One Person Company

(3 customer reviews)

One Person Company

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₹12,999.00

Product price: ₹12,999.00
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One Person Company

(3 customer reviews)

 

 

What is a One Person Company (OPC)?

A One Person Company (OPC) is a distinct form of company formation introduced in the Companies Act of 2013 in India. It allows a single promoter to have complete control over the company, serving as the sole shareholder and director. Although a director nominee may be appointed, they have no authority unless the real director is unable to fulfill contractual obligations. OPC operates as a hybrid structure, combining the advantages of a sole proprietorship and a company.

It has only one member who acts as both director and shareholder. OPC provides solo entrepreneurs with the benefits of a private limited company, including access to credit, bank loans, limited liability, legal protection, and market access. However, it does not allow for contributions to employee stock options or equity funding. Moreover, if an OPC’s consecutive 3-year average turnover exceeds Rs. 2 crores or its paid-up capital is Rs. 50 lakh or more, it must convert into a private limited or public limited company within six months.

 

Advantages of Establishing a One Person Company

Benefits of Registering a Private Limited Company

  1. Separate Legal Existence: The company is recognized as a separate legal entity distinct from its owners, providing legal protection to shareholders.
  2. Limited Liability of Shareholders: Shareholders’ liability is limited to their investment in the company, safeguarding personal assets against business debts and obligations.
  3. Continuous Existence: The company enjoys perpetual succession, unaffected by changes in ownership or management, ensuring stability and continuity.
  4. No Requirement for Regular Meetings: Private Limited Companies have more flexibility as there’s no mandatory need for frequent board meetings, annual general meetings, or extraordinary general meetings.
  5. Less Compliance: Compared to other business structures, Pvt. Limited Companies generally have fewer compliance requirements, reducing administrative burden.
  6. Easy Fundraising: Pvt. Limited Companies have better access to funding from investors, banks, and financial institutions due to their structured setup and legal recognition.
  7. Enhanced Trust and Credibility: Being a Pvt. Limited Company enhances trust and credibility among vendors, clients, and lending institutions, facilitating smoother business operations and collaborations.

 

What are the prerequisites for establishing a One Person Company (OPC)?

Requirements for Registering a One Person Company (OPC):

  1. At least 1 Shareholder
  2. At least 1 Director
  3. Minimum 1 Nominee
  4. No minimum capital requirement, but the OPC should have a minimum authorized share capital of at least Rs. 1 lakh
  5. The company name must be unique and distinct from any existing company name or trademark

Note: The Director and Shareholder can be the same individual.

 

Comprehensive Guide to Registering a One Person Company (OPC)

Step-by-Step Process for Registering a One Person Company (OPC) under the Ministry of Corporate Affairs:

  1. Application for DSC (Digital Signature Certificate): Obtain a Digital Signature Certificate for the proposed director(s) from authorized agencies.
  2. Apply for DIN (Director Identification Number): Apply for Director Identification Number for the proposed director(s) through the MCA portal.
  3. Application Filing for Name Availability: Submit an application for the availability of the proposed company name through the MCA portal. Ensure the name complies with naming guidelines.
  4. Drafting and Filing of eMoA and eAoA: Prepare and file the electronic Memorandum of Association (eMoA) and Articles of Association (eAoA) incorporating necessary clauses and details of the company.
  5. Apply for PAN and TAN of the Company: Apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the company through the NSDL portal.
  6. Certificate of Incorporation Issued by RoC along with PAN and TAN: Once all documents are verified and approved, the Registrar of Companies (RoC) issues the Certificate of Incorporation along with PAN and TAN.
  7. Open a Current Bank Account in the Company Name: Use the Certificate of Incorporation and other relevant documents to open a current bank account in the name of the company.

Ensure to adhere to all guidelines and regulations prescribed by the Ministry of Corporate Affairs throughout the registration process.

