One Person Company
For Sole Founder- 1 Digital Signature
- 1 Share Holder
- 1 PAN Card + 1 TAN Card
- 1 Digital Signature
- GST (Optional)
What You Will Get
DIN for 2 Directors
MOA + AOA
Customized Incorporation Master File
1 Digital Signature Token
Incorporation Certificate
Company PAN Card
Company Name Approval
Company TAN/TDS Number
Documents Required
Only Scanned Copies are needed, Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving
Premises
Rent agreement – NOC
Electricity bill
Directors
Photos of directors
Aadhar card
Pan card
Specimen signature
Self-declaration about the directorship
MARKET VALUE
An OPC is registered under the Companies Act and enjoys the same privileges that come with a firm being listed as a private limited company.
EASY CREDIT FACILITIES
The legality of this type of business, and also the perpetual succession clause, makes it popular among banks and financial institutions.
EAISER RETURN FILING
While it is mandatory for an OPC to get its accounts audit and file requisite annual returns, the same can be easy with the signature of the director; the need for a company secretary’s signature is not mandatory.
SAFETY NET
According to the Companies Act, the liability of the single shareholder in an OPC is limited to the unpaid subscription money in his/her name. This means that his/her personal property is completely safe from creditors of the business
OPC Company Registration Cost
Our pricing is 100% transparent. One Person Company is popular among sole founders.
| Company Name Search | Free |
| Consultancy on Registration and Name Availability | Free |
| GST Registration (Optional) | Free |
| 1 DSC | 1,000.00 |
| Government Fees | 1,000.00 |
| Stamp Duty | 1,510.00 |
| Documents Notarization Cost | 500.00 |
| PAN and TAN Fees | 170.00 |
| Professional Fees | 3,083.00 |
| Goods & Service Tax | 736.00 |
| Total Cost | 7,999.00 |
* The above mentioned government fee has been calculated on minimum contribution of Rs.100000
** Stamp duty may vary state to state
How long does it take?
5 days
DAY 1
Digital Signature Certificate
1 Working Day
DSC is an electronic online signature issued by licensed certifying authorities. All the proposed directors of the company required to apply for the digital signature (DSC) which is necessary for digitally signing the electronic incorporation documents. DSC can be obtained either using supporting documents or Aadhar eKYC based authentication (supporting documents are not required in this case).
DAY 2
Director Identification Number
1 Working Day
ODIN or DPIN, i.e. directors PIN is a unique eight-digit identification number which is a mandatory requirement for existing as well as proposed directors of the company to maintain the director’s information in a database. MCA (Ministry of Corporate Affairs) allots a DIN to every director of the company with a lifetime validity without which one cannot be a director.
DAY 3
Name Approval
1 Working Day
Once we obtain the DIN and DSC of the directors, a list of minimum one or maximum 2 Proposed names of the company in preferential order will be submitted to MCA (Ministry of Corporate Affairs) for approval. Our representative will conduct a prior search for your name availability. Ideally, the name should be unique, suggestive of the business and end with the words ‘Private Limited’ in order to avoid the rejection. We get your company name approved subject to availability and naming guidelines.
DAY 4
Incorporation Documents
1 Working Day
After taking name approval, we draft a Memorandum of association and Articles of association for your company. All the incorporation documents need to be submitted with the prescribed e-form SPICe 32 along with the AOA, MOA and subscription statement. Once all the documents are duly verified and approved by the government, the certificate of incorporation is emailed to your id. Simultaneously, we will apply for PAN and TAN of your company.
DAY 5
Company Incorporated
Note:
The given timeline is based on the average time it takes a client to complete the service when all the documents are submitted and the Government platform is working seamlessly. The given timeline days is subject to change from client to client based on various factors.
Frequently Asked Questions
Who can form One Person Company?
An OPC can be formed only by a natural person who is an Indian citizen and stayed in India for a minimum of 182 days in the immediately previous calendar year.
What is the minimum number of Directors required to form an OPC?
Minimum one Director is required to incorporate an OPC. Further, the sole member can also become the first director of the Company till the member appoints any other director.
What is the minimum capital requirement to start an OPC?
As per the Companies Act, 2013 and Company (Incorporation) Rules these is no minimum capital requirement to incorporate an OPC in India. You can even start an OPC with a capital contribution as low as Rs. 2. However, the maximum capital allowed is Rs. 50 lakh.
Can I form two or more OPCs?
No, a member can’t incorporate more than one OPC as under Companies (Incorporation) Rules, 2014. Further, a Nominee can’t be a nominee and a member in two OPCs.
Who can be a Nominee?
As per Rule 3 of Companies (Incorporation) Rules, 2014 only a natural person who has attained majority and is an Indian citizen and resident of India in the previous calendar year can become a Nominee Director in an OPC.
When does a One Person Company require to convert itself mandatorily?
A One Person Company is required to be converted into a Private Limited or Public Limited company when it crosses the threshold limit of paid-up capital of Rs. 50 Lakhs or Average Turnover of Rs. 2 Crores in any year.
I am a sole member of an OPC (Name can’t be revealed). Recently my Average turnover crossed the threshold limit or Rs. 2 crores. What should I do now?
- Once your threshold limit is crossed either the paid-up capital or the average turnover; the OPC is mandatorily required to convert itself into a Private Company or a Public Company. Follow the steps below after crossing the threshold limit.
