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The timeline for OPC registration in India depends on various factors, and must follow the required steps to ensure on-time registration:
Get DSC & DIN approval for the company name through the MCA portal.
Submitting the SPICe+ form & filing the incorporation application with MCA.
Receiving the Certificate of Incorporation & applying for PAN, TAN & GST.
If you are planning to start your business journey as a solo entrepreneur, we can help you with one person company registration. Yes, you read that right! Solo businesses can now register one person company, where entrepreneurs are entitled to several benefits, including structured business setup and limited liability protection.
One person company (OPC) registration was introduced under the Companies Act, 2013, with an aim to empower solo entrepreneurs. Single business owners can now start their journey as a one person company and enjoy the benefits of a private limited company registration. One person company registration involves a series of steps, and Corpfilings helps expedite the registration process.
Our OPC consultants at Corpbiz have the experience to process the one person company registration involving name approval, document submission, and incorporation through the MCA portal.
Since one person company safeguards personal assets and offers perpetual succession, it is an ideal choice for startups, small business owners. Freelancers, and consultants.
For effortless one person company registration in India, talk to our experts.
A one person company is one of the recognized business structures in India. OPC company registration allows owners to launch their businesses with limited liability, safeguarding their personal assets. OPCs offer a structured way to operate and grow their business efficiently. Key features of OPC company registration include the following:
Single Ownership: An OPC company registration allows a single owner to function as a shareholder as well as a director. It facilitates total control over business operations and decisions.
Limited Liability: One person company registration restricts the liability of the owners to their investment in the shares, protecting their personal assets from business liabilities, debts, and risks.
Perpetual Succession: OPC company registration enjoys perpetual succession and continues to exist even when the owner is deceased or becomes incapable. After the owner, the nominee takes charge of the OPC.
Separate Legal Identity: A one man company registration allows the business to function independently from its owner. An OPC can own assets in its name, enter into contracts, and initiate legal proceedings.
Reduced Compliance Burden: One person company registration has to adhere to less regulatory compliance compared to other types of business structures, which makes its registration easy and cost-effective.
Entrepreneurs who want to register one person company enjoy various benefits, including a unique business structure for single business owners. OPC registration offers simplified management, including other advantages given below:
OPC registration online clearly distinguishes between the roles of a director and a shareholder, which are different yet related. While the single member is tasked with managing the business operations, the nominee director takes over in case of unpredictable situations to ensure business continuity. The roles of directors and shareholders in OPC registration online include the following:
To register OPC online, entrepreneurs must ensure adherence to compliance and legal formalities in line with the Companies Act, 2013. The OPC must fulfil mandatory requirements, including eligibility and paperwork criteria and managing regulatory approvals to ensure a hassle-free registration process. Legal requisites to register OPC online are given below:
The process of online OPC registration requires the single owner to submit various documents to proceed with the incorporation process. Submitting specific documents is a part of the legal compliance mandated under the Companies Act of 2013. It includes the following:
The process to register OPC company passes through several stages, each with defined steps involving mandatory approvals, document submission, and filing incorporation forms with the Ministry of Corporate Affairs (MCA) to obtain a Certification of Incorporation. Process to register OPC company to ensure a valid business identity includes the following steps:
The first step in the process of one person company registration is for proposed directors to obtain Digital Signature Certificate (DSC) by submitting documents, such as ID and address proofs, PAN and Aadhaar cards, photographs, email IDs, and valid phone numbers.
The next step in the process of OPC registration is to apply for Director Identification Number (DIN) through the SPICe+ form. If the OPC registration is new, three directors can apply for DIN along with the incorporation process.
The next step to register one person company is to reserve a unique business name. This must be done through the SPICe+ form, in line with the MCA guidelines. If the name is rejected, the application must be resubmitted with alternate names. Entrepreneurs should not miss using “(OPC) Private Limited” in the title.
The next step for one person company registration is to draft and submit the Memorandum of Association (MoA) and Articles of Association (AoA). MoA and MoA highlight the business objectives and outline the operational structure according to the legal mandates.
As one person company registration onboards just one member, appointing a nominee becomes a compulsory norm. However, to do so, nominee’s consent must be obtained through Form INC-3, who must also submit PAN and Aadhaar card copies.
