One Person Company

How to do One Person Company registration Online

We helps you to register One Person Company in India in 3 simple steps

DSC & DIN

We reserve the name of your Co & help you obtain the DSC & DIN.

Drafting

We draft and file the documents required for your OPC registration (MoA, AoA, PAN & TAN)

Post Registration

We help you with the post-registration formalities and compliances.

Overview

The One Person Company (OPC) in recent times was launched as a good refinement over the sole proprietorship. In OPC, a single promoter gains full authority over the company thereby restricting his/her liability towards their contributions to the enterprise. Therefore, the said person will be the sole shareholder and director (however, a director nominee is present, but has zero power until the real director proves incapable of getting into the contract). Also, there can be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC company has an average hattrick turnover of Rs. 2 crores and over or acquires a paid-up fund of Rs. 50 lakh and over, it has to be converted to a private limited company or public limited company within six months.

Document Required

To Be Giveny One Person Company Director

Scanned transcript of Current Bank Account Statement/Phone or Mobile Invoice/Gas or Electricity Invoice)
Scanned transcript of Rental Agreement written in the English language
Scanned transcript of N-O or No-objection Certificate from the concerned property landowner
Scanned transcript of Property or Sale Deed printed in English (if the property is owned)

Note: Your office space which is registered needs to be a commercial area; however, it can be your house of residence as well

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Benefits

To Be Giveny One Person Company Director

Scanned transcript of Passport (Foreign Nationals & NRIs) or PAN Card
Scanned transcript of Passport, Voter’s ID or Driver’s License
Scanned transcript of Current Bank Account Statement/Phone or Mobile
Invoice/Electricity or Gas Invoice
Scanned passport-sized photo
Specimen autograph or impression (blank document with autograph)

Note: The OPC director as a mandate should self-attest the first three documents. If an NRI or a foreign national, all the document sheets should be notarized without fail (if at present in India or a non-Commonwealth nation) or apostilled (that is, living in a Commonwealth country).

Documents Necessary For The Registered Office

Scanned transcript of Current Bank Account Statement/Phone or Mobile Invoice/Gas or Electricity Invoice)
Scanned transcript of Rental Agreement written in the English language
Scanned transcript of N-O or No-objection Certificate from the concerned property landowner
Scanned transcript of Property or Sale Deed printed in English (if the property is owned)

Note: Your office space which is registered needs to be a commercial area; however, it can be your house of residence as well

Process Duration

5 Business Days

Firstly, the OPC director should petition or apply for the DSC otherwise known as Digital Signature Certificate, which is mandatory to file for the company registration records. For this to come through, one only needs to submit a few scanned documents; after which our agents will file the form by filling it and put it online for submission.

7 Business Days

Once the application for the DSC is done, our agents will ask you to choose a name for your business and send us the relevant scanned documents for the same. The sent documents will be used to file for the SPICe i.e. INC-32 and the MoA is otherwise known as the Memorandum of Association and the AoA also known as the Articles of Association. Finally, at the end of this process, the Certificate of Incorporation will be processed and approved.

2 Business Days

All companies need a registered PAN or Permanent Account Number and TAN or Tax Account Number. The application will be filed online by our representatives, however, you will be asked to courier the hard copies of the relevant and required documents yourself. Post the processing, the TAN and PAN will be dispatched to you to your registered office address only within 21 business days.

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Our FAQ

Answers To Your Questions

Who can register for an OPC?

OPC company registration can be done only by Indian residents, and that, too, only one at a time, as per the specifications of the Ministry of Corporate Affairs.

Why Should I form an OPC?

An OPC is a good alternative to running a sole proprietorship, largely because it gives limited liability to the business owner. This means that your liability is limited to the amount you’ve invested in the business; business debts cannot be recovered from personal possessions. Also, a sole proprietorship ceases to exist on the death of its promoter. In the case of an OPC, the nominee director takes over and the entity continues to exist. Single entrepreneurs who do not have another partner to start a private limited company may also consider it.

What are the mandatory requirements of an OPC?

All such businesses must maintain books of accounts, comply with statutory audit requirements and submit income tax returns and annual filings with the RoC.

How much capital is required to start an OPC?

There is no difference in capital requirement between an OPC and a private limited company. It needs an authorised capital of Rs. 1 lakh to begin with, but none of this actually needs to be paid-up. This means that you don’t really need to invest any money into the business.

What are the tax advantages available to an OPC?

No general advantages; though some industry-specific advantages are available. Tax is to be paid at flat rate of 30% on profits, Dividend Distribution Tax applies, as does Minimum Alternate Tax.

What is the main drawback of an OPC?

The MCA is skeptical about a single person in charge of a large corporation. Therefore, it requires all OPCs to be converted into private limited or public limited companies on crossing a certain revenue number. Currently, in case of an average turnover of Rs. 2 crore or more for the three consecutive years or a paid-up capital of over Rs. 50 lakh, the OPC must mandatorily be converted into an OPC.

How much does it cost to run an OPC?

The cost of an OPC is only marginally lower than that of a private limited company. You’ll be shelling out around Rs. 12,000 to incorporate, then paying around Rs. 15,000 a year in compliance fees and an auditor to inspect your books.

Have Questions About Something?

Talk To Us

+91-8376000125

Email

support@asquarefinserv.com

Our Location

Unit No.206, SS Plaza Sector-47, Gurgaon, Haryana-122018