A One Person Company (OPC) is a combined package of a Sole Proprietorship business and a Company so it’s suitable for those entrepreneurs who want to do 100% control of the business.
An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. it’s suitable for those entrepreneurs who want to do 100% control over their business It has only one person as a member who will act in the capacity of a director as well as a shareholder. Thus, it does away with the hassles of finding the right kind of co-partner/s for starting a business.. The best part is, legal and financial liability is limited to the Company and not the member.
Self attested copy of PAN Card
Self attested copy of Voter ID/Passport/Driver License (Any One)
Latest Bank Statement/Telephone or Mobile Bill/Electricity / Gas Bill (Any One and not older than 2 month)
Scanned passport-sized photograph
Sale Agreement and one Utility Bill /If Rented Than Rent Agreement and NOC from Owner
Aadhar scanned Copy
1 person required to be both
One Nominee required
OPC Company is registered under companies act 2013 and consider as separate legal entity and run under companies act provision and rules made there under.
The following documets are required for director and nominee.For Id prof - Following are the 3 documets are accepted as Id Prof
For Address Prof - Following are the 5 documets are accepted as address Prof and it should not be older than 2 month.
Latest Bank Statement/Telephone Bill/Mobile Bill/Electricity Bill/Gas Bill
Registered office is the address which are registered with concerned ROC and it can be happened in commercial as well as residential premises also and documents required for that is-
NOC From Owner
Any address can be provided as the OPC registered office address for the incorporation purpose However consent of the owner is must for the using the property for business purpose.
There is no minimum capital requirement prescribed to OPC company however if Company put any capital eg. 1 Lacs than same is not necessary to pay to bank and it can be adjusted against pre incorporation expenses or you can show this as capital infused in form of assets such as computers, furniture etc.
Usually, we register a company within 7-18 business days
DIN is a director identification number. DIN is allocated through SPICe Form if not allotted earlier.
The DSC is a digital signature certificate which is issued by the certifying authority to sign the electronic documents.
MOA defines mission, vision, and business object of the company and AOA refers to articles of association which defines the internal constitution of the company,
As per the Companies Act provision, the company name should be unique and not resembling with existing company name, and it should reflect the business object.
No, your physical presence is not required during the process, all the documents need to submit online in soft copy.
Mandatory annual compliances for OPC. Company is as below-
1. Auditor Appointment.
2. Income Tax Return filing.
3. Filing of Annual Return in form MGT-7 and financial statements in AOC-4.
GST Registration is not mandatory until the turnover of company reaches 20 lakh rupees.
Yes, you are eligible for multiple businesses under one person company. However, you need to mention the detail of these businesses in the MOA of the company.