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One Person Company (OPC) Registration Online | DocsAdda Services LLP

About One Person Company (OPC) Registration

A new approach has been introduced in the Company’s Act 2013, about the One Person Company (OPC). In a Private Limited Company, a minimum of 2 Directors and Members are required whereas in a Public Company, a minimum of 3 Directors and a minimum of 7 members. A single human could not incorporate a Company previously.
But as per Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. It is form of a company where the compliance requirements are lesser than that of a private company.
Members of a company are nothing but subscribers to its, shareholders or memorandum of association. So, an OPC is effectively a company that has only one stockholder as its member.
Such companies are generally created when there is only one founder for the business. Entrepreneurs whose businesses lie in early stages prefer to build OPCs instead of sole proprietorship business because of the several advantages that OPCs offer.

Required documents for One Person Company (OPC) Registration

ID Proof of all Partners

Any one ID proof like AADHAR Card, Voter Card, Driving License or Passport required.

PAN card of all Partners

Passport size photo of Partners

Any one address proof in name of Partner

Bank statement having latest 60 days entry
Bank Passbook with entries page having latest 60 days entry
Electricity Bill in name of Director
Gas bill in name of Director

Any one bill in anybody name for registered office address

Electricity Bill
Gas Receipt (not Gas book)

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Registration Process Of LLP

01Step 1

Digital Signature Certificate (DSC)

02Step 2

Director Identification Number (DIN)

03Step 3

Name Approval

04Step 4

Incorporation of LLP

05Step 5

File Limited Liability Partnership Agreement

END

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LATEST QUESTIONS ABOUT ONE PERSON COMPANY REGISTRATION

Q. Is one person company a private company?

A new concept has been introduced in the Companies Act 2013 regarding One Person Company (OPC). In a private company, a minimum of 2 directors and members are required, while in a public company, there are a minimum of 3 directors and a minimum of 7 members. Not a single person could previously include a company.

Q. What is one person Company as per Companies Act 2013?

One Person Company UNDER Companies ACT, 2013. Section 2 (62) Act of the Companies Act, 2013 defines OPC as a company which has only one person as a member.

Q. Why should I form an OPC?

An OPC is a good option to run a sole proprietorship, largely because it gives limited liability to the business owner. This means that your liability is limited to the amount you have invested in the business; Business loans cannot be recovered from personal property. In addition, a sole proprietorship exists upon the death of its promoter. In the case of OPC, the nominee director takes over and the institution remains in existence. Sole entrepreneurs, who do not have any other partner to start a private limited company, may also consider this.

Q. Who can register for an OPC?

The registration of an OPC company can only be done by Indian residents, and that too, only one at a time, as per the specifications of the Ministry of Corporate Affairs.

Q. What are the mandatory requirements of an OPC?

All such businesses should maintain books of accounts, comply with statutory audit requirements and submit income tax returns and annual filings with the ROC.

Q. Which is better OPC or LLP?

The major difference between OPC and LLP is the number of members. The OPC can be set up with only one shareholder and one director (although it can have up to 15 directors) whereas an LLP must have a minimum of 2 partners and a maximum of 200 partners.

Q. Can OPC have employees?

Absolutely. A one-person company (OPC) means that there will be only one shareholder of the company (you), which has 100% shares. This is related to company ownership and does not affect your ability to hire employees in any way. You can also have multiple directors in your OPC.

Q. Is audit compulsory for OPC?

The OPC is essentially required to obtain its books of accountancy from a chartered accountant by another limited company. However, the provision relating to rotation of auditors is not applicable to OPC.

Q. Can OPC be converted into Pvt Ltd?

When an OPC is included, the conversion cannot take place before two years. The process of voluntary conversion of OPC into a private limited company comes under Section 18 of the Companies Act. Upon submission of all relevant documents, the registrar has the power to issue a certificate of incorporation.

Q. Is OPC a small company?

One Person Company (commonly known as OPC) is the type of entity that is owned by one individual. OPC is also a type of private limited company, but with little specificity. Similar to a private limited company, OPC registration and its operations are governed by the Indian Companies Act, 2013.

Q. What is difference between OPC and proprietorship?

The concept of One Person Company (OPC) allows a single person to run a company limited by shares whereas sole proprietorship means an entity that is operated and owned by one person and where there is no difference between the owner and the business.