One Person Company Registration
One Person Company can be registered in 5-7 working days. The cost to register a OPC is Rs 7500
1 DSC, 1 DIN, MOA, AOA, CIN, PAN and TAN
What is one-person company?
One person company is a Private Limited Company but with 1 shareholder.
It is a more legalized and credible structure of a proprietorship. It has all the features of Private limited company but requires only 1 shareholder. More details of one person company can be found here.
What are the minimum requirement for OPC registration?
- Only 1 shareholder
2) Minimum 1 Director
- A Nominee whose age is more than 18 years and is not a director in any other OPC.
What are the advantages and disadvantages of a OPC?
The advantages of registering a OPC are:
- Limited Liability
- Only 1 shareholder and director needed
- Completely online
Disadvantages of OPC are:
1) Cannot be converted into Private limited company for 2 years
2) Cannot raise funds
3) Compliance cost is almost same as Private Limited Company
What are the documents required to register a One Person Company?
The documents required from the director and nominee are:
- Pan Card
- Aadhar card/Passport/ License
- Bank Statement/ Mobile Bill / Utility Bill having address
Documents required of the proposed registered address are as follows
- Electricity bill/Other Utility Bill of the proposed registered address
- NOC or rent agreement from the owner of the premises
Even if the director is owner of the property NOC is needed from him
What are the steps to register a OPC?
The steps/procedure to register a One Person Company are
Step 1: Applying for DSC (digital signature)
This is required to sign and submit the form online. It is also used to sign and upload the income tax returns and annual returns of the One Person Company. The digital signature is in a pen drive and can be obtained from vendors like E Mudhra or Sify.
Step 2: Submission of SPICE, SPICE 33 and SPICE 34
Preparation of MOA and AOA are the most important part in this step. This is a final application form and government has merged Name Approval, DIN Application, PAN and TAN application in this one simple form. We also submit the MOA and AOA of the One Person Company. Once this form is approved the government issues the Certificate of incorporation and MCA receipts which then can be used for opening a bank account.
One Person Company registration can be completed in 10 working days and is a completely online process
What s the process to register a OPC?
The company gets incorporated in 10-12
What are the steps after OPC is registered?
The steps after OPC registration are:
- Open bank account within 30 days
- Deposit Share Capital money within
- File commencement certificate within
- Issue Share certificates – within 60 days
- Appoint Auditor within 30 days
How many days does it take to register a OPC?
One Person Company registration process can be completed in 10-14 working days as follows
- Preparation of documents – 2 days
- DSC Application – 1 Day
- Name Approval through RUN – 1 days
- Filing of form – 2 days
- Approval – 4 days
What’s included in package?
Frequently Asked Questions
Only 1 director and shareholder can register a One Person Company
No only Indian residents can register a OPC
Yes One Person Company can be registered at residential or commercial address. You need to have a electricity bill and the NOC of the owner.
The One Person Company cannot be registered at the virtual address
Yes anyone can a be a director in the One Person Company if he meets the following conditions:
- Age should be more than 18 years
- Not criminally prosecuted
- Of sane mind
- Not bankrupt
The minimum capital can be Rs 1 as well. The authorized capital should be minimum Rs 1 lakh.
Please refer our blog on this here. But the basic rules to select a name are:
- It should be unique
- There should be no trademark registered of the given name
- It should have a prefix and activity word
- It should not have words like finance, minister etc
- For words like Global, Corporation, World the capital should be more that 25 lakhs
The income tax rate of the One Person Company is 25% plus cess. The dividend distribution tax is also applicable for a One Person Company.
As per the government rules you can be a director even if you are a employee.
But you need to check your employment agreement to see if your Company policy allows you to be a director.
The minimum cost to maintain a One Person Company even if it does not have any revenue is as follows:
Statutory Audit – Rs 12000
ROC Filing – Rs 7000
Income Tax Return – Rs 4000
The other compliances like GST returns, PT returns, Director KYC will be charged extra.
The government fees for One Person Company registration is as follows:
Name Approval – Rs 1000
Stamp Duty – Rs 1500
Pan and Tan – Rs 160
Digital Signature – Rs 2000