OPC registration online mandates submitting proof of registered office address, which includes ownership documents or rental agreement. However, a No Objection Certificate (NOC) from the owner must be submitted if the address is a rented property.
Once the documents are collected to register OPC online, they must be attached to the SPICe+ form. Once done, they must be digitally signed and uploaded to the official portal of the MCA for further verification. Once successfully verified, approval from Registrar of Companies (ROC) is granted.
Once the application for PAN and TAN is successfully submitted, the business receives its Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN), which are automatically generated along with the incorporation process.
Once the above steps for online OPC registration are completed and documents successfully verified, the Registrar of Companies (ROC) proceeds to issue the Certificate of Incorporation (COI), which establishes the valid existence of the OPC, making it eligible for legal business operations in India.
While one man company registration has set ₹1 lakh as the minimum authorized capital requirement, there is no need for any minimum paid-up capital. This feature allows the business financial flexibility, facilitating entrepreneurs to plan their operations.
Post-registration mandates for one man company registration include meeting various compliance requirements. Adherence to financial, legal and regulatory norms is a must under the Companies Act, 2013. Let us explore the requirements that are mandatory to maintain transparency and credibility below:
Corpfilings has experience in simplifying one person company registration online. Our seasoned consultants offer expert guidance to the clients in facilitating seamless OPC registration online. We also help register one person company with our paperwork assistance, and comprehensive compliance support. Our team is committed to ensuring a quick and hassle-free one person company registration online, so that our clients can start their business operations with ease.
One Person Company (OPC) registration is one of the legal business structures available in India, which facilitates a single entrepreneur to launch a corporate entity with limited liability. An OPC offers several benefits to the single owner, including the features of a private limited company, despite having just one shareholder on board. Other benefits include the status of a separate legal identity, perpetual succession, and fewer compliance requirements. These features and benefits make one person company registration an ideal choice for single business owners to venture into entrepreneurship and seek legal protection and business continuity.
While entrepreneurs can leverage OPC registration, it comes with eligibility criteria, which allows only Indian citizens or residents eligible to register one person company. To be qualified as a resident of India, a person must have stayed in India for at least 182 days in the previous financial year. One person can only register one OPC company at a time and must not forget to appoint a nominee to facilitate perpetual succession.
The cost of one person company registration in India depends on various factors, including professional fees of the consultants and the government charges. The overall charges also include fees for name approval, MOA and AOA drafting. In some cases, compliance and GST registration costs may also be included.
A business incorporated as one person company registration has a turnover limit of ₹2 crores. If it exceeds this threshold limit or surpasses ₹50 lakhs of paid-up capital in any financial year, it must convert into a private limited company. This feature restricts the operations of an OPC, preventing it from expanding beyond small-scale operations. As such, an OPC is not an ideal business structure for entrepreneurs seeking growth and expansion in terms of revenue and investment.
While a business with OPC registration functioning on a small scale does not need GST, but once its annual turnover exceeds ₹20 lakhs (for service-based businesses) or ₹40 lakhs (for goods-based businesses), it must apply for GST registration. However, GST registration is a must for OPC businesses with inter-state sales or e-commerce operations, even if operations are limited to the threshold. It is advisable to apply for GST registration voluntarily to claim input tax credits.
While an OPC can have only one shareholder, it can appoint more than one director. As per the guidelines of the Companies Act, 2013, a business with single person company registration is allowed to onboard up to 15 directors, even while the ownership remains with the sole shareholder. While this feature facilitates a business to seek professional expertise in operations and management, the control over decision-making remains solely with the single owner.
No, a business with one person company registration cannot be listed on stock exchanges. An OPC cannot even issue shares to the public. OPC is a business structure that facilitates an individual entrepreneur to operate a legal business entity with limited liability. While it offers a structured business model, it does not involve external investors. An OPC seeking to raise funds through equity must first convert into a private or public limited company.
To register one person company, an entrepreneur must follow the below-given steps:
A business as one person company registration is suitable for suits solo entrepreneurs who want to keep full control of their business and benefit from limited compliance and liability. On the other hand, a private limited company is ideal for businesses planning growth and expansion, seeking fundraising alternatives, and on board multiple shareholders. OPCs have to meet fewer regulatory requirements as compared to a private limited company. However, a private limited company offers growth opportunities along with better credibility, investment potential, and scalability.
Get in touch with our experts and initiate the process of registration and certification without any hassle.
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