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One Person Company

One Person Company

One Person Company (OPC) is a type of company registration in India that allows an individual to start and manage a business independently. This concept was introduced in the Companies Act 2013 to encourage entrepreneurship and provide a platform for small business owners to operate their companies with limited liability.

₹2118 excl. GST

What is OPC Registration?

OPC registration is a popular option among sole proprietors and small business owners who want to separate their personal assets from their business liabilities. It offers several advantages, such as limited liability protection, a separate legal identity, and easier access to funding and business opportunities.

 

The registration process for OPC is straightforward and requires only one director and shareholder. The process involves obtaining a Digital Signature Certificate (DSC) and Director Identification Number (DIN) and filing the necessary documents with the Registrar of Companies (ROC).

 

Once registered, an OPC has perpetual succession and can continue to exist even after the death or incapacitation of the owner. It is an ideal option for entrepreneurs who want to establish a company with limited liability and a separate legal identity while retaining complete control over the business.

One Person Company Registration FAQs

Here are 5 frequently asked questions (FAQs) related to OPC registration:

 

Q.1 Who is eligible to register an OPC? 

Any Indian citizen over 18 years of age can register an OPC. However, they must be a resident of India and cannot be a nominee or a member of more than one OPC.

Q.2 How is an OPC different from a sole proprietorship?

OPC provides limited liability protection to the owner, while a sole proprietorship does not. Additionally, OPC has a separate legal identity and can continue to exist even after the death or incapacitation of the owner. In contrast, a sole proprietorship ceases to exist after the end of the proprietor.

 

Q.3 What are the documents required for OPC registration? 

The documents needed for OPC registration include a PAN card, an Aadhaar card, a passport-size photograph, proof of registered office address, and a Memorandum of Association (MOA) and Articles of Association (AOA).

 

Q4. Can an OPC be converted into a private limited company? 

Yes, an OPC can be converted into a private limited company if it meets certain conditions, such as a turnover of more than Rs. 2 crores or a paid-up capital of over Rs. 50 lakhs.

 

Q5. Is it necessary to have a nominee for OPC registration?

Yes, every OPC must have a nominee who will become the company's owner if the original owner becomes incapacitated or dies. The nominee must be an Indian citizen and over 18 years of age.

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