One Person Company Registration

Overview

One Person Company is a private limited company consisting of only one shareholder who is also the director of the company. OPC or One Person Company is an improvement over the traditional structure of sole proprietorship limiting the liability of the person to the total of his/her capital contribution towards the business.

There will be a nominee director who has no power until the original shareholder/director is rendered incapable of running the business eg. Due to death, incapacity of mind etc.

To incorporate an OPC an application must be made to ascertain availability of name of business by applying through Form INC-1. If the desired name is available then such name must be reserved. Within 60 days from such reservation INC-2 form which is the application for incorporation must be submitted.

Advantages & Benefits of OPC

Limited liability (up to the capital contributions towards the business)
Increased flexibility and control as the person is the sole shareholder/director
The financial statements and resolution passed can be signed by the single director/member
It is better trusted by lenders and vendors as it performs annual compliance to the Registrar of Companies
The OPC is a separate legal entity where after the demise of the sole member/ the nominee director will run the business.

Documents needed for OPC registration

Scanned copy of PAN Card/Voters ID/driving license or passport
Scanned copy of latest electricity bill/ telephone bill/ bank statement
Scanned passport size photograph
Specimen signature
Scanned copy of sale deed/property documents in case business is run in self-owned property
Scanned copy of notarized rental agreement and no objection certificate from property owner in case business is run in someone else’s premises

Documents required to Director & Nominee Person

PAN Card
ID Proof – Voters Id / Passport / Driving License ( Front & Back)
Address Proof – Latest Bank statement with transactions / Telephone bill / Mobile Bill with address mentioned
Passport Size Photograph

Documents for registered office address

Anyone: Latest Electricity bill / Gas Bill / Mobile Bill

CA Desk is a team of highly professional CA, CS, Lawyers who driving towards the integration of technology with traditional practices to cater to the need of MSMEs in the fast-moving and cost-effective world.

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