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One Person Company

The Companies Act 2013 has brought about a novel feature called a One Person Company.

Rs. 12,999/- No Hidden Charges

What is a one person company?

One person company (OPC) is a new form of business introduced by Companies Act, 2013. It is hybrid form of business where a sole proprietorship concern can get a corporate outlook.

Advantages

  1. Single shareholder

    Single shareholder

    A single shareholder who can also be the sole director can start an OPC.

  2. Separate Legal Identity

    Separate Legal Identity

    OPC gets the status of a separate legal entity.

  3. Fewer rules and compliances

    Fewer rules and compliances

    OPC has to comply with fewer rules and regulations when compared to other forms of companies.

  4. Limited liability

    Limited liability

    The sole shareholder gets to enjoy the limited liability feature of a company.

  5. Access to public funds

    No minimum capital required

    No minimum capital is required to start an OPC.

Disadvantages

  1. Suitable only for small businesses

    Suitable only for small businesses

    OPC is suitable only for small businesses, OPC can have maximum Paid up share capital of Rs.50Lakhs or Turnover of Rs.2 Crores. Otherwise OPC need to be converted into Private Ltd Company.

  2. Strict legal formalities and compliances

    Cannot convert into Sec8 Company

    One Person Company cannot be incorporated or converted into a company under Section 8 of the Act.

  3. share

    Cannot run NBFC business

    One Person Company cannot carry out Non – Banking Financial Investment activities including investment in securities of anybody corporate.

Procedure for registration

Incorporating a company is now easier and less time consuming with the introduction of INC29 form.

FAQs

How many persons are required to incorporate a public limited company?

A Director and a nominee are required to incorporate a OPC.

Who is a nominee in the context of OPC?

A nominee is a person who takes over the company in the event of death or incapacity of the promoter.

Is there any threshold limit for an OPC to mandatorily get converted into either private or public company?

In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover exceeds during the relevant period exceeds two crore rupees, then the OPC has to mandatorily convert into private or public company.

What are the requirements to be a director or nominee in a OPC?

Only a natural person who is an Indian citizen and a resident in India is eligible to incorporate a One Person Company or be a nominee member.

How to intimate ROC that the OPC has exceeded the threshold limits and require conversion into private or public company?

The OPC shall inform ROC in form INC-5, if the threshold limits is exceeded and is required to be converted into private or public company.

What is the time limit for filing INC5?

Form INC-5 shall be filed within sixty days of exceeding threshold limits.

A person can become a member in how many OPCs?

A person can be member in only one OPC.

What if a member of an OPC becomes a member in another OPC by virtue of being a nominee in that other OPC?

In such a case, such person shall meet the criteria of being a member in only one OPC within a period of one hundred and eighty days i.e., he/she shall withdraw his membership from either of the OPC’s within one hundred and eighty days.

How to inform ROC about change in membership of OPC?

The company shall file form INC-4 in case of cessation of member of OPC on account of death, incapacity to contract or change in ownership. In the same form, user needs to provide details of the new member of the OPC.

What are the requirements with regard to the company’s name?

Company’s proposed name should be unique i.e., it should not be identical to any existing name. Names that infringe others’ rights, trademarks or patents are likely to be rejected by ROC.


Our Pricing

  1. Basic Plan

    Rs.13,999/-

    One director DSC,DIN,name approval,ROC fees,PAN,TAN,MOA,AOA,5 set of books.

    Buy

  2. Gold Plan

    Rs.15,999/-

    One director DSC,DIN,name approval,ROC fees,PAN,TAN,MOA,AOA,5 set of books with service tax registration.

    Buy

  3. Platinum Plan

    Rs.22,999/-

    One director DSC,DIN,name approval,ROC fees,PAN,TAN,MOA,AOA,5 set of books with service tax registration, Trade mark registration.

    Buy

Call us for further details — 9884113300

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