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HERE'S HOW IT WORKS
Get your OPC Registration in 3 steps
1. Fill Form
Simply fill the above form to get started.
2. Call to Discuss
Our expert will connect with you & complete legalities.
3. Get Incorporated
Get your Company Incorporation Certificate from MCA.
GUIDE TO ONE PERSON COMPANY REGISTRATION IN INDIA
In India, the One Person Company (OPC) has emerged as a popular choice for entrepreneurs looking to start their ventures with limited liability and ease of compliance. This unique business structure allows a single individual to operate a company, offering benefits similar to that of a private limited company while requiring lesser formalities.
ONE PERSON COMPANY REGISTRATION PROCESS
Fill and Submit: the above GET STARTED form.- Watch a detailed Video on OPC Incorporation
- Submit a one page OPC formation questionnaire
- Startupwala expert will clear all your queries
- Arrange for Founders Id and address proofs
- Sign incorporation documents
- Drafting main object and Name application
- Filing of Incorporation forms with MCA
- Getting the Incorporation Certificate
- PAN and TAN/TDS number allotment
- Bank account opening documentation support
DIFFERENCE BETWEEN OPC & PVT. LTD. IN INDIA
- Number of Members: OPC can have only one member, Pvt Ltd requires a minimum of two.
- Nominee Requirement: OPCs must nominate a natural person, not applicable for Pvt Ltd.
- Conversion Rules: OPCs have stricter conversion regulations than Pvt Ltd companies.
DIFFERENCE BETWEEN OPC & LLP IN INDIA
- Ownership: OPCs have single ownership; LLPs have multiple partners.
- Liability: Both offer limited liability.
- Tax: OPCs taxed as companies; LLPs may have pass-through taxation.
- Compliance: OPCs have more stringent requirements compared to LLPs.
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FAQ ON ONE PERSON COMPANY REGISTRATION
1. What is a One Person Company (OPC)?
A One Person Company (OPC) is a type of business entity in India where a single person can establish a company with limited liability. It provides a unique opportunity for solo entrepreneurs to operate as a corporate entity.
2. Who can form an OPC?
Any Indian citizen residing in India can form an OPC. However, a person cannot incorporate more than one OPC or become a nominee in more than one OPC.
3. What is the significance of the nominee in an OPC?
The nominee in an OPC is appointed by the sole member to take over the management of the company in case of the member's death or incapacity. The nominee ensures the continuity of the business and protects the interests of stakeholders.
4. Can the nominee in an OPC withdraw his/her consent?
Yes, the nominee in an OPC can withdraw his/her consent by giving a written notice to the sole member of the company. Upon receipt of such notice, the sole member must appoint another person as the nominee within 15 days.
5. What is the minimum and maximum number of members in an OPC?
As the name suggests, an OPC can have only one member. It cannot have more than one member at any point in time.
6. What is the minimum capital requirement for OPC registration?
There is no minimum capital requirement for OPC registration in India. You can start an OPC with any amount of capital, as per your business needs. However, we suggest to keep minimal capital of Rs.20,000 to take care of the formation expenses.
7. Is there a maximum limit for the paid-up capital in an OPC?
No, there is no maximum limit for the paid-up capital in an OPC. You can infuse as much capital as required for your business operations and growth.
8. Can a minor be a member or nominee in an OPC?
No, a minor cannot become a member or nominee in an OPC. Only individuals who have attained the age of majority can form or be associated with an OPC.
9. Can an OPC have a foreign national as a nominee?
No, a nominee in an OPC must be an Indian citizen and resident in India. Foreign nationals or non-resident Indians (NRIs) are not eligible to be nominees in OPCs.
10. What are the key benefits of forming an OPC?
The key benefits of forming an OPC include limited liability protection, separate legal entity status, ease of formation and compliance, opportunities for disciplined growth, and enhanced credibility in the market.
11. What is the process of OPC registration in India?
The process of OPC registration involves obtaining a Digital Signature Certificate (DSC), Director Identification Number (DIN), filing of documents with the Registrar of Companies (ROC), and obtaining the Certificate of Incorporation.