Documents Needed for One Person Company (OPC) Registration

Identity & Address Proof for Directors and Shareholders:

  1. Copy of PAN Card of Director(s)
  2. Voter ID Card, Driving License, or Passport
  3. Any one of: Bank Statement, Electricity Bill, or Mobile Bill (not older than 2 months)
  4. Passport Size Photograph of Directors

Proof of Registered Office

  1. Conveyance/Lease Deed/Rent Agreement, etc. along with rent receipts (any one)
  2. Copy of utility bills (Telephone/Gas/Electricity bill) (not older than two months) (any one)
  3. o Objection Certificate (NOC) from Landlord

 

Deliverables for One Person Company (OPC) Registration

  1. Digital Signature Certificate (DSC) and Director Identification Number (DIN) for 1 Director
  2. Company Name Approval
  3. Memorandum of Association (MOA) and Articles of Association (AOA)
  4. Incorporation Certificate
  5. Company PAN Card
  6. Company TAN Number
  7. Support for Bank Account Opening Documents

 

 

MyLawPoint for property document verification was 100% worth it. Initially, I hired a lawyer for bank loan document processing but was disappointed with their professionalism. MyLawPoint connected me with an expert advocate who articulated all possible pitfalls in purchasing the property (DC Survey 66/1 Chikkanagamangala) from Reliaable Developer. Their detailed legal report helped me avoid a potential loss of 80 lakhs. I'm grateful for MyLawPoint's excellent coordination and swift document collection. Thank you to their team for saving me from a risky investment.

Govind

I purchased a flat in Hyderabad, but the builder delayed possession beyond the committed date. This caused significant financial strain as I was paying high EMIs and rent, leaving me with no money at month-end. Feeling stressed and helpless, I discovered MyLawPoint. Their Property Expert Lawyer suggested sending a legal notice to the builder and appealing to RERA for the delayed possession. Thanks to their guidance, I received compensation from the builder for the delay and finally gained possession of my flat. MyLawPoint's support was invaluable in resolving this effectively.

Malani

I had an exceptional experience with MyLawPoint. Their support throughout the entire process, from Property Paper Verification to the Sale Deed Registration, was truly comprehensive and invaluable. The level of service they provided exceeded my expectations, and I am highly satisfied with the outcome. Their dedication to keeping me informed with timely updates at every step of the way further showcased their professionalism and commitment to client satisfaction. I wholeheartedly recommend MyLawPoint to anyone in need of legal support for their property transactions.

Gerald Gilbert

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Frequently Asked Question

Is Stamp Duty included in MyLawPoint's fee?

No, stamp duty is not included in MyLawPoint's fee. It should be paid separately, and our lawyers will assist you in procuring it.

How long does it take to register the property?

The time taken for property registration varies based on the sub-registrar office and property registration flow. Typically, after document submission to MyLawPoint, expect 3-7 days for lawyer-assisted property appointments with the local sub-registrar office.

Do I need to be present at the Sub Registrar Office?

Yes, while MyLawPoint handles appointments and formalities, your presence at the sub registrar’s office is required on the day of registration appointment.

Can an Agreement to Sell be cancelled?

Yes, an Agreement to Sell can be cancelled through mutual consent or if a condition in the contract permits cancellation. However, penalties or consequences may be specified in the agreement for cancellation.

One Person Company

On Sale
(3 customer reviews)

Introduced under the Companies Act, 2013 in India, a One Person Company (OPC) is a unique business structure where a single individual serves as the sole member and shareholder. In this setup, the individual can also assume the roles of both director and shareholder, consolidating control over the company’s operations. This innovative model combines the advantages of limited liability with the simplicity of a single ownership and management structure, offering solo entrepreneurs an efficient means of establishing a separate legal entity for their business endeavors.

 

 

What is a One Person Company (OPC)?

A One Person Company (OPC) is a distinct form of company formation introduced in the Companies Act of 2013 in India. It allows a single promoter to have complete control over the company, serving as the sole shareholder and director. Although a director nominee may be appointed, they have no authority unless the real director is unable to fulfill contractual obligations. OPC operates as a hybrid structure, combining the advantages of a sole proprietorship and a company.

It has only one member who acts as both director and shareholder. OPC provides solo entrepreneurs with the benefits of a private limited company, including access to credit, bank loans, limited liability, legal protection, and market access. However, it does not allow for contributions to employee stock options or equity funding. Moreover, if an OPC’s consecutive 3-year average turnover exceeds Rs. 2 crores or its paid-up capital is Rs. 50 lakh or more, it must convert into a private limited or public limited company within six months.

