One Person Company
One Person Company
A-One Person Company (OPC) is the latest corporation body of business in India projected by the companies Act, 2013.
A forward-thinking plan was launched that promotes the incorporation of small business SMEs and persons with entrepreneurial concepts and provides an uplift to entrepreneurs who have a high probability to start their volunteer by allowing them to create a one-person company.
A-One Person Company is a prototype shift in the Indian corporate regime, bringing it at par with global standards.”, an OPC may be formed for any lawful purpose As per sec 3[1][c]of company act 2013, by one person being a citizen of India.
Following are the Benefit of OPC
- Compliances Burden:- Compliance burden is very less as compare to other corporate organizations.
- Minimum Requirement:- There is no other person required one director can incorporate and he can become a shareholder also.
- Limited Liabilities:– The liabilities of the member are limited to the extent of share hold by members.
- Recognization:- One-person company gets recognition like Pvt ltd. the company and supplier and vendor are in confidence with deals with OPC.
- Existence:- On the death of the director, the Nominee can appoint as director of OPC.
- Control:- Director has full control and decision-making power in the OPC company.
Following are the disadvantages of OPC
- Member:- Only the Citizen person of India can incorporate OPC.
- Small Business:- Only Share Capital Rs. 50 lacs or Turnover of Rs. 2 Cr. Otherwise, OPC has to Convert into PVT LTD.
- Business activities:- OPC cannot run business activities of NBFC Company & OPC can not convert into Sec 8 Company.
- Other:- Director of OPC can not incorporate other OPC.
But now as per Section 2(62) of the Company’s Act 2013, a company can be formed only with just 1 Director and 1 member. It is a form of a company where the compliance requirements are minor than that of a private company.
Apply for DSC
Apply for DIN
Name Approval Application
Documents Required
Filing Forms with MCA
Issue of certificate of Incorporation
All about One Person Company
One Person Company
A-One Person Company (OPC) is the latest corporation body of business in India projected by the companies Act, 2013.
A forward-thinking plan was launched that promotes the incorporation of small business SMEs and persons with entrepreneurial concepts and provides an uplift to entrepreneurs who have a high probability to start their volunteer by allowing them to create a one-person company.
A-One Person Company is a prototype shift in the Indian corporate regime, bringing it at par with global standards.”, an OPC may be formed for any lawful purpose As per sec 3[1][c]of company act 2013, by one person being a citizen of India.
Following are the Benefit of OPC
- Compliances Burden:- Compliance burden is very less as compare to other corporate organizations.
- Minimum Requirement:- There is no other person required one director can incorporate and he can become a shareholder also.
- Limited Liabilities:– The liabilities of the member are limited to the extent of share hold by members.
- Recognization:- One-person company gets recognition like Pvt ltd. the company and supplier and vendor are in confidence with deals with OPC.
- Existence:- On the death of the director, the Nominee can appoint as director of OPC.
- Control:- Director has full control and decision-making power in the OPC company.
Following are the disadvantages of OPC
- Member: – Only the Citizen person of India can incorporate OPC.
- Small Business: – Only Share Capital Rs. 50 lacs or Turnover of Rs. 2 Cr. Otherwise, OPC has to convert into PVT LTD.
- Business activities:- OPC cannot run business activities of NBFC Company & OPC can not convert into Sec 8 Company.
- Other:- Director of OPC can not incorporate other OPC.
But now as per Section 2(62) of the Company’s Act 2013, a company can be formed only with just 1 Director and 1 member. It is a form of a company where the compliance requirements are minor than that of a private company.
Apply for DSC
- Apply for DIN
- Name Approval Application
- Documents Required
- Filing Forms with MCA
- Issue of certificate of Incorporation
Basic
INR 9999/-
One Time Fee
- Company incorporation
- PAN & TAN
- ESI PF
- GST Registration
- MSME Registration
- Bank A/c.
Service Provide Within 7 Days
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Standard
INR 14,999/-
One Time Fee
- Company Incorportaion
- PAN & TAN
- ESI & PF
- GST Registration
- Shop & Establishment Registration
- MSME Registration
- Trade Mark Registration
- Logo Design
- Opening Bank A/c.
Service Provide Within 15 Days
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Premium
INR 25,999/-
Yearly Fee
- Yearly Basic Annual Compliances of OPC
- Yearly GST Compliances
- Income Tax Return
Services Provided Before the Due Date
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Frequently Asked Questions
OPC has to mandatorily convert itself into a private or public company when 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. The process of informing ROC by the form INC 5 shall be filed within sixty days of exceeding threshold limits.
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.
Only one OPC, he can be member.
A Nominee can be change with their consent by filing form INC-4.
Yes, by filing Form INC-6 an OPC can be converted into a private or public company
Form INC-6 shall be filed within 30 days in case of voluntary conversion and within six months of mandatory conversion