One Person Company
A "One Person Company" (OPC) is a unique type of business structure where a single individual owns and operates the entire company.
A "One Person Company" (OPC) is a unique type of business structure where a single individual owns and operates the entire company.
Unlike traditional companies that require multiple shareholders or directors, an OPC is designed for solo entrepreneurs who want the benefits of a corporate entity but without the need for partners. This setup allows individuals to enjoy limited liability protection, where personal assets are safeguarded from business debts, while also maintaining full control over all business decisions.
It's a great option for those who want to start a business independently but still benefit from the legal and financial advantages of a formal company structure. Here you can add a nominee director. They can control the power after the death of the director. This concept was introduced under Companies Act, 2013.
Few things that you should know:
No opportunity to contribute ESO (Employee Stock Options)
If the average turnover is 2 crores or acquired a paid-up fund of 50 lakhs consecutively for 3 years then it must be converted to a private limited company within 6 months.
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Limited Liability Protection: The owner’s personal assets are protected from the company’s debts and liabilities. This means that if the business faces financial trouble, the owner’s personal property and savings are generally safe.
Complete Control: The sole shareholder and director of an OPC have full control over all business decisions. There’s no need to consult with partners or other directors, allowing for quick decision-making and streamlined management.
Separate Legal Entity: An OPC is a separate legal entity from its owner. This means the company has its own legal identity. This helps the business look more credible, and makes it easier to sign contracts, get loans, and work with other companies.
Simplified Compliance: OPCs have fewer rules and regulations compared to other types of companies. This makes running the business simpler and cheaper, which is great for solo entrepreneurs.
Easy Transition to a Private Limited Company: If the business grows and needs more shareholders or directors, an OPC can easily be changed into a Private Limited Company. This makes it simple to expand and adjust without starting over.
Minimum 1 shareholder/ director/ nominee
No minimum capital is required
The name of company should be unique
Director and Shareholder can be the same person
Aadhar, PAN, Passport of the director
Electricity or Gas bill (Latest)
Office address proof such as rental agreement
1. Obtain Digital Signature Certificates (DSC)
2. Apply for Director Identification Number (DIN)
3. Choose and Reserve Company Name (Should be Unique)
4. Draft the MOA and AOA and also File Incorporation Documents
5. Pay the Registration Fees and Obtain Certificate of Incorporation
6. Open a Bank Account on the Company Name
DSN (Digital Signature Certificate) and DIN (Director Identification Number) for 1 director.
Company Name Approval
AOA (Articles of Association) and MOA (Memorandum of Association)
Incorporation Certificate
PAN Number
TAN Number
Bank Account Opening Document Support (if required)
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A One Person Company (OPC) is a type of business structure where a single person owns and operates the company. It provides the benefits of a corporation, like limited liability, while allowing complete control to one individual.
Benefits include limited liability protection, complete control by the sole owner, a separate legal entity status, simplified compliance requirements, and the ability to easily convert to a Private Limited Company if needed.
There is no minimum capital requirement for setting up an OPC in India. The capital can be decided by the sole owner based on the needs of the business.
A nominee director is appointed to take over the responsibilities of the OPC in case the sole owner is incapacitated or unable to perform their duties in case of death or any circumstances. This ensures the continuity of the business.
An OPC is owned and controlled by a single person, while a Private Limited Company requires at least two directors. OPCs also have fewer compliance requirements compared to Private Limited Companies.
The nominee director appointed in the OPC will take over the management of the company. The nominee can either continue the business or transfer it to a new owner, depending on the situation and applicable laws.
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