12. Can a foreign national form an OPC in India?
No, only Indian citizens residing in India can form an OPC. Foreign nationals or non-resident Indians (NRIs) are not eligible to incorporate an OPC in India nor become a nominee of an OPC.
13. Can an OPC be converted into a private or public limited company?
Yes, an OPC can be converted into a private or public limited company by following the prescribed procedures and fulfilling the eligibility criteria as specified under the Companies Act, 2013.
14. Is it mandatory for an OPC to hold annual general meetings (AGMs)?
No, OPCs are not required to hold AGMs. They have relaxed compliance requirements compared to other types of companies, making them suitable for small businesses and solo entrepreneurs.
15. What are the documents required for OPC registration?
The documents required for OPC registration include identity proof, address proof, PAN card, passport-sized photographs, and a No Objection Certificate (NOC) from the property owner (if the registered office is a rented premises).
16. Can an OPC have more than one director?
Yes, an OPC can have more than one director. The sole member of the OPC can appoint up to 15 directors in the company.
17. Is there a requirement for a physical office space for OPC registration?
Yes, an OPC must have a registered office address in India. It can be a residential or commercial property, but it must be capable of receiving official communications and notices.
18. How long does it take to register an OPC in India?
The time taken to register an OPC in India depends on various factors such as the availability of documents, accuracy of filings, and processing time at the Registrar of Companies (RoC). Generally, it takes around 15 to 20 days to complete the registration process.
19. Can an OPC voluntarily convert itself into any other type of company?
Yes, an OPC can voluntarily convert itself into a private or public limited company by passing a special resolution and complying with the prescribed procedures under the Companies Act, 2013.
20. What is the liability of the member in an OPC?
The liability of the member in an OPC is limited to the extent of his/her contribution towards the company's capital. The member is not personally liable for the debts and obligations of the company beyond this limit.
21. Can an OPC be formed for any type of business activity?
Yes, an OPC can be formed for any lawful business activity except for non-profit activities such as charitable trusts, NGOs, or religious institutions.
22. Can an existing sole proprietorship be converted into an OPC?
Yes, an existing sole proprietorship can be converted into an OPC by registering the business under the OPC structure and fulfilling the necessary requirements prescribed by the Companies Act, 2013.
23. Is there any restriction on the name selection for an OPC?
Yes, the name selected for an OPC must comply with the guidelines prescribed by the Ministry of Corporate Affairs (MCA). It should not be identical or similar to the names of existing companies or trademarks.
24. Can an OPC be owned by a corporate entity?
No, an OPC cannot be owned by another company or corporate entity. It must have a natural person as its sole member.
25. Can an OPC have multiple businesses under its business scope?
Yes, an OPC can engage in multiple business activities under its scope, provided they are within the scope of its Memorandum of Association (MOA) and comply with the laws and regulations governing those activities.
26. Can an OPC carry out manufacturing activities?
Yes, an OPC can engage in manufacturing activities subject to compliance with applicable laws, obtaining necessary licenses, permits, and approvals, and adhering to safety and environmental regulations.
27. What are the tax implications for an OPC?
An OPC is subject to the same tax regulations as other types of companies in India. It is liable to pay income tax on its profits at the applicable corporate tax rate, and the member is required to pay tax on any income received as dividends or salary.
28. Can an OPC issue shares to raise capital?
No, an OPC cannot issue shares to raise capital from investors as it cannot have more than one member.
29. Is it mandatory for an OPC to appoint an auditor?
Yes, an OPC must appoint an auditor within 30 days of incorporation. The auditor is responsible for auditing the company's financial statements and ensuring compliance with accounting standards and statutory requirements.
30. Can an OPC be converted into a partnership or LLP?
No, an OPC cannot be converted into a partnership or Limited Liability Partnership (LLP). It can only be converted into a private or public limited company as per the provisions of the Companies Act, 2013.
