One Person Company

One Person Company Registration in India

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Intro

₹ 7,899/-

All-inclusive Price for One Person Company Registration

  • 1 Digital Signature
  • 1 Director Identification Number (DIN)
  • Company Name Search & Application
  • Stamp Duty1
  • PAN & TAN
  • Bank Account Opening Res.
  • Commencement of Business(INC 20A)
  • Call, Chat(WA),& Email Support
  • Frequent Updates through your account
Select Plan

Base

₹ 22,999/-

All-inclusive Pricefor One Person Company Registration, Accounting & Compliances

  • Everything in Intro Plan
  • GST & MSME Registrations
  • Auditor Appointment Support
  • Accounting2(Upto 250 Entries for One F.Y)
  • Financial Statements & Board Reports for 1 Year
  • Annual Compliances3 for 1 Year
  • ITR Filing for 1st Year*
  • MCA eKYC for 2 Directors -1 Yr
  • Call, Chat(WA),& Email Support
  • Frequent Updates through your account
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Pro

₹ 30,499/-

All-inclusive Price for OPC Registration, Accounting & Compliances with Trademark Registration or GST Return Filing

  • Everything in Base Plan
  • Trademark Registration
  • TM Class & Search Assistance
  • Drafting & Filing of Application OR GST Return4 (Upto 25 Invoices/Month) Filing for 1 Year
  • GST Return Filing
  • GST Payment Support
  • Call, Chat(WA),& Email Support
  • Frequent Updates through your account
Select Plan

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As per the following timeline, your selected plan will be processed

Day 1-3

We collect the necessary information and documents

Day 4-7

We Reserve the Name, draft the required documents for OPC Registration

Day 8-10

We proceed to submit the documents with MCA for OPC Registration

Finally

Government Processing Time. You will be notified upon OPC Registration

One Person Company Registration : An Overview of OPC

Compared to a sole proprietorship, an OPC is better for solo entrepreneurs because their liability is limited. A one-person company differs from a sole proprietorship because it is a separate legal entity that distinguishes between the promoter and the company. When an OPC fails, or there are legal issues, the promoter’s liability is limited. Contrary to OPC, the liability for debts due by a sole proprietorship does extend to the individual, and their entire assets could be used to repay the debt. However, note that if it has revenues of over Rs. 20 crores and paid-up capital of over Rs.2 Crores, it needs to be converted into a private limited company or public limited company.One person company registration process has become easier with SKAI Tax Solution expert support.

The concept of One Person Company is quite revolutionary. It gives the individual entrepreneurs all the company’s benefits, which means they will get credit, bank loans, access to the market, limited liability, and legal protection available to companies by acquiring legal status and perpetuity.

What are the benefits of One Person Company Registration?

Obtaining funds is easy

Since OPC is a private company, it is easy to raise money through venture capital, angel investors, incubators, etc. Companies are more likely to receive loans than sole proprietorships from banks and financial institutions

Compliance Burden

According to section 2(68) of the Companies Act, 2013, a one-person company is included in the definition of a private limited company. OPCs will have to comply with the same provisions as private companies. However, due to several exemptions, OPCs have a lower compliance burden than others.

Limited Liability

In an OPC, members benefit from limited liability since their liability is limited to the unpaid subscription amount. Unlike a sole proprietorship, the OPC gives individuals the ability to take risks without risking their personal assets.OPC is a separate legal entity that protects the one individual who has incorporated it.

Easy to Manage

No requirement to hold annual or Extra-Ordinary General Meetings. A One Person company shall hold at least one board meeting every six months, and a gap of not less than 90 days must exist between the meetings.

What is the difference between an OPC and a Sole Proprietorship?

Unlimited Liability

In a sole proprietorship, liability is unlimited, which means that if the company incurs losses, both the company and the owner’s assets may be used to pay off the debt. On the other hand, an OPC is a separate legal entity, and therefore its owner has limited liability if the company suffers a loss.

Taxation

OPCs are liable for taxes as Private Limited Companies by being incorporated. An OPC is not taxed separately from a partnership and will be taxed by the provisions of the Income Tax Act. For a sole proprietorship, the income is taxed as the owner’s income, who is taxed accordingly.

Shareholder

As the name indicates, the One Person Company can be registered with one shareholder. The shareholder owns 100% of the company and is its sole owner. Members of OPC must be natural persons and not corporations or other artificial bodies. A person must be a resident of India and competent to contract. In addition to the member, the company needs to appoint a nominee.

For a private company, two shareholders are required. The maximum number of shareholders is 200. An artificial person can also own shares in this company, such as a company or a limited liability company.

Fund Raising

As OPC can only have one member, equity investment by investors is not possible. However, private companies can raise funds by issuing equity in various ways, including through private placements, right issues, venture capital, etc.

List of Documents Required for One Person Company Registration

  • PAN Card of Directors, Nominee & Shareholder
  • Aadhar card and Voter ID/ Passport/ Driving License of Directors, Nominee & Shareholder
  • Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Directors, Nominee & Shareholder
  • Latest Passport size photograph of Directors, Nominee & Shareholder
  • Latest Electricity Bill/ Telephone Bill of the registered office address
  • No Objection Certificate to be obtained from the owner(s) of registered office
  • Rent Agreement of the registered office should be provided

Here Are Some Frequently Asked Questions

What are the pre-requisites for One Person Company Registration?

To register an OPC in India, you must meet the following requirements:

The shareholder must be an individual and a resident of India

There must be at least one director who is an Indian resident

The nominee must be at least 18 years of age and be a resident of India at the time of registration.

A place of business must be provided as the registered office address of OPC.

At the time of one person company registration, it is mandatory to nominate a person with their consent. The nominee becomes a member of OPC in case of the member’s death or his incapacity to enter into a contract.

OPC cannot engage in NBFC-related activities.
OPC cannot acquire/invest in securities in its name in other body corporates;
however, the member can invest in the shares of other body corporate.
OPC cannot issue or allot shares to anyone except on its member.

No. The minimum paid-up capital requirement for OPC registration has been removed. While registering a business, you must subscribe to the amount needed for the business to run OPC. In addition, the subscriber must own at least one share to register. A minimum of INR 1 lakh must be kept as authorized capital.

The company must hold board meetings every financial Year if it has more than one director. In addition, the accounts and financial statements must be audited by an independent auditor. AOC – 4 and MGT – 7 must then be submitted as part of Annual Compliance within the given deadline.