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One Person Company Registration
One Person Company Registration
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Choosing to register as a One Person Company (OPC) in India is a strategic decision for solo entrepreneurs looking to start a business with limited liability. This form of registration is particularly favored for its simplicity and flexibility, allowing an individual to operate a company with the benefits of a separate legal entity. The registration process is regulated by the Ministry of Corporate Affairs, ensuring compliance with Indian company law and provisions under the Companies Act, 2013.

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One Person Company Registration

One Person Company Registration is a viable option for individuals aiming to initiate a business independently. As per the Companies Act of 2013, an OPC is characterized by having a single shareholder who is the sole member of the company. This distinct structure contrasts with Private Limited Companies or Limited Liability Partnerships, which necessitate a minimum of two members.
Operating as an OPC affords several advantages akin to traditional companies, including limited liability protection and business continuity. It establishes a separate legal entity, thereby segregating personal and business finances, facilitating more streamlined financial management. The process of OPC incorporation is notably straightforward, simplifying the commencement of entrepreneurial endeavours.
Every OPC is mandated to nominate a nominee Director in its Memorandum of Association (MOA) or Articles of Association (AOA). This individual assumes ownership of the OPC in the event of the incapacitation of the primary Director. Additionally, OPCs are required to submit audited financial statements to the Ministry of Corporate Affairs at the close of each fiscal year. Hence, prospective entrepreneurs must carefully evaluate OPC characteristics prior to establishment.
Key considerations include:
OPC formation is restricted to natural persons who are Indian residents, excluding entities such as AOPs or corporations.
An individual can only be a member or nominee of one OPC at any given time.
Conversion of an OPC is mandatory if its paid-up share capital exceeds Rs. 50 lakh or its average annual turnover surpasses Rs. 2 crores over three consecutive financial years.
OPC regulations do not permit operations akin to Non-Banking Financial Institutions.
It's crucial to differentiate OPCs from sole proprietorships in OPCs, the promoter enjoys limited liability, shielding personal assets from business liabilities.
For aspiring entrepreneurs in India seeking to establish a business entity combining the benefits of limited liability with the operational simplicity of solo management, One Person Company Registration presents an optimal avenue to explore.

Documents Required for One Person Company Registration

The following documents are required for the registration of a One Person Company (OPC):

For Directors & Shareholders

Self-attested copy of PAN Card
A self-attested copy of any one Identity Proof (Aadhaar/Voter’s ID/Passport/Driver’s License)
A self-attested copy of Address Proof in the director's name (Recent utility bill like mobile bill/water bill/electricity bill, or bank statement not older than two months)
Passport-sized photograph
Mobile Number & Email id

For Registered Office

Rent Agreement (Notarized, for rented property)
Sale Deed/Property Deed in English (for owned property)
Property Tax Receipt
No-objection Certificate from the property owner
Latest utility bills such as Electricity Bill, Mobile or Telephone Bill, Bank Statement, or Gas Bill
Ensuring these documents are in order and accurately submitted facilitates the smooth processing of the OPC registration, adhering to regulatory requirements effectively.

One Person Company Registration Process

The registration process for establishing a One Person Company (OPC) involves several structured steps:

Obtaining Digital Signature Certificate (DSC) and Director Identification Number (DIN)

Before initiating OPC registration, it is essential to procure a DSC for the proposed Director(s) and obtain DIN. This requires submission of necessary scanned documents and details. The application for DIN and DSC can typically be processed and completed within 1 to 2 days.

Name Approval

The next step while incorporating an OPC is to decide on the name of the Company. The name of the Company will be in the form of “ABC (OPC) Private Limited”.
The name can be approved in the Form SPICe+ application. Only one preferred name along with the significance of keeping that name can be given in the Form SPICe+ application. If the name gets rejected, another name can be submitted by applying another Form SPICe+ application.
Once the name is approved by the MCA we move on to the next step.
Name approval generally takes 2 to 3 working days.

Drafting MOA and AOA Electronically

The Memorandum of Association (MOA) and Articles of Association (AOA) are electronically drafted using the Spice MOA (INC-33) and Spice AOA (INC-34) forms. This process typically requires 2 to 3 days to complete.

Company Registration

Once the e-MOA and e-AOA are drafted, they are submitted along with Form INC-32 (commonly known as Spice Form) to the MCA for incorporation. Additionally, forms 49A (PAN) and 49B (TAN) must be filed concurrently with Spice INC-32. The MCA usually processes the application for incorporation within 5 to 7 days, contingent upon their procedural timelines. It is critical to ensure forms 49A and 49B are filed within 2 days of submitting Spice INC-32 to avoid invalidation of the incorporation application.
This structured approach ensures compliance with legal requirements and facilitates the efficient establishment of an OPC, enabling entrepreneurs to embark on their business endeavours promptly and in accordance with regulatory standards.

Choose Lexprosoft for Your One Person Company Registration!

Choose LexproSoft for your One Person Company (OPC) registration! Our expert team will guide you through the entire process, ensuring smooth and hassle-free registration while complying with all legal requirements. With affordable fees and personalized support, we help you set a strong foundation for your business success.
Contact our Experts today and take the first step towards your startup success!
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One Person Company (OPC) Registration FAQ's
What is a One Person Company (OPC)?
A One Person Company (OPC) is a business structure where a single individual can start a company with limited liability, offering the benefits of a company without the requirement for multiple shareholders.
Who can form an OPC?
An individual who is a citizen and resident of India can form an OPC. The individual must not be a nominee in another OPC.
What are the benefits of registering an OPC?
1. Limited liability protection for the sole owner.
2. Separate legal entity.
3. Less compliance compared to private limited companies.
4. Flexibility in management.
What are the key requirements for OPC registration?
One shareholder and one director.
Director and shareholder must be the same person.
Must have a registered office in India.
The shareholder must be a resident of India.
What is the minimum capital required for OPC registration?
There is no minimum capital requirement for OPC registration. However, the capital is decided by the shareholder, and the company must meet the required filing fees.
How long does it take to register an OPC?
OPC registration typically takes 7-10 business days if all the documents are in order and there are no objections in the name approval process.
What is the OPC Memorandum and Articles of Association?
The Memorandum and Articles of Association (MoA and AoA) are legal documents that define the company’s objectives, structure, and governance rules. These documents must be filed during registration.
How is OPC taxed?
OPC is taxed as a separate legal entity. Its income is subject to corporate tax rates, and any profits distributed as dividends are taxed at the shareholder level.
Can OPC be converted into a private limited company?
Yes, OPC can be converted into a private limited company if the paid-up capital exceeds ₹50 lakhs or if the annual turnover exceeds ₹2 crore.
What happens if the sole director of an OPC dies?
In case of the death of the sole director, the OPC must appoint a new director within 6 months. If no director is appointed, the company may be dissolved.
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