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Business Registration - One Person Company

PACKAGES

Basic

This package includes:

1 DSC and 1 DIN.

Name approval.

Drafting of MOA and AOA.

Incorporation fee.

PAN TAN.


Rs. 7899
+18% GST applicable

Standard

This package includes:

1 DSC and 1 DIN.

Name approval.

Drafting of MOA and AOA.

Incorporation fee.

PAN, TAN.

GST registration.

One year, TDS filing.


Rs. 9899
+18% GST applicable

Premium

This package includes: 

1 DSC and 1 DIN 

Name approval 

Drafting of MOA and AOA

Incorporation fee, 

PAN and TAN 

GST registration

One year, TDS filing

Trademark Application


Rs. 18899
+18% GST applicable

One Person Company

A One Person Company is a type of business entity that allows an individual to operate a corporate entity with limited liability protection. Eazy Startup offers OPC registration from Rs.7899/-

In 2013, via the Companies Act, the concept of a One Person Company (OPC) was introduced. This was to enable entrepreneurs to start a venture by providing a means to create a single person economic entity.

The major advantage of an OPC is that it permits a single individual to create a company whereas with a Private Limited Company (PL) or a Limited Liability Partnership (LLP) there must have at least 2 members to establish a company.

Much like an LLP or PL Company, the single shareholder of a One Person Company will have limited liability protection, ensuring the company continuity of business with the ease of incorporating it.

Although the OPC enables the Entrepreneur to have the protection of an incorporation with limited liability, there are certain limitations: 

  • An OPC must nominate a nominee Director in the MOA and AOA of the company to become the owner of the OPC in the event of the sole Director being disabled.
  • Like all types of companies, an OPC must file audited financial statements with the Ministry of Corporate Affairs at the end of each financial year.

Therefore, it is advisable for the Entrepreneur to carefully consider the features of a One Person Company prior to incorporation. 

ADVANTAGES 

One individual in the OPC

 In India, the OPC is the only type of corporate entity that permits a single promoter with the benefit of limited liability protection. The OPC allows single existence and the ownership can also be easily transferred.

Unlimited Existence

The OPC will enjoy ‘perpetual succession’, enabling the company to be in uninterrupted existence until it has been legally dissolved. As a separate legal person, the company shall be unaffected by the departure or death of any member. Thus, remaining existent regardless of the changes in ownership.

Can Transfer Easily

With a simple transfer of shares, the ownership of the company can be transferred. The ownership of an OPC can be transferred by altering the shareholding, directorship and nominee director information. The simple process of filling and signing the share transfer form and share certificates changes the ownership of the company.

Borrowing Limit

The security equity against loans must be owned solely by the individual in the OPC. This benefits Banks and Financial Institutions to provide funding as there is no dispute on ownership, thus making it easier for an OPC to secure capital.

Owning Property

As an artificial person, the company can acquire, enjoy, and buy and sell properties on its name. Property owned by a company can be intangible and tangible assets, like machinery, land, building property – residential and commercial, etc. Furthermore, the nominee director of the company cannot claim ownership of these assets while serving as the nominee director.

PROCESS

Digital Signature & DIN

The proposed company director requires a Digital Signature Certificate (DSC) and Director Identification Number (DIN) to form an OPC. The DIN and DSC can be obtained in 2 to 3 working days.

Name Approval

A maximum of six name choices may be submitted to the government for approval. A name approval can be obtained in 2 to 3 working days subject to suitability, availability and processing time.

Company Registration

On approval of the Company name, the incorporation documents and application fee must be submitted for registration. The duration is usually 5-7 working days subject to processing time.


FAQ'S

Q: Is there any minimum capital Requirement?

A: OPC can start its business with any amount of capital

Q: Who is eligible for registering an OPC in India?

A: Indian residents (qualify as a resident after 120 days stay in India) and NRI's can register an OPC in India who are above 18 years and have an India origin are eligible for registering an OPC in India. Foreigners (not of Indian origin) cannot register an OPC India.

Q: Documents which are required to register for OPC  

A: Identity proof and address proof of the director and the nominee of the sole director cum member, Address proof of the office from where the OPC commences its operations is required. 

Q: How long it takes for getting registered for OPC

A: We at Eazy Start-up will help you to complete the registration process within 10 days.

Q: What action should be taken in case of any death of the director

A: Within 15 days of death of the director, nominee has to file form INC-4 with the designated fee as to intimate the companies registrar and as well as the takeover of the companies activities by the nominee.

B: How long the OPC incorporation is valid?

A: As long as the annual compliances are met regularly, OPC will be active and have perpetual existence. The company will become dormant company after certain period of time of default of annual compliance and may be removed (struck off) from the registrar. The company can be revived back for a period of up to 20 years after it is removed.