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One person company

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One Person Company

As per definition provided under section 2(62) of the Companies Act, 2013, One Person Company (OPC) means a company which has only one person as a member.

An OPC is a new development in the corporate history in India. This form enables a sole proprietor or sole partner to convert his firm into a limited liability company and derive the advantages of an incorporated company.As per Companies Act 2013, one Person Company shall be considered as a private limited company.

An OPC may be a hybrid structure, whereby it combines most of the advantages of a sole ownership and a corporation type of business.The best half is, legal and monetary liability is prescribed to the corporate and not the member. Hence, you are doing not got to share your piece of cake within the name of the partnership. You’ve got Associate in Nursing idea…You own it! Begin your own OPC.

 

Characteristics of One Person Company
  • Minimum 1 members
  • Maximum 1 members
  • Minimum 1 nominee
  • Maximum 1 nominee
  • Minimum Director 1 ( section 149 )
  • Maximum Director 15 ( section 149 )

Only a natural person, Indian citizen, and resident in India can incorporate OPC

Any person satisfies following 3 conditions:

  • Natural person
  • An Indian citizen
  • Resident in Indian
  1. Shall be eligible to incorporate an OPC.
  2. Shall be a nominee for the role of a member of an OPC.

 

Don't for One Person Company
  • No minor shall become member or nominee of the OPC or can hold the share with beneficial interest.
  • OPC cannot be incorporated or converted into a company under section 8 of the company.
  • OPC cannot carry Non-Banking Financial investments activities including investment in securities of anybody corporates.
  • OPC can convert voluntarily into any kind of company unless two years have expired from the date of incorporation of OPC except threshold limit (paid-up share capital) is increased beyond Rs.50 Lakhs or its average annual turnover during the relevant period exceeds Rs.2 Crores i.e., if the Paid-up capital of the Company crosses Rs.50 Lakhs or the average annual turnover during the relevant period exceeds Rs.2 Crores, then the OPC has to invariably file forms with the ROC for conversion into a Private or Public Company, within a period of Six Months on breaching the above threshold limits.

Registration Karwalo is that the market leader in company registration services in Delhi, providing a spread of company registration like Public company registration, one person company registration, Nidhi Company Registration, Section eight Company Registration, Producer Company Registration and Private Limited Company registration etc. Get a free consultation for one person company registration by scheduling an appointment from Registration Karwalo.

 

Documents required for One Person Company Registration
  • Copy of PAN card of Directors
  • Passport size photographs of Directors
  • Copy of Aadhaar card / Voter ID card/ passport/Driving License of Directors
  • Copy of rent agreement ( if property is rented)
  • Electricity Bill/ Water bill( Business Place)
  • Running bank account statement or mobile phone bill of the promoter directors showing the address of the premises.
  • Copy of Property Paper (if owned Property)
  • Land Lord NOC (Format will provide by us )
  • Written Consent of Nominee in form INC-3

 

 

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