 

Advantages of Establishing a One Person Company

Benefits of Registering a Private Limited Company

  1. Separate Legal Existence: The company is recognized as a separate legal entity distinct from its owners, providing legal protection to shareholders.
  2. Limited Liability of Shareholders: Shareholders’ liability is limited to their investment in the company, safeguarding personal assets against business debts and obligations.
  3. Continuous Existence: The company enjoys perpetual succession, unaffected by changes in ownership or management, ensuring stability and continuity.
  4. No Requirement for Regular Meetings: Private Limited Companies have more flexibility as there’s no mandatory need for frequent board meetings, annual general meetings, or extraordinary general meetings.
  5. Less Compliance: Compared to other business structures, Pvt. Limited Companies generally have fewer compliance requirements, reducing administrative burden.
  6. Easy Fundraising: Pvt. Limited Companies have better access to funding from investors, banks, and financial institutions due to their structured setup and legal recognition.
  7. Enhanced Trust and Credibility: Being a Pvt. Limited Company enhances trust and credibility among vendors, clients, and lending institutions, facilitating smoother business operations and collaborations.

 

What are the prerequisites for establishing a One Person Company (OPC)?

Requirements for Registering a One Person Company (OPC):

  1. At least 1 Shareholder
  2. At least 1 Director
  3. Minimum 1 Nominee
  4. No minimum capital requirement, but the OPC should have a minimum authorized share capital of at least Rs. 1 lakh
  5. The company name must be unique and distinct from any existing company name or trademark

Note: The Director and Shareholder can be the same individual.

 

Comprehensive Guide to Registering a One Person Company (OPC)

Step-by-Step Process for Registering a One Person Company (OPC) under the Ministry of Corporate Affairs:

  1. Application for DSC (Digital Signature Certificate): Obtain a Digital Signature Certificate for the proposed director(s) from authorized agencies.
  2. Apply for DIN (Director Identification Number): Apply for Director Identification Number for the proposed director(s) through the MCA portal.
  3. Application Filing for Name Availability: Submit an application for the availability of the proposed company name through the MCA portal. Ensure the name complies with naming guidelines.
  4. Drafting and Filing of eMoA and eAoA: Prepare and file the electronic Memorandum of Association (eMoA) and Articles of Association (eAoA) incorporating necessary clauses and details of the company.
  5. Apply for PAN and TAN of the Company: Apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the company through the NSDL portal.
  6. Certificate of Incorporation Issued by RoC along with PAN and TAN: Once all documents are verified and approved, the Registrar of Companies (RoC) issues the Certificate of Incorporation along with PAN and TAN.
  7. Open a Current Bank Account in the Company Name: Use the Certificate of Incorporation and other relevant documents to open a current bank account in the name of the company.

Ensure to adhere to all guidelines and regulations prescribed by the Ministry of Corporate Affairs throughout the registration process.

Documents Needed for One Person Company (OPC) Registration

Identity & Address Proof for Directors and Shareholders:

  1. Copy of PAN Card of Director(s)
  2. Voter ID Card, Driving License, or Passport
  3. Any one of: Bank Statement, Electricity Bill, or Mobile Bill (not older than 2 months)
  4. Passport Size Photograph of Directors

Proof of Registered Office

  1. Conveyance/Lease Deed/Rent Agreement, etc. along with rent receipts (any one)
  2. Copy of utility bills (Telephone/Gas/Electricity bill) (not older than two months) (any one)
  3. o Objection Certificate (NOC) from Landlord

 

Deliverables for One Person Company (OPC) Registration

  1. Digital Signature Certificate (DSC) and Director Identification Number (DIN) for 1 Director
  2. Company Name Approval
  3. Memorandum of Association (MOA) and Articles of Association (AOA)
  4. Incorporation Certificate
  5. Company PAN Card
  6. Company TAN Number
  7. Support for Bank Account Opening Documents

 

 

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₹12,999.00

Product price: ₹12,999.00
Total options:
Order total: