Register a One Person Company

One Person Company is a type of Private Limited Company, which allows entry into corporate world by the single entrepreneur by holding 100% share in a Company. OPC by nature is a Private Limited Company and all provisions applicable to Private Company are applicable to OPC unless exempted or expressly provided. It is a best suitable organisation for the promoter who is not willing to get any interruption of any other Partner and do not wish to dilute the share of ownership or control over company.

To register One Person Company (OPC) in India, the DSC (Digital Signature Certificate) and DIN (Director Identification Number) of all the directors and Subscriber to MOA (owner) along with the Nominee is to be acquired. The Registered Office shall also be in existence for online Private Limited Company Registration.

Digital Signature Certificate is provided in a token form and issued by Certified Authorities. Any form filed to register an OPC in India shall be submitted after affixing the DSC of an Applicant. Also, the directors will require DSC for DIN application and the subscribers to MOA along with the Nominee shall possess DSC for submitting e-forms.

Director Identification Number is a unique number assigned by the Ministry of Corporate Affairs (MCA) to Individuals on application made, which allows any individual to be Director in any Company or Designated Partner in LLP and Nominee at the One Person Company in India.

One can incorporate a One Person Company with any amount of Paid-up Capital. However, fee must be paid to the Government for issuing a minimum of shares worth Rs. 1 lakh [Authorized Share Capital] during registration of OPC in India. Nevertheless, the paid-up capital shall not exceed Rupees 50 Lakh as it attracts mandatory conversion into Private or Public Company.

Authorised capital shows maximum amount of capital, a company can raise by way of issue of shares at present or in future whereas the Paid-up Capital refers to the actual amount raised by and introduced in the Limited Company i.e. paid by shareholders to the Limited Company on issuance of shares. A company can be incorporated by any amount of Paid-up capital, which can be less that authorised capital but not exceeding such.

In order to register OPC in India, as the name suggest, there is only one owner i.e. Shareholder in the One Person Company. Further, one nominee is to be appointed with his consent. With regards to Director, appointment of minimum 1 Director is also prescribed.  Here, the Shareholder and the Director can be the same person.

The requirement of appointment of nominee is prescribed in order to retrain the character of Perpetual Existence i.e. Uninterrupted Existence of the One Person Company. A nominee shall be individual only and is to be appointed while incorporation of the OPC. In event of death or incapacity to contract of existing member, the nominee will become member of the one person company.

The member/nominee shall be an individual being Resident of India. Further, he or she shall not be minor or incompetent to contract. In addition to same, the Nominee shall hold DIN (as explained above) and give his consent to company for appointment as nominee.

There are no limitations in terms of citizenship or residency to be a director. But the person should be 18 or above 18 years of age i.e. not a minor. Also, the proposed director shall have DIN (as explained above) and not be disqualified to be appointed as director in Limited Company as per the provisions of Indian Companies Act, 2013.

No. Only an individual can be a member in the One Person Company.

A nominee in the OPC shall be an individual only and not a Body Corporate. Further, the consent of the Nominee is also required in the format provided for appointment.

To register One Person Company, identity proof and address proof of the subscriber to MOA, Nominee and the proposed director is mandatory requirement. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.

An address in India where the registered office of the Company will be situated is must requirement for One Person Registration in India. The premises can be a commercial / industrial / residential where communication from the MCA will be received.

An OPC can be converted into Private or Public Company only after passing of 2 years from the date of Incorporation.

When the paid-up capital of the OPC exceeds 50 lakh Rupees, or Average Annual Turnover during relevant period exceeds 2 Crore Rupees, the OPC must be converted into Pvt Ltd Company or Public Ltd Company. The mandatory conversion will take effect irrespective of period of existence of OPC.

No, the individual can be the owner of only 1 OPC. Hence, he/she cannot register two or more One Person Company at the same time.

No, you will not have to be present at our office or appear at any office for the incorporation of a One Person Company. All the documents can be uploaded online due to centralised online registration portal provided by Ministry of Corporate Affairs.

Legalwiz.in can incorporate a One Person Company in 10-15 working days. The time taken for incorporation will depend on submission of relevant documents by the client and response of Government Approvals. To ensure speedy incorporation, please choose a unique name for your Company and ensure you have all the required documents prior to starting the incorporation process.

Once a company whether being an OPC or otherwise, has a unique characteristic of uninterrupted existence. Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of up to 20 years.

The promoter of the company should make sure that the proposed name of the OPC for online registration is very unique. Further, all the documents with respect to the Subscriber, Nominee and Directors as well as Registered Office shall be as per the requirement.

 

To know more about choosing the name for the company, please visit here Mark Business Identity Wisely – Choosing the name of Company

Alike a Private Limited Company, an OPC shall hold a Board Meeting and an AGM. The Meeting of Board of Directors shall be held at least once in each half of the calendar year, where the gap between two meetings shall not be more than 90 days. Fulfilment of Annual Compliance Requirements is must to maintain active status of the One Person Company in India.

Alike every other entity, there are certain criteria laid down for mandatory registration under GST. Following are few general criteria for mandatory registration:

- An aggregate turnover exceeding Rs. 20 lakh in a financial year mandates registration for a dealer or service provider under this law. However, for dealers conducting business in north-eastern states of India, an aggregate turnover exceeding Rs. 10 lakh mandates a registration.

- Any online platform operator.  

For further information, please visit our page at GST Registration

No, it is not necessary to make an application of Trademark Registration for Company Name.The name of the One Person Company itself is unique and the same name is not allotted to any other body-corporate being any company or LLP as their name. Beside this protection, you can voluntarily apply for the Trademark registration to protect name form unauthorised usage by Sole Proprietor and Partnership Firms, etc.

 

Know more at Trademark – Owned by Company or by Promoter and Assigned to Company?

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