31. Can an OPC have branches in multiple locations?
Yes, an OPC can have branches in multiple locations within India and abroad. However, it must comply with the regulatory requirements for establishing and operating branches in different jurisdictions.
32. Can an OPC be converted into a Section 8 company (non-profit organization)?
No, an OPC cannot be converted into a Section 8 company (non-profit organization) as an OPC is not allowed to engage in non-profit activities.
33. Is there any restriction on the business activities of an OPC?
An OPC cannot engage in certain specified activities such as investment in securities of any other body corporate, unless it is in the nature of an investment or lending or providing security to any other body corporate.
34. Can an OPC be voluntarily liquidated?
Yes, an OPC can be voluntarily liquidated by passing a special resolution and following the prescribed procedures for voluntary liquidation as per the Companies Act, 2013.
35. Is it mandatory for an OPC to appoint a company secretary?
No, it is not mandatory for an OPC to appoint a company secretary. However, if the OPC's paid-up share capital exceeds a prescribed threshold or if it is required by its articles of association, it may appoint a company secretary.
36. Can an OPC raise funds through public deposits?
No, an OPC cannot raise funds through public deposits as it is not permitted to invite the public to subscribe to its securities. It can raise funds through loans from financial institutions or its directors.
37. Can an OPC have a foreign subsidiary?
Yes, an OPC can have a foreign subsidiary by incorporating a company outside India. However, the OPC must comply with the foreign exchange regulations and other legal requirements applicable to investments and subsidiaries abroad.
38. Can an NRI establish an OPC in India?
No, non-resident Indians (NRIs) cannot establish an OPC in India.
39. Can an OPC be converted into a sole proprietorship?
No, an OPC cannot be converted into a sole proprietorship. Once formed, it must continue to exist as an OPC or be converted into another type of company as per the provisions of the Companies Act, 2013.
40. Is it mandatory for an OPC to have a bank account?
Yes, it is mandatory for an OPC to have a bank account in its name to carry out financial transactions and operations.
41. Can an OPC have joint shareholders?
No, an OPC cannot have joint shareholders. It must have a single natural person as its sole member who holds all the shares in the company.
42. Can an OPC be listed on a stock exchange?
No, an OPC cannot be listed on a stock exchange as it is not eligible to issue shares to the public. It can only have a single member and must remain a private company.
43. Can an OPC be formed for providing professional services?
Yes, an OPC can be formed for providing professional services such as legal, medical, engineering, consulting, etc. However, professionals forming OPCs must comply with the regulations governing their respective professions.
44. Can an OPC be formed for trading activities?
Yes, an OPC can be formed for trading activities such as buying and selling goods or commodities. However, it must comply with the applicable laws, obtain necessary licenses, and adhere to tax and regulatory requirements.
45. Can an OPC have more than one bank account?
Yes, an OPC can have more than one bank account for operational convenience and segregation of funds.
46. Can an OPC be converted into an LLP?
No, an OPC cannot be converted into a Limited Liability Partnership (LLP). It can only be converted into a private or public limited company as per the provisions of the Companies Act, 2013.
47. Can an OPC enter into contracts with its sole member?
Yes, an OPC can enter into contracts with its sole member. However, such contracts must be fair and reasonable, and the OPC must maintain proper documentation of all transactions.
48. Is there any restriction on the residential status of the sole member of an OPC?
The sole member of an OPC must be a resident in India. Non-resident Indians (NRIs) or foreign nationals cannot form OPCs in India.
49. Can an OPC be converted into a dormant company?
Yes, an OPC can be converted into a dormant company if it has not been carrying on any business activity or operation for a specified period and meets the criteria for obtaining dormant status as per the Companies Act, 2013.
50. Can an OPC be formed for charitable purposes?
No, an OPC cannot be formed for charitable purposes. Charitable activities are typically undertaken by non-profit organizations registered under Section 8 of the Companies Act, 2013.
51. Can an OPC have multiple nominees?
No, an OPC can have only one nominee who is appointed by the sole member to take over the management of the company in case of the member's death or incapacity.
52. Can an OPC have foreign directors?
Yes, an OPC can have foreign directors subject to compliance with the provisions of the Companies Act, 2013, and other applicable laws. However, at least one director must be a resident in India.
53. Can an OPC be formed for real estate development?
Yes, an OPC can be formed for real estate development activities such as construction, development, buying, selling, or leasing of properties. However, it must comply with the regulations governing the real estate sector.
54. Can an OPC be formed for educational activities?
Yes, an OPC can be formed for educational activities such as running schools, colleges, coaching centers, etc. However, it must obtain necessary approvals and licenses from the concerned regulatory authorities.
55. Can an OPC issue debentures to raise capital?
Yes, an OPC can issue debentures to raise capital from investors subject to compliance with the provisions of the Companies Act, 2013, and other applicable laws and regulations.
56. Can an OPC be formed for healthcare services?
Yes, an OPC can be formed for healthcare services such as hospitals, clinics, diagnostic centers, etc. However, it must comply with the regulations governing the healthcare sector and obtain necessary licenses and approvals.
57. Can an OPC have a foreign subsidiary?
Yes, an OPC can have a foreign subsidiary by incorporating a company outside India. However, it must comply with the foreign exchange regulations and other legal requirements applicable to investments and subsidiaries abroad.
58. Can an OPC be formed for technology-based businesses?
Yes, an OPC can be formed for technology-based businesses, including SaaS, IT services, product development, and more. It must follow sector-specific norms and acquire any relevant licenses.
59. How do I register a One Person Company (OPC) in Delhi?
In Delhi, you can register an OPC by filing the necessary documents with the Registrar of Companies (RoC) online through the Ministry of Corporate Affairs (MCA) portal.
60. What are the requirements for OPC registration in Mumbai?
In Mumbai, you need to have a unique name for your OPC, a registered office address, and a Director who is an Indian resident to initiate the registration process.
61. Can I register an OPC in Pune without a physical office?
Yes, you can register an OPC in Pune without owning a physical office space. You can use your residential address or a rented commercial space as the registered office address.
62. How long does it take to complete OPC formation in Bangalore?
OPC formation in Bangalore typically takes around 15 to 20 working days, subject to the processing time by the Registrar of Companies (RoC) and the accuracy of submitted documents.
63. What documents are required for OPC incorporation in Thane?
For OPC incorporation in Thane, you need to submit identity proof, address proof, PAN card, and passport-sized photographs of the Director along with the Memorandum of Association (MoA) and Articles of Association (AoA).
64. Is it mandatory to have a nominee Director for OPC registration in Hyderabad?
Yes, it is mandatory to have a nominee Director for OPC registration in all the States of India. The nominee Director will take over in case the sole Director of the OPC becomes incapacitated.
65. Can a foreign national register an OPC in Kolkata?
No, only Indian citizens and residents can register an OPC in India. Foreign nationals are not eligible to form an OPC in India.
66. What is the minimum capital requirement for OPC formation in Chennai?
There is no minimum capital requirement for OPC formation in Chennai. You can start an OPC with any amount of capital as per your business needs.
67. Are there any special incentives for OPC incorporation in Goa?
Yes, Goa offers various incentives and benefits for business incorporation, including OPCs. These incentives may include tax exemptions, subsidies, and ease of doing business initiatives.
68. Can an LLP convert to an OPC in Gujarat?
No, an LLP (Limited Liability Partnership) cannot directly convert to an OPC (One Person Company). However, the partners of the LLP can form an OPC by incorporating a new company and transferring assets.
69. What is the process for OPC registration in smaller towns of Maharashtra?
The process for OPC registration in smaller towns of Maharashtra follows the same procedure as in larger cities. You need to submit the required documents to the respective Registrar of Companies (RoC) office.
70. How much does it cost for OPC registration in Karnataka?
The cost of OPC registration in Karnataka varies depending on professional fees, government fees, stamp duties, and optional add-ons like domain, email, and GST registration.