A One Person Company (OPC) is a private limited company which can be incorporated with a single person as the sole shareholder and director. OPC has been introduced under the Companies Act, 2013, which enables an individual entrepreneur to operate a corporate company with limited liability and separate legal personality. It is a union of sole proprietorship advantages and a company, providing legal protection to the owner's personal assets while allowing improved credibility and business organization. 

ONE PERSON COMPANY (OPC) REGISTRATION

One Person Company (OPC) registration is a perfect choice for solo businesspersons to begin a business with limited liability and independent legal existence. OPC enables a single person to be both the director and the shareholder, thereby having complete control over the business with the advantage of a private limited company.

This structure offers the simplicity of a sole proprietorship while providing the legal safeguards typically associated with a corporation.It shields your personal assets from business risks, which is why startups, freelancers, and small business owners love it.

At The Legal Team, we simplify OPC registration in the easiest way possible, making it quick and inexpensive. Our professionals take care of everything from documentation to filing, so you can concentrate on expanding your business. We are transparent with One Person Company registration charges and assist you throughout the process.

Go ahead and start your entrepreneurial journey in confidence. 

Eligibility Criteria to Register a One Person Company (OPC)

Before you register a One Person Company (OPC) in India, it is essential to check whether you are eligible according to the Companies Act, 2013. Below are the primary requirements:

Single Member Permitted:

The name itself indicates that an OPC can have a single person as its member/shareholder. The person will be the owner of the company to the extent of 100%.

Resident Indian Citizen:

The only member can be a natural person who is a citizen of India and has stayed in India for 120 days or more in the last financial year.

One OPC Per Person:

An individual can get only one OPC registered in his name. Also, he cannot be a nominee in another OPC.

Nominee Requirement:

At the time of incorporation, a nominee needs to be appointed who will inherit the OPC in case of the death or disability of the member. The nominee also needs to be a resident Indian.

Not for Certain Businesses:

OPCs cannot undertake non-banking financial investment activities or be converted into a Section 8 company with charitable activities. 

Registration of One Person Company (OPC) in India

The concept of One Person Company (OPC) was introduced under the Companies Act, 2013 to promote entrepreneurship among individuals. It allows a single person to incorporate a company with limited liability and a distinct legal identity. This structure is ideal for solo founders who want to enjoy the benefits of a private limited company without the need for partners or co-founders.

A One Person Company (OPC) is managed and owned by a single individual, who holds the roles of both owner and director. At the time of registration, a nominee must be designated to assume control of the company if the owner passes away or becomes incapacitated.

Key Benefits of OPC Registration:

• Limited liability protection
• Full control of the business
• Easy to raise funds
• Separate legal identity
• Minimal compliance requirements

Steps for OPC Registration in India:

1. Get your Digital Signature and Director Identification Number issued.

2. Choose an exclusive name for your company and get it sanctioned.

3. Draft and file incorporation documents with the Registrar of Companies (RoC).

4. Receive the Certificate of Incorporation and commence operations.

OPC Registration with The Legal Team

The One Person Company (OPC) provision was introduced under the Companies Act, 2013 with a view to promoting entrepreneurship among individuals. It enables an individual to establish a company that offers limited liability protection and is recognized as a distinct legal entity.. This structure is most appropriate for sole founders who want to enjoy the benefits of a private limited company but do not need partners or co-founders.

A One Person Company allows one individual to hold the roles of both director and shareholder. However, a nominee has to be appointed during the registration process, who will become the recipient of the company in case of death or disability of the owner.

Key advantages of OPC registration:

• Limited liability protection

• Not at all lesser control of the business

• Easy to raise funds

• Separate legal identity

• Minimum compliance requirements

Procedure for OPC registration in India:

• Obtain a Digital Signature Certificate (DSC) and a Director Identification Number (DIN) for compliance.

• Identify a non-duplicate company name and obtain the required authorization.

• Prepare and file incorporation papers with the Registrar of Companies (RoC)

• Obtain the Certificate of Incorporation and start operations.