One Person Company Registration in India
This is Ideal if your business is Small & managed by one person.
- One person company is managed by single person.
- Less compliance with ROC and minimum fees.
- Eligible to apply for Startup India Recognition and Tax exemption.
What is One Person Company?
One Person Company (OPC) is a company incorporated by a single person. As per Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. It is a form of a company where the compliance requirements are lesser than that of a private company.
The Companies Act, 2013 provides that an individual can form a company with one single member and one director. The director and member can be the same person. Thus, one person company means one individual who may be a resident or NRI can incorporate his/her business that has the features of a company and the benefits of a sole proprietorship.
A Single person can from a Private limited Company with One Nominee.
One Person Company (OPC) is also treated as a Private limited company and Eligible to apply for Startup India Registration.
Details of One Person Company (OPC)
- Single Shareholder and Director can be same person.
- 1 Nominee is mandatory (Resident Indian)
- Eligible to apply for Startup India Registration.
- Annual ROC Filing Mandatory
- Annual Statutory Audit compulsory by practicing CA.
- Income TAX rate @22% on net profit
What all Documents require for Public Ltd Company?
- Photograph of all proposed Shareholder & Director.
- PAN card copy
- ID Proof – Driving licenses / Voter ID / Passport (anyone)
- Address proof – Bank statement / Telephone or Mobile or Electricity Bill (not more than 30 days old)
- Email ID and Mobile Numbers
- Proposed Company Registered office address proof – Telephone or mobile or electricity bill (not more than 30 days old) + NOC from property owner
- DIN of Owner
- Aadhar card (optional)
After Company incorporation, you will receive below documents
- Company Certificate of Incorporation
- Memorandum of Association & Article of Association (MOA & AOA)
- EPF & ESI Registration
- PAN Card and TAN Allotment
- Directors Identification Number (DIN)
- Digital Signatures (Class 2)
- Assist in Bank A/c Opening
- GST Registration (Optional)
- Professional Tax Registration (in Maharashtra Only)