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To incorporate an OPC, an individual must meet the following criteria:
Fill the form or Chat with one of our executive to get all the details.
Submit all necessary documents required for company registration.
Get your work done in in 10-15 working days
/Including Govt. Fees
/Including Govt. Fees
/Including Govt. Fees
A One Person Company (OPC) is defined under the Companies Act, 2013, as a company that has only one person as its member and director, who is also the sole shareholder. It provides a simplified and efficient form of business structure for small entrepreneurs and startups. A One Person Company (OPC) is a type of company structure introduced in India to enable single entrepreneurs to operate as a separate legal entity, with limited liability. It allows a single person to form and run a company, enjoying the benefits of a corporate entity.
Eligibility criteria include:
- The individual must be a resident of India.
- The individual must not be a minor.
- A person can be a nominee director in only one OPC at any given time.
- An individual cannot incorporate more than one OPC or become nominee director in more than one OPC simultaneously.
Advantages include:
- Limited liability protection for the sole shareholder.
- Separate legal entity status, distinct from the owner.
- Single-person ownership and management.
- Simplified compliance requirements compared to other company structures.
- Ability to access funding, contracts, and business opportunities on par with other companies.
The process includes:
- Obtaining Digital Signature Certificates (DSCs) for the proposed director(s).
- Applying for Director Identification Numbers (DINs) for the proposed director(s).
- Choosing a unique name and obtaining approval from the ROC.
- Preparing and filing the incorporation documents, including the Memorandum of Association (MOA) and Articles of Association (AOA).
- Paying the prescribed registration fees and submitting the documents to the ROC.
Required documents include:
- Identity and address proofs of the proposed director/shareholder.
- Proof of registered office address (e.g., rental agreement, utility bill).
- Memorandum of Association (MOA) and Articles of Association (AOA) signed by the subscriber(s).
- Consent forms from the proposed director/shareholder.
Yes, as per the Companies Act, 2013, every OPC must have a nominee director appointed by the sole member. The nominee director's role is to take over the management and ownership of the OPC in case the sole member becomes incapacitated or passes away.
Yes, an OPC can be converted into a Private Limited Company, Limited Liability Partnership (LLP), or any other type of company as per the provisions of the Companies Act, 2013. The conversion process involves filing an application with the ROC and complying with the necessary requirements and formalities.
Annual compliance requirements include:
- Filing of annual returns (Form MGT-7) within 60 days of the Annual General Meeting (AGM).
- Filing of financial statements (Form AOC-4) within 30 days of the AGM.
- Holding of at least one board meeting in each half of the calendar year, with a gap of not more than 120 days between two meetings.
- Compliance with tax laws, including payment of taxes and filing of tax returns.
Yes, Avenue Advisory offers comprehensive assistance for annual compliance, ensuring timely preparation and filing of required documents, adherence to regulatory deadlines, and expert guidance on compliance matters.
Non-compliance with annual filing requirements may lead to penalties, fines, legal actions, disqualification of directors, and loss of reputation for the OPC. It is crucial for OPCs to ensure timely and accurate compliance with all regulatory obligations to avoid adverse consequences and maintain good standing with the authorities.
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