Register your one-person company with ease!
Sign up with Saral Bharat and get your OPC registered in 3 simple steps.
Incorporate your OPC today!
It's simple and hassle-free
Sign up with Saral Bharat and get your OPC registered in 3 simple steps.
It's simple and hassle-free
At Saral Bharat, we help you register your OPC through a 100% online process!
The government has introduced the one-person company in the year 2013 in the company act 2013. One-person company registration is a type of registration that can be done with just one owner who can function as a director and a shareholder. In OPC, there can be more than one director, but there can't is more than one shareholder. This type of business is registered under the guidelines and compliance of the Ministry of Corporate Affairs.
However, a one-person company must be converted into a private limited company if it crosses an annual turnover of 2 crores.
The process of registering an OPC in India is pretty simple. Your company is registered within seven days of application, keeping in mind that all the documents are appropriately placed.
Even though the OPC comes under the private limited company act 2013, under section 2(68), the compliance and burdens are much less than a private limited company.
An OPC brings the unorganized section of a proprietorship under the organized version. It is open to a large number of banking and loan facilities.
In a one-person company, the director and shareholder can be the same person. There is no minimum capital requirement, and there can be a single nominee.
One of the significant advantages of an OPC over proprietorship is its limited liability. In case of any unfortunate events, any personal assets of the owner or the stakeholders are not at risk.
The control and decision-making are in a single hand, leading to faster decisions and execution of ideas and strategies.
An OPC will continue to exist even if the owner resigns from power or ceases to exist. The company will not be dissolved unless done on purpose.
The legal audits are carried out annually and its credibility of the business.
Just like any other business, OPC registration also requires specific documentation. Here is what you will need to register an OPC company in India. The director of the company must attest to the documents.
*Please note it's not mandatory to have a commercial property. You can register at a residential address as well.
For registering an OPC, the incorporation process requires a minimum of one nominee in the company MOA. This person will have the authority to undertake the business in the event of death or the owner's incapacity. The nominee will, however, have the power to withdraw his/her name if required.
Here is what you need to know before selecting a nominee:
A person must consent before you nominate their name. The nominee needs to sign the permission along with the registrar in the form INC 4.
The nominee will, however, have the power to withdraw his/her name if required. A written notice must be sent to the company for doing so. The new nominee must follow the same consent process, as mentioned above.
On the occasion of the previous owner's death or retirement, the new nominee can take the owner's position as agreed upon. However, he/she has to appoint a new nominee in the process who can carry forward the business later on.
In case the necessary guidelines are not followed, the owner will be liable to a fine or penalty up to INR 10,000.
An OPC registration has no expiration date. As long as the annual compliances are correctly met, the company will continue to exist.
There is no hard and fast rule for registering an OPC. However, to be eligible for registering an OPC, you will have to be at least 18 years old and have Indian nationality.
Yes, you can register your business at a residential address. You must have the correct documents for the property. In case it's a rented property, you will need a NOC from the owner.
You will receive your DSC, DIN, PAN, TAN, Name Approval Certificate, GST Registration, PF Registration, and ESI Registration when you register your OPC company through Saral Bharat.
The cost of registering OPC will be INR 7499. However, in case you need any add on registration, that will be charged separately.
It usually takes 7-10 business days to register an OPC. But any discrepancy in documentation can delay the process. So make sure you submit all documents correctly.
An OPC registration holds a lot of added advantages over proprietorship. You will have a lot of bank facilities and limited liabilities. In other words, it's a win-win for you and your business.
There is no minimum capital requirement to start an OPC. But if your turnover goes over two crores over time, you will have to convert it to a private limited company.
No. As an individual, you can have only one OPC registered under your name.
