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One-Person Company
Registration

The Companies Act of 2013 introduced the concept of a One-Person Company (OPC) to protect entrepreneurial rights in India. This allows a single individual to establish and operate a company with full legal standing. OPCs provide entrepreneurs with the freedom to manage their businesses independently.

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One-Person Company Registration

ECS India offers one-person company registration, enabling entrepreneurs to establish and manage their businesses independently. This legal structure provides full control and protection under the Companies Act of 2013.

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One-Person Company Registration

The Companies Act of 2013 created one-person company registration as a completely new idea to protect the entrepreneurial rights of India’s entrepreneurs. This idea grants OPCs legal standing to function freely in India. OPC is primarily a company founded by a single individual who also manages its commercial operations. 

OPCs provide a channel for single proprietors wanting a formal corporate structure. Before the Companies Act of 2013, single entrepreneurs could not incorporate a one-person company. Such people could only set up a sole proprietorship. 

Minimum of two directors and two members are required to form a corporation. Such types of companies are not subject to the same simple compliance requirements as companies. An Indian citizen, or even an NRI, is eligible to form an OPC. 

Documents required

The following are the features of an LLP in India.

PAN Card and Aadhar Card for all directors

Voter ID Card, Driving Licence, or Passport for all directors/nominees

Passport-size photo of all directors

Recent bank statement or electricity/water bill for address proof

Name and activity of OPC

Provide proof of address, such as a recent electricity or phone bill, a rental agreement, or an ownership document.

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Benefits of One-Person Company Registration

In India person companies (OPCs) provide incentives to single entrepreneurs. Let's look at the advantages of OPC in depth below

Simple Incorporation Process: - Incorporating an OPC is easy and hassle-free. It just requires one member and one nomination, and the member can also be the director.

Separate Legal Entity: - The OPC is a fully functional legal entity. It has the right to conduct business and operations by applicable laws and regulations.

Limited Liability:- As a separate legal body, the OPC operates independently of its members. It protects its single shareholder by limiting his liability to the shares. The single shareholder is not personally responsible for any losses incurred by the OPC while carrying out its business.

Easy Fund Raising: - As a legal private company, OPC can raise funding for operations. OPCs look at several fundraising options such as venture capital, angel investors, and incubators.

Ease of Management - Since an OPC is established by a single stakeholder, decision-making is simple. Ordinary and extraordinary resolutions can be passed simply by inserting them into the minute book. The entry must be signed by one member. Therefore, all business concerns can be handled without any conflicts of interest or opinions.

Continuous Succession - Even with a single shareholder, an OPC benefits from continuous succession. At the time of incorporation, the single member picks a nominee

Eligibility Criteria for One-Person Company (OPC) Registration.

In India, one must meet specified eligibility conditions to register a Person Company (OPC).  This includes the following:

Only Indian citizens and residents are eligible to establish an OPC.

NRIs can now register for an OPC in India.

OPCs can only be incorporated by normal persons, not legal entities or companies.

Individuals must be at least 18 years old to incorporate an OPC. The age requirement is a must.

An OPC is founded by a single person and has only one shareholder and director.

The person incorporating an OPC must suggest a nominee. The OPC nominee must be an Indian citizen and resident, but cannot be the same as the shareholder. When a shareholder dies or becomes unable to administer the company, the nominee takes over the activities.

Not all businesses in India can register as OPCs. Nonprofit organizations, banking/financial institutions, and enterprises that invest in securities are ineligible to register as OPCs.

One shareholder can only incorporate one OPC at a time. If a shareholder already owns an OPC, he cannot register another one.

Procedure for one-person company registration

ECS India simplifies the one-person company registration process, guiding you through document submission, DIN application, name approval, and incorporation, ensuring your business is legally established with minimal hassle.

Digital Signature Certificate (DSC) :- The first step is getting a Digital Signature Certificate (DSC) for the proposed director. The OPC's incorporation documents must be signed using DSC.

Director Identification Number (DIN) :- The next step is to get a Director Identification Number (DIN) for the proposed director. It can be done by submitting the SPICe+ form to the Ministry of Corporate Affairs.

Name for the OPC :- The next step is to reserve the name for the OPC. This can be accomplished by submitting the SPICe+ form through the Ministry of Corporate Affairs (MCA) webpage. However, one must be careful while selecting an individual name that does not clash with any current corporation or property.

Research of MOA and AOA :- The next stage is to write the Memorandum of Association (MOA) and Articles of Association (AOA) for the OPC. The MOA and AOA describe the company's aims, structure, policies, and internal regulations.

Certificate of Incorporation :- Next Registrar of Companies (ROC) should verify the mandatory compliances and issue a Certificate of Incorporation. It specifies the completion of the registration process for the OPC. However, the PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are generated automatically throughout this process. It saves applicants time and effort as it removes the need to apply for these documents separately.

Submission of Forms :- The next step is to submit completed forms for OPC registration through the Ministry of Corporate Affairs (MCA) portal. The applicant must include all applicable documents with the SPICe+ form, such as the MOA, AOA, declarations, address evidence for the registered office, nominee appointment, and any other documents required by the MCA.

Certificate of Incorporation :- Next Registrar of Companies (ROC) should verify the mandatory compliances and issue a Certificate of Incorporation. It specifies the completion of the registration process for the OPC. However, the PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are generated automatically throughout this process. It saves applicants time and effort as it removes the need to apply for these documents separately.

How can we support with One Person Company Registration?

We have an excellent team of professionals who can provide a hassle-free and error-free Online Company Registration Service in India. Our professionals have been doing Person Company Registration daily while also staying up to date on MCA’s new registration procedures. Hence, we can offer you the best business incorporation service that supports MCA functionality

ECS India facilitates seamless One Person Company registration, providing step-by-step assistance with name approval, DIN application, document filing, and incorporation, making it easy to establish your business independently.

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One Person Company Registration Now!

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Our expert team of professionals is ready to guide you through the entire process, ensuring a hassle-free and smooth registration. Our goal is to make it as easy and stress-free as possible.

FAQ

What is a One-Person Company (OPC)?

A One-Person Company (OPC) is a type of business structure introduced by the Companies Act, 2013, allowing a single individual to incorporate and manage a company. It provides the benefits of limited liability and a separate legal identity, making it an excellent option for solo entrepreneurs.

Can an NRI register an OPC in India?

Yes, Non-Resident Indians (NRIs) can now register an OPC in India. However, the nominee for the OPC must also be an Indian resident and citizen.

What is the role of a nominee in an OPC?

A nominee is a designated individual who assumes control of the OPC in the event of the sole shareholder’s demise or incapacity. The nominee cannot be the same person as the shareholder and must be an Indian citizen and resident.

What are the advantages of registering as an OPC?
  • Limited Liability: – The member’s liability is limited to the extent of their shareholding.
  • Separate Legal Entity:- The OPC is a distinct legal entity, separate from its member.
  • Perpetual Succession:- The company continues to exist even if the member passes away or becomes incapacitated.
  • Simplified Compliance:- OPCs have fewer compliance requirements compared to private limited companies.
Who is eligible to incorporate an OPC?

Only a natural person who is an Indian citizen and resident in India is eligible to incorporate an OPC. A “resident in India” is defined as someone who has stayed in India for at least 182 days during the immediately preceding financial year.

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