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Your One Person Company Registration

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What is One Person Company Registration?

One Person Company in India is a new concept that has been introduced with the Company's Act 2013. One Person Company in India is incorporated by a single person. Before the enforcement of the Companies Act 2013 a single person was not able to establish a company. An OPC has features of a Company and the benefits of the sole proprietorship. Earlier if a person had to establish a business then he or she should only opt for a sole proprietorship.

According to Section 2 (62) of the Company's Act 2013, a company can be formed with just 1 director and 1 member. One Person Company registration in India is a type of entity where there are lesser compliances requirements than that of a Private Limited Company.

A One Person Company Registration in India can be obtained under the Companies Act 2013 with just one single member and one Director. The Director and member can also be the same person. Here an individual who may be a resident or Non-resident Indian can register an OPC in India.

One Person Company Business Activities

A One Person Company can undertake any type of business activity that an Indian person can undertake across most sectors and industries. However, there are some activities like banking, insurance, financial services, lending, defence, telecommunication that require specialized approval. In such cases, a company is mandatorily required to obtain various approvals from the Government. Hence, One Person Company business structure only works for business activities that are company scale in nature.

Advantages Of One Person Company

Legal Standing:

The OPC is granted its own legal entity status by the member. The OPC is a separate legal entity that serves to protect the individual who has formed it. The member’s liability is limited to his or her shares, and he or she is not personally accountable for the company’s loss. As a result, creditors have the right to sue the OPC rather than the member or director.

Succession Indefinite:

Even when there is only one member, the OPC has the feature of eternal succession. The single member must appoint a nominee while incorporating the OPC. When a member dies, the candidate takes over as president of the company.

Simple To Use:

The OPC’s affairs are straightforward to run because it may be formed and maintained by a single person. Making decisions is simple, and the decision-making process is rapid. Ordinary and special resolutions can be easily passed by a single member by recording them in the minute book and having them signed. As a result, running and managing the company is simple because there will be no internal disagreement or delays.

Implementation Is Simple:

The incorporation of OPC is simple because only one member and one nominee are necessary. A member can also be a director. The minimum authorized capital for forming an OPC is Rs.1 lakh, although there is no requirement for a minimum paid-up capital. As a result, compared to other types of businesses, it is simple to start.

Document For One Person Company

Photograph Of All The Directors And Shareholders

PAN Card Of All The Directors And Shareholders

ID Proof Of All The Directors(Driving License/Passport/Voter ID)

Electricity Bill For The Address Proof Of The Registered Office

Bank Statement of Two Year(Name,Address,Mobile No)