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One Person Company
Introduction
One Person Company is a company that comprises a single person as a shareholder and can be contrasted with private companies. These companies get all the benefits of a private company such as they to have access to credits, bank loans, limited liability, legal protection, etc.
Business Format Description
One-person Company is a company that has only one person as its. Because members of a company are recognized as the company’s shareholders or the subscribers to its Memorandum of Association, One Person Company (OPC) is functionally a company with only one shareholder as its member. OPCs are usually formed when the business has just one founder or promoter. Due to the many advantages that OPCs offer, entrepreneurs whose businesses are at a initial stage give more preference to the creation of OPCs rather than sole proprietorships. Cost of yearly compliances are less as compare to other forms of companies.
Eligibility :
• Directors must have minimum age of 21 years and maximum age of 70 years.
• Directors should not be disqualified under section 164 of the companies act, 2013.
• No proceeding under COFEPOSA should be pending, against the directors.
• Directors should not be convicted of any imprisonment over 7 years.
• Persons with Sound Mental Health can start a company.
• Persons recognized as Insolvent by the court of law cannot be a director the company, until such insolvency omits.
• Director Identification Number is required u/s 152 of the companies act, 2013
Required Documents
• PAN of Every Promotor/Director/Managerial Personnel.
• AADHAR of Every Promotor/Director/Managerial Personnel.
• Passport Size Photo of Every Promotor/Director/Managerial Personnel.
• Digital Signature Certificate of Every Promotor/Director/Managerial Personnel.
• Bank Statement with latest entries , not later than 2 months of Every Promotor/Director/Managerial Personnel.
• Passport of Every Promotor/Director/Managerial Personnel. (Mandatory, if available)
• Voter ID/ Driving License of Every Promotor/Director/Managerial Personnel.
• Recent Utility bill as a address proof of the companies registered place of business.
• Rent Agreement / NOC by the Owner.
• Other ancillary documents(If required, as per the special nature of the company)
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₹799
inclusive tax
One Person Co-(Expert Advice/Consultancy Charges)
-> Get expert advice.Our team have experienced CA/CS/Legal Council.They will Guide you about registration process, documentation,legal requirements,advantage pvt.ltd. formation,taxation matters,legal compliances etc.
₹799 per year
-
₹2499
inclusive tax
One Person Co-(Silver Plan- includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹2499 per year
-
₹6499
inclusive tax
One Person Co-(Gold Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹6499 per year
-
₹14999
inclusive tax
One Person Co-(Platinum Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹14999 per year
-
₹24999
inclusive tax
One Person Co-(Diamond Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹24999 per year
Features of a Particular Format:
Nominee
The sole member of the company nominates a nominee during the registration of the company. This is a feature unique to OPCs Nominee and this distinguishes it from all other types of companies.
Assets and Liabilities
Company can hold assets and liabilities in its own name.
No Perpetual Succession
The death of the only member of the company allows the nominee to either reject or choose to become its sole member. In other kinds of companies, the concept of perpetual succession is followed
Minimum One Director
Minimum one person needs to be the director of OPCs, which is the member in this case. There can be a maximum of 15 directors.
No Minimum Paid up Share Capital
For OPCs, any minimum paid-up share capital has not been prescribed by the Companies Act, 2013.
Special Privileges
Many privileges and exemptions are enjoyed by the OPCs under the Companies Act that other types of companies are not entitled to.
Nominee
The sole member of the company nominates a nominee during the registration of the company. This is a feature unique to OPCs Nominee and this distinguishes it from all other types of companies.
Assets and Liabilities
Company can hold assets and liabilities in its own name.
No Perpetual Succession
The death of the only member of the company allows the nominee to either reject or choose to become its sole member. In other kinds of companies, the concept of perpetual succession is followed
Minimum One Director
Minimum one person needs to be the director of OPCs, which is the member in this case. There can be a maximum of 15 directors.
No Minimum Paid up Share Capital
For OPCs, any minimum paid-up share capital has not been prescribed by the Companies Act, 2013.
Special Privileges
Many privileges and exemptions are enjoyed by the OPCs under the Companies Act that other types of companies are not entitled to.
Process :
- Applicant has to fill up the form for required incorporation services
- Stay Relax, our representative will connect with you at earliest
- Get your documents ready, Our executive will ask for the necessary forms/documents/deeds.
- Our executives will finally scrutinised the forms/documents/deeds provided by you.
- After valid scrutiny, our team will continue preparing necessary attechments required for E-Filing
- After submission of E-Forms,, approval will be granted by Registrar
- Congratutaion !! Your are ready to Kick Start your venture.
Frequently Questions :
Stakeholders can avail of 5 different services (Name Reservation, Allotment of Director Identification number (DIN), Incorporation of New Company, Allotment of PAN and Allotment of TAN) in one form by applying for Incorporation of a new company through SPICe form (INC-32) – Simplified Proforma for Incorporating Company electronically (SPICe) – with eMoA (INC-33), eAOA (INC-34). In case eMoA, eAoA are not applicable, users are required to attach the pdf attachments of MoA and AoA. There is no need for reserving a name separately before filing SPICe. One name for the proposed company can be applied through SPICe (INC-32)
The company shall file form INC-4 in case of cessation of member of OPC on
account of death, incapacity to contract or change in ownership. In the same form,
user needs to provide details of the new member of the OPC.
In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into private or public company.
A person can be member in only one OPC.