One Person Company

One Person Company (OPC) is a type of business entity that allows a single individual to establish a corporate entity with limited liability. Here's an overview of an OPC.

Characteristics of a One Person Company (OPC):

Single Owner: An OPC can be formed with just one individual as a member/shareholder. This person holds the entire ownership of the company.

Limited Liability: Similar to other corporate structures, the liability of the sole member is limited to the extent of their shareholding in the company. Personal assets are protected.

Nominee Director: An OPC must nominate a person as a nominee director who would take over the company in case the sole member becomes incapacitated or passes away.

Perpetual Succession: OPC continues to exist even if the sole member changes due to death or incapacitation, unless it is voluntarily closed or converted into another type of entity.

No Minimum Capital Requirement: There is no mandatory minimum capital requirement to form an OPC.

Director and Shareholder: The sole member is also the sole director of the company.

Process of Registering a One Person Company (OPC):

Name Reservation: Choose a unique name for the OPC and apply for name availability through the Ministry of Corporate Affairs (MCA) portal.

Director Identification Number (DIN): Obtain DIN for the sole director by filing Form DIR-3 online.

Digital Signature Certificate (DSC): Obtain DSC for the sole director to digitally sign incorporation documents.

Documents Preparation: Prepare necessary documents including address proof, identity proof, and photographs of the sole member and nominee director.

Memorandum of Association (MOA) and Articles of Association (AOA): Draft MOA and AOA outlining the objectives and regulations of the OPC.

Incorporation Application: File an application for OPC incorporation (Form INC-32) online through the MCA portal, providing required details and attaching necessary documents.

Certificate of Incorporation: Upon successful processing and verification, the Registrar of Companies (RoC) will issue the Certificate of Incorporation, confirming the establishment of the OPC.

PAN and TAN Application: Apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the newly incorporated OPC.

DOCUMENTATION

The documentation required for registering a One Person Company (OPC) in India involves various essential documents. Here's a list of the key documents needed for OPC registration.

Documents Required for One Person Company (OPC) Registration:

Identity and Address Proof: Passport, Aadhaar card, Voter ID, or Driving License of the sole member.

Passport-sized photographs of the sole member.

Proof of Registered Office: Utility bills (electricity/water bill, etc.) or rental agreement of the registered office premises.

No-Objection Certificate (NOC) from the property owner (if the property is rented).

Nominee Director Details: Details of the nominee director, including identity and address proofs similar to those required for the sole member.

Passport-sized photographs of the nominee director.

Memorandum of Association (MOA) and Articles of Association (AOA):  Draft MOA and AOA outlining the company's objectives, operations, rules, and regulations.

Director Identification Number (DIN): DIN obtained for the sole member and nominee director, if not obtained earlier.

Digital Signature Certificate (DSC): DSC for the sole member and nominee director to digitally sign incorporation documents.

Consent and Declaration: Consent and declarations from the sole member and nominee director affirming their positions and compliance.

Board Resolution: Resolution passed by the sole member to authorize the formation of the OPC and appointment of the nominee director.

Other Documents: Any other documents specified by the Ministry of Corporate Affairs (MCA) or Registrar of Companies (RoC) during the registration process.