One Person Company 

What is One Person Company (OPC) Registration in India?

Introduction to One Person Company:

A One Person Company (OPC) is a type of business structure introduced in the Companies Act, 2013, which allows a single individual to establish and operate a corporate entity with limited liability. It combines the benefits of a sole proprietorship and a company, providing the advantages of limited liability while allowing for a single ownership structure.

Advantages:

• Limited Liability: Similar to companies, the liability of the owner is limited to the extent of the capital invested in the company.
• Separate Legal Entity: OPC has a distinct legal identity separate from its owner, providing credibility and legal protection.
• Perpetual Succession: OPC continues to exist irrespective of changes in the ownership or death of the sole proprietor.
• Ease of Compliance: OPCs have relatively simpler compliance requirements compared to other corporate entities.

Disadvantages:

• Limited Capital Infusion: Similar to LLPs, OPCs have limitations in raising capital, as they cannot issue shares to the public.
• Nominee Requirement: The owner must nominate a nominee who will take over the business in case of the owner’s death or incapacity.

Eligibility Criteria:

• Individual: Only a natural person and resident in India can form an OPC.
• Nominee: A nominee must be appointed by the sole member of the OPC.
• No Other OPC: An individual cannot incorporate more than one OPC.

Required Documents:

• Identity and Address Proof: PAN card, Aadhar card, passport, or driver’s license of the sole member and nominee.
• Passport-sized Photographs: Recent photographs of the sole member and nominee.
• Proof of Registered Office: Documents like utility bills, rent agreement, or property tax receipt.
• Consent of the Nominee: Form INC-3 with the nominee’s consent to act as a nominee.

Registration of One Person Company in India:

• Digital Signature Certificate (DSC): Obtain a DSC for the sole member.
• Director Identification Number (DIN): Apply for DIN for the sole member.
• Name Reservation: Apply for the availability and reservation of a unique name for the OPC.
• Incorporation Application: File the incorporation application (INC-32) along with the required documents.
• Certificate of Incorporation: Upon approval, the Registrar of Companies issues a Certificate of Incorporation.

Register Your One Person Company through Consult Chartereds :

To register a One Person Company through Consult Chartereds , individuals can avail their business registration services. Consult Chartereds  may assist in the entire process, ensuring compliance with regulations and providing support in obtaining necessary documents. For specific details on the services offered by Consult Chartereds , it is recommended to directly contact them.