- File form INC-5 to inform ROC about the breach of threshold limit within 60 days of breach of limit.
- Convert the OPC into public or private Company as per the Companies Act, 2013 within six months period from the date of breach of threshold limit.
- Private Limited Company By virtue of section 2(68) of the Companies Act, 2013, Private Limited Company is a type of company which offers limited liability with certain restrictions defined in regulations:
- restricts the right to transfer shares
- Limits the numbers of its members to 200
- Prohibits any invitation to the public to subscribe for any shares in, are debentures of the company(No Public Trading of Shares)
- Prohibits any invitation or acceptance of deposits from persons other than its member
- The word ‘Private Limited’ must be added at the end of its name
- One Person CompanyOne Person Company popularly known as OPC introduced in India under the Companies Act, 2013. The concept of OPC is a fusion of sole proprietorship and private company which intends to permit single economic entrepreneurship to take the advantages of a corporate form of organisation.
- Limited Liability PartnershipLimited Liability Partnership is a corporate entity registered under Limited Liability Partnership Act, 2008. It is a form of partnership firm that enjoys limited liability. It is a hybrid form of a partnership that includes the features of a company. Compliances for a company are applicable to LLP.
Does one have to present physically to incorporate a business entity?
No, the whole incorporation process is online. You can send the scanned copy of all the required incorporation documents via e-mail. All the forms and documents are filed electronically and even signed digitally.
How to choose a name for a business entity to avoid rejection?
The company name should be selected with utmost care. The rules for selecting a company are:
- The name should be ended with the words “Private Limited” in case of private company, “OPC” in case of one person company and “LLP” in case of limited liability partnership which is mandated by law.
- The name must be unique.
- Follow the naming guidelines for better chances of approval.
- The name should be suggestive of the main objectives to be taken by the business entity.
What are the disadvantages of an OPC?
Disadvantages of forming an OPC are-
- Ineligible to carry Non- Financial Business Activities,
- Can’t convert voluntarily in any form of the company before two years of incorporation and prohibited to convert itself at any time into section 8 Company.
- Restrictions of a Private Limited Company apply to OPC also.
- It is more suitable for small entrepreneurs due to limited share capital structure.
How to inform ROC about the cessation of membership?
The OPC is required to file INC-4 in case of cessation of membership on account of death, incapacity or change in ownership. In the same form, the details of a new member are required to be mentioned.
Is there any form required to be filed in case of conversion of OPC into a Private Limited or Public Limited Company?
Yes, a form INC-6 is required to be filed with ROC in case of conversion of OPC into any form of the company whether Private or Public Company. Further, a private company is also required to file INC-6 in case of converting itself into an OPC.
What is the time limit to file INC-6?
Time limit for filing INC-6 is thirty days in case of voluntary conversion and Six months in case of mandatory conversion.
What if the Nominee of an OPC is now the member of the OPC and at the same time holds the position of the member in other OPC?
If a member of an OPC becomes the member of another OPC then within 180 days he will be required to fulfil the statutory eligibility criteria for becoming a member of only one OPC and will have to withdraw his membership from either OPC.
How to inform ROC about the change in Nominee?
File INC-4 with the ROC informing about the change in Nominee or withdrawal of consent by the Nominee.
Can I become a director in an OPC if I am in already in employment?
Yes, there is no such legal constraint in the Companies Act if not restricted by the employment agreement. All you need to do is check your employment agreement because it may limit you from becoming a director in other company simultaneously.
- Private Limited Company
- Appointment of auditor
- Statutory audit of accounts
- Filing of annual return
- Filing of financial statements
- Holding Annual General Meeting (AGM)
- Prepare directors’ report
- Filing of income tax return
- One Person Company
- Appointment of statutory auditor
- Holding Board Meetings (BM)
- Filing of financial statements
- Filing of annual return
- Limited Liability Partnership
- Filing of financial statements
- Filing of annual return
- Filing of income tax return
- Appointment of auditor
- Filing of LLP annual return
Can a business entity register on the residential address?
You don’t need a proper office to incorporate a business entity. You can register your residential address as a registered place of your business with MCA for which some address proof along with the NOC (No Objection Certificate) has to be filed with the prescribed form.
Can an NRI allow to incorporate a business entity in India?
NRIs only allowed to incorporate limited business entities in India including private limited company and limited liability partnership. Also, there is no requirement to obtain the prior approval from the government or RBI. But, in order to register a private company or an LLP at least one director/partner must be a resident of India. However, the private limited company is ideal for NRIs.
Which business entity is the most suitable for start-ups and why?
In order to execute the idea into a long-term business, choosing the right form of business is important. For start-ups, Private Limited Company is the best option for the following reasons:
- Limited legal compliances
- No minimum capital contribution
- Need only 2 directors and shareholders (both can be the same person)
- Funding can be raised
- Limited liability of the members
What is the minimum investment required to start a business entity in India?
As per the relevant Act, there is no minimum requirement for Paid-up Share capital or contribution to incorporate a private company, one person company or limited liability partnership. However, each shareholder/partner should subscribe to a minimum one share of Rs.10 face value.
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Location
Office No. T-4, S-521/522, 3rd Floor Moon House Building, Laxmi Nagar, Delhi, 110092
Contact Us
+91-7050056056
support@licitwink.in