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One Person Company

Thinking of starting a business on your own? An One Person Company (OPC) lets a single individual own and manage a limited liability company. It’s the perfect solution for solo entrepreneurs who want the benefits of a corporate structure and limited liability without having to give up control.

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One Person Company (OPC) Registration in India: The Best of Both Worlds

Are you a solo entrepreneur looking for the legal protection of a company without the complexity of a partnership? A One Person Company (OPC) is the perfect solution. It allows a single individual to act as both the director and shareholder, offering the simplicity of a sole proprietorship with the crucial advantage of limited liability.

At FileMyFirm, we specialize in providing seamless OPC registration online. Our team of experts handles everything from document preparation to filing with the Ministry of Corporate Affairs (MCA), ensuring a quick, affordable, and hassle-free experience. With our guidance and transparent OPC registration fees, you can launch your business with confidence.

What is a One Person Company (OPC)?

Introduced under the Companies Act, 2013, an OPC is a revolutionary business structure designed for individual entrepreneurs. As per Section 2(62) of the Act, an OPC is a company that has only one person as a member (shareholder). It’s a hybrid structure that bridges the gap between a sole proprietorship and a private limited company.

Key characteristics of an OPC include:

  • Single Owner: A single person can be both the director and the shareholder.
  • Nominee: A nominee must be appointed who will take over the company in case of the promoter’s death or incapacity.
  • Limited Liability: The owner’s personal assets are protected from business liabilities.

Eligibility Criteria for OPC Registration

To be eligible for OPC registration, you must meet the following requirements:

  • Natural Person: Only a natural person can form an OPC.
  • Indian Citizen & Resident: The individual must be an Indian citizen and a resident of India (stayed in India for at least 120 days in the previous financial year).
  • Nominee: The nominee must also be a natural person and an Indian citizen.
  • One OPC per Person: An individual can incorporate or be a nominee in only one OPC at a time.
  • Restricted Activities: OPCs cannot engage in non-banking financial activities or be formed as a Section 8 (non-profit) company.
  • Mandatory Conversion: If the paid-up capital exceeds ₹50 lakhs or the annual turnover exceeds ₹2 crores, the OPC must be mandatorily converted into a private limited company.

Advantages of OPC Registration

Registering an OPC offers several significant benefits for a solo entrepreneur:

  • Limited Liability Protection: Your personal assets are legally separate from the company’s liabilities, providing financial security.
  • Separate Legal Entity: The OPC has its own legal identity, which enhances credibility and trust with customers, banks, and suppliers.
  • Easier Access to Funding: Financial institutions and investors are more likely to lend to or invest in a registered company than a sole proprietorship.
  • Complete Control: As the sole director and shareholder, you have complete authority over all business decisions.
  • Perpetual Succession: The business continues even in the event of the promoter’s death, as the appointed nominee takes charge.
  • Reduced Compliance: OPCs enjoy certain exemptions under the Companies Act, reducing the administrative burden.

The OPC Registration Process in India

The entire OPC registration process is conducted online through the MCA’s SPICe+ portal. Here is a step-by-step guide:

  1. Obtain DSC & DIN: Secure a Digital Signature Certificate (DSC) and a Director Identification Number (DIN) for the proposed director.
  2. Name Reservation: Reserve a unique name for your OPC through the SPICe+ Part A form. The name must end with “(OPC) Private Limited.”
  3. Document Drafting: Draft the Memorandum of Association (MoA) and Articles of Association (AoA), which define the company’s objectives and internal rules.
  4. Nominee Consent: Obtain consent from your chosen nominee in Form INC-3.
  5. File Incorporation Forms: File the complete SPICe+ Part B form along with all the required documents and declarations.
  6. Certificate of Incorporation: Upon verification, the Registrar of Companies (RoC) will issue the Certificate of Incorporation, along with the company’s PAN and TAN.

Documents Required for OPC Registration

To ensure a smooth registration, you will need the following documents:

  • Director & Nominee: PAN Card and Aadhaar Card.
  • Registered Office Proof: A recent utility bill (not older than two months) and a No-Objection Certificate (NOC) from the landlord (if the office is rented).
  • MoA & AoA: The company’s Memorandum of Association and Articles of Association.
  • Other Forms: Nominee Consent (Form INC-3), Director’s consent (Form DIR-2), and Director’s Declaration (Form INC-9).
  • Digital Signature Certificate (DSC) of the director.

OPC Registration Fees & Cost in India

The cost of OPC registration varies based on several factors, including government fees, stamp duty, and professional charges. FileMyFirm offers a transparent fee structure to help you get started without any hidden costs.

Typical Cost Breakdown:

  • DSC & DIN: Professional charges for securing these documents.
  • Government Fees: Includes fees for name reservation and filing the incorporation forms.
  • Stamp Duty: State-specific duty on the MoA and AoA.
  • Professional Fees: Our expert charges for drafting documents, filing, and providing end-to-end guidance.

With FileMyFirm, you get comprehensive service at an affordable price, ensuring your OPC is registered quickly and correctly.

Ready to start your venture? Contact FileMyFirm today to get your One Person Company registered online—the smart choice for modern entrepreneurs.

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