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One Person Company Registration (OPC)

Company Registration

One Person Company (OPC)

Company Formation

Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. It is a form of a company where the compliance requirements are lesser than that of a private company.

The One Person Company (OPC) was recently introduced as a strong improvement over the sole proprietorship. It gives a single promoter full control over the company while limiting his/her liability to contributions to the business. This person will be the only director and shareholder (there is a nominee director, but with no power until the original director is incapable of entering into contract).

It takes around 20 days for One Person Company (OPC) Registration. For Quickest Registration of One Person Company (OPC) in Mumbai.



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Frequently Asked Questions

Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC. For the above purpose, the term “resident in India” means a person who has stayed in India for a period of not less than one hundred and eighty-two days during the immediately preceding one financial year.

A person can be a member of only one OPC.

There is no specific tax advantage to an OPC over any other form. The tax rate is flat 30%, other tax provisions like MAT & Dividend Distribution Tax applies as they apply to any other form of company.

A minor shall not eligible becoming a member
A. Foreign citizen
B. Non Resident
C. Any person incapacitated by contract

Mandatory Conversion of One Person Company (OPC) to Private Limited Company (PLC) is required in case a One Person Company meets certain parameters, like: a. Effective date of increase in the paid-up share capital of a One Person Capital beyond rupees fifty lakhs, AND

The basic mandatory compliance is:
A. At least one Board Meeting in each half of calendar year and time gap between the two Board Meetings should not be less than 90 days. B. Maintenance of proper books of accounts. C. Statutory audit of Financial Statements. D. Filing of business income tax return every year before 30th September. E. Filing of Financial Statements in Form AOC-4 and ROC Annual return in Form MGT 7.

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