One Person Company Registration

WHAT IS ONE PERSON COMPANY REGISTRATION ?

• A One Person Company (OPC) is like giving your business its own unique identity, completely separate from you and anyone else involved in it.
• OPC is the go-to choice for freelancers or individuals who want full control over their business. You get to be the captain of your ship without needing a co-captain.
• Think of an OPC as a mini version of a Private Limited Company. It's a separate legal entity, just like those big corporations. This means that, as the sole owner, you get protection – if things go sideways in your business, your personal assets, like your house and savings, stay safe. Plus, starting one is a breeze. If your OPC starts making over Rs. 2 crores a year, it's time for an upgrade. You'll need to turn it into a Private Limited Company. And, like a good student, it needs to show its financial report card to auditors every year.

What exactly is a One Person Company (OPC), and why should I consider registering one?
A One Person Company (OPC) is a type of business structure in which a single person can own and manage a company. It's suitable for those who want full control over their business without the need for a partner. Registering an OPC offers limited liability protection and a distinct legal identity for your business, which can be advantageous.

What are the key requirements for starting an OPC in India?
To start an OPC, you need to be an Indian resident and the sole director and shareholder of the company. Additionally, the company must have a registered office address in India.

How is the liability of the owner in an OPC?
In an OPC, the owner's liability is limited, which means their personal assets are protected in case the company faces financial troubles. Your liability is generally limited to the amount you invest in the company.

Are there any specific documents required to register an OPC?
Yes, there are several documents needed for OPC registration, including identity and address proof, PAN card, passport-size photographs, and a No Objection Certificate (NOC) if the registered office is owned by someone else.

What is the process and timeline for registering an OPC?
The OPC registration process typically involves obtaining Digital Signature Certificates (DSCs), Director Identification Numbers (DINs), and name approval. After that, you'll need to prepare and file the necessary incorporation documents with the Registrar of Companies (RoC). The entire process usually takes around 15-20 days, depending on various factors.

Are there any compliance requirements for an OPC after registration?
Yes, there are compliance requirements for an OPC. You must hold an Annual General Meeting (AGM) and file an annual return with the RoC. Additionally, if your OPC's turnover crosses Rs. 2 crores, you'll need to convert it into a Private Limited Company and follow the associated rules.

Can an OPC be converted into another type of company in the future?
Yes, if your OPC grows and crosses the Rs. 2 crores turnover threshold or if you simply wish to convert it, you can change it into a Private Limited Company or any other suitable business structure.

Documents Required

• In case of Indian Resident Director or Member (Self-attested)
• ID proof -Passport/ Driving License/ Voter ID card/ AADHAAR Card
• PAN card of the applicant
• In case the applicant is a foreign national (Self-attested)
• Passport (Apostille and Notarized)
• Residential proof (Apostille and Notarized)
• Attested copy of VISA (If not in India)
• Attested copy of Resident Permit certificate (If the applicant is in India)
•  Email ID and mobile number
• Copy of Rent agreement in the name of company (If rented property)
• Utility bills-telephone, electricity, and municipal (Not older than 60 days)
• Landlord NOC (Format will be provided)

Starting a One Person company involves several steps and processes. Here's a professional outline of the steps generally followed to register a One Person company: