Start One Person Company Registration
– Limitation of Liability
– Separate Legal Entity
– Perpetual Existence
– Single Owners: Best Option
– Less Procedural Compliances
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One Person Company
A one-person business is defined by Section 2(62), Companies Act as a company with only one member. The company’s members can be either its shareholders or the people who subscribe to the MOA.
An OPC is a company that has only one shareholder.
One Person Company registration is a concept that allows us to overcome the limitations in time, resources and media to obtain more partners to execute business plans. It also enables us promote micro-businesses and achieve our entrepreneurial dreams.
Minimum Requirements
- Minimum One Director
- Minimum of One Nominee
- No Minimum Capital required
- DSC of the Director
- The Director must be an Indian national
Chartered Choiceis a leading service provider for OPC registration. Chartered Choice has the largest clientele in India because of our cost-effective company registration services. This is what made us so popular. As everything is digitalized, you can access the services online. You don’t need to visit any of our offices or departments. We offer the best services for company registration.
Chartered Choice can help you if you have questions about OPC Company Registration in India.
Documents Required For One Person Company
Minimum One Directors
PAN Card
Identity Proof of Directors
Address Proof of Directors
Passport Size Photo
Business Address Proof (Owned/Rent/Leased)
FAQs of One Person Company Registration
Who can form a One Person Company?
The natural person is a citizen or resident of India.
Is eligible to incorporate a One Person Company?
Nominees for the only member of an One Person Company shall be nominated.
How many One Person Companies can one person form?
A person may only form one One Person Company.
What are the nomination requirements?
The subscriber of a Memorandum for an One Person Company will nominate a person who would become a member of that One Person Company if the subscriber were to die or be unable to contract.
What is the form of consent required from the nominee and can he/she withdraw it?
The nominee can withdraw his/her consent by giving written notice. However, the subscriber must nominate a new person within 15 days of receiving the withdrawal.
Can an subscriber change the nominee?
The subscriber or member may change the name of the person they have nominated at any time by sending a written notice along with the reason why the name has changed. If the case is related to death or an inability to contract, then the subscriber/member must nominate a new person following the prescribed procedures.
Can an OPC be transformed into a Private Limited Company (PLC) or Public Limited Company (PLC)?
It is possible to convert a One Person Company into a Private Limited Company or Public Limited Company. The One Person Company cannot convert into another type of company until 2 years from its date of incorporation has passed.
What are the circumstances in which a One Person Company is required to become a Private Limited Company (PLC) or Public Limited Company (PLC)?
OPC must convert into Private Company or Public Company within 6 months of the date of this Act. The company’s share capital is greater than 50 lakhs rupees. The last day of any period in which the average annual turnover is greater than 2 Crore Rupees.
Note: “Relevant period” means a period of 3 consecutive financial years immediately preceding.
Can a proprietorship be transformed into a One Person Company if the brand name has already been established?
A proprietorship can be transformed