applied with the nominee.

Who can be a nominee in One person company?

The director has the right to choose the nominee, and it can be anyone such as your spouse, siblings or parents. The nominee will need to provide identity proof during registration.

Can Virtual Office or Co-working office addresses be registered as an office of the Company?

Companies need a physical mailing address to register their businesses. A registered office address is required at the time of incorporation and must be maintained by the Company. Every Company needs to maintain books of account and statutory records at its registered office. Hence it should be a lockable area.

How much time will be taken to register One Person company?

Nowadays, it is very easy to incorporate a company through mere filing simplified e-form (SPICe) electronically. The Ministry has also integrated the System with the CBDT. On approval of SPICe forms, the Certificate of Incorporation is issued with PAN and TAN as allotted by the Income Tax Department. More than 90% of applications are being approved within one working day.

What are the applicable income tax rates for One Person Company ?

Private Limited Companies are treated as a separate legal entity and must also register as a taxpayer on its own. Private Limited companies are taxed at a rate of 22.5% on taxable income.

What is authorised capital of a Company?

The Authorized Capital means a maximum amount of capital that a company can raise through the issue of shares to the shareholders.
Authorised capital can be increased at any point of time in future by following necessary steps as prescribed in the Companies Act 2013.

What is Paid capital of a Company?

Paid-up capital is an amount of money which has received from shareholders in exchange for shares issued to the shareholders and payment was made by the shareholders.

Under which condition the One person company has to convert into a Private Limited Company?

One Person Company must be converted into a Private Limited Company if it cross any of the following limits;
if it crosses an annual turnover of Rs. 2 crores.
OPC can have maximum Paid up share capital of Rs. 50 Lakhs, In case, paid-up capital go beyond Rs 50 Lakhs, it has to converted into a private limited company.