One Person Company Registration India

One Person Company Registration India (OPC) can be framed with just 1 proprietor, who goes about as both the chief just as an investor of the organization. Segment 2(62) of Companies Act characterizes a one-individual organization as an organization that has just a single individual regarding its part. Moreover, individuals from an organization are only endorsers of its notice of affiliation, or its investors. Thus, an OPC is successfully an organization that has just a single investor as its part. There can be more than 1 chief, however not more than 1 investor. It is enlisted according to the consistence and administrative rules of the Ministry of Corporate Affairs (MCA).

How To Do One Person Company Registration Online

Registering a One Person Company is quite a quick, easy, and can be done online with Tesla Digital in 3 simple steps:

DSC & DIN

We reserve the name of your company, and help you obtain the DSC and DIN.

Drafting & Filing

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.

What is One Person Company Registration India?

The One Person Company India (OPC) as of late was dispatched as a decent refinement over the sole ownership. In OPC, a solitary advertiser acquires full authority over the organization accordingly limiting his/her obligation towards their commitments to the undertaking. Consequently, the said individual will be the sole investor and chief (nonetheless, a chief candidate is available, yet has zero force until the genuine chief demonstrates unequipped for getting into the agreement). Additionally, there can be no chance for adding to representative investment opportunities or value subsidizing. individuals from an organization are only endorsers of its update of affiliation, or its investors. Thus, an OPC is successfully an organization that has just a single investor as its part. Moreover, if an OPC organization has a normal hattrick turnover of Rs. 2 crores and over or obtains a settled up asset of Rs. 50 lakh and over, it must be changed over to a private restricted organization or public restricted organization inside a half year.

OPC Registration Process

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.

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.

Why Tesla Digital?

15 Business Days

Talk to us and let us know a little bit more about your company and rest assured. You will have the certificate of incorporation within 15 business days. It is very fast and very simple. Additionally to your request, we will be handling in and around 450 requests this month.

9.1 Customer Score

We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.

160+ Strong Team

Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we’ll try to ensure that your doubts are cleared before they even arise.

Benefits of OPC Registration

Limited Liability

A One Person Company registration India has limited liability as it is a Separate Legal Entity. It can buy and sell property, enter into contracts, sue or be sued upon in its own name. The death, insanity, incapacity or insolvency of its shareholder/director does not affect the existence or business of the Company in any way. The directors’ personal property is always safe in a private limited company, no matter the debts of the business.

Continuous Existence

Sole Proprietorships come to an end with the death of the proprietor. As an OPC company has a separate legal identity, it would pass on to the nominee director and, therefore, continue to exist. It does not gets affected even if the owner dies, retires or anything. It simpily has the provision of a nominee pass, which automatically passes the ownership and the managememnt to the nominee.

Greater Credibility

As an OPC registration, every firm or company needs to have its books audited annually. One Person Company (OPC) has greater credibility among vendors and lending institutions. An OPC shows greater credibility as it is fully audited every year.

Mandatory Documents Necessary for OPC Registration

To Be Given By 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 copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
Scanned copy of Notarized rental agreement in English
Scanned copy of No-objection certificate from the property owner
Scanned copy of sale deed/property deed in English (in case of owned property)

Note: Your registered office need not be a commercial space; it can be your residence too.

What is included in this package?

Directors Identification Number for 1 Director
Digital Signature Certificate for 1 Director (If the shareholders are different from directors, then additional DSC is required for Shareholders)PAN Number
TAN Number
The registration process includes – Drafting the Memorandum & Articles of Association, RoC filing fees for an authorized capital, Government Stamp Duty, and Certificate of Incorporation.
Name Approval Certificate
GST Registration
PF Registration
ESI Registration
PT Registration (Only applicable in Maharashtra)
ICICI Zero Balance Current Account

FAQs on One Person Company Registration India

Why should I form an One Person Company Registration India?

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.

Who can register for an OPC?

One Person Company Registration India 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. In this, there is only one person as the owner and manager.

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. For Directors and Nominee: Pan Card ID proof- Any one (Voter ID/Aadhar Card/Driving License/Passport) Address Proof- Any one(Electricity Bill/Telephone Bill/Mobile Bill/Bank Statement).

How much capital is required to start an OPC?

There is no difference in capital requirement between an One Person Company Registration India and a private limited company. It needs an authorized 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.

The drawbacks are:

1. High Tax Rate

2. High Consistency Cost

3. Not suitable for High Turnover

4. OPC is included in the name

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.

How many directors can there by in an OPC?

An OPC has certain limitations. The person starting the business is both the director and shareholder. There is also a nominee director, but this person has no power whatsoever for raising equity funds or offer employee stock options. The nominee exists only to take over in case of the death or incapacitation of the director. The nominee is chosen by the director, and can be anyone, such as your spouse, parents or siblings. The nominee will need to provide identity proof during registration

Can I start more than one OPC at a time?

No, an individual can form only one OPC at a time. This rule applies to the nominee in an OPC, too. Therefore, one person can’t be the nominee of two OPC’s simuntaneously.