ONE PERSON COMPANY REGISTRATION @ Rs 9500
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Get your one-person private limited registration at Rs 9500. The One Person Company (OPC) is a unique business entity recognized by the Companies Act, 2013. It's a hybrid business structure that offers the advantages of both sole proprietorship and company types.
An OPC requires only one individual who assumes roles as both director and shareholder. This setup eliminates the challenge of finding suitable partners for starting a registered entity. Notably, the legal and financial liabilities are limited to the company, safeguarding the individual member from personal liability.
Single Owner
To set up a One Person Company, eligibility requires the individual to be an Indian resident and citizen.
Directors
A company must have at least one director, and the sole shareholder can also serve as the sole director. The maximum number of directors allowed for a company is 15.
Capital Requirement
A One Person Company can commence with any capital amount. If the paid-up capital reaches or exceeds 50 lakhs, the OPC status changes to that of a private limited company.
Ease Of Raising Fund
Like a Private organization, One Person Company can raise loan through funding, budgetary establishments, heavenly attendant speculators and so on. A One Person Company can raise supports subsequently graduating itself to a private limited company.
Less Compliance
One Person Companies face fewer compliance burdens than private limited companies. This allows OPCs to focus more on essential core areas of their operations.
Entire Control With Single Person
This allows for swift decision-making and operation. However, a maximum of 15 Directors can be appointed in the OPC for managerial roles.
Opt For Small Business Entity
An OPC is suitable only for individuals. If an OPC exceeds a Paid-up Share Capital of Rs. 50 Lakhs or a Turnover of Rs. 2 Crores, it must be converted into a Private Limited Company.
Single owner
To set up a One Person Company, eligibility requires the individual to be an Indian resident and citizen.
Directors
A company must have at least one director, and the sole shareholder can also serve as the sole director. The maximum number of directors allowed for a company is 15.
Capital requirement
A One Person Company can commence with any capital amount. If the paid-up capital reaches or exceeds 50 lakhs, the OPC status changes to that of a private limited company.
Less compliance
One Person Companies face fewer compliance burdens than private limited companies. This allows OPCs to focus more on essential core areas of their operations.
Control with single
person
This leads to swift decision-making and execution. However, one can appoint up to 15 Directors in the OPC for managerial roles.
Applicability
OPCs are suitable only for individuals. If an OPC surpasses a paid-up share capital of Rs. 50 lakhs or a turnover of Rs. 2 crores, it must convert into a Private Limited Company.
FAQ on One Person Company
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What is the minimum requirement to form a one person company?Registering a company is effortless with Shoplegal. A single person can serve as director cum shareholder. Required proofs include PAN and Aadhar copies, along with one of these: Driving license, Voter ID, or Passport for permanent address. Additionally, submit one of these: Telephone bill, Electricity bill, Mobile bill, or Bank statement for present address proof. Simplify the process with guidance of Shoplegal.
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What way one person company is differentiated from proprietorship ?In a One Person Company, shareholder liability is restricted to the subscribed share capital. Unlike sole proprietorships, the shareholder's liability is limited, ensuring legal responsibility extends only to the invested capital.
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What is authorized capital and paid up capital?The authorized capital is the maximum share amount a company can issue. Paid-up capital, however, refers to the shares issued and subscribed by shareholders. Post incorporation, authorized capital can be increased as needed to issue more shares to shareholders. This flexibility allows for adjustments based on future requirements.
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Is it mandatory to deposit paid up capital subscribed by shareholder in bank account?After company registration, open a bank account in the company's name. Then, transfer the subscribed capital to this account. File the commencement of business within 180 days post incorporation to ensure compliance.
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Can foreigner or foreign company or nri register a one person company?NRI, foreigners, or foreign entities cannot establish a One Person Company (OPC).
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Is it mandatory to setup office for registering company in india?Every Indian-registered company needs a registered office for official communications from government bodies, banks, and more. The office location can be anywhere in India.
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How to check availability of name with ministry of corporate affairs?Feel free to share names using SHOPLEGAL's name availability link. We'll provide available names based on searches for similar registered names with MCA.
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Is gst registration mandatory for one person company to start business?GST registration is mandatory for certain business to start business, Service industry GST is not mandatory for turnover of upto 20 lakhs and Manufacturing and Trading industry GST is not mandatory for turnover upto 40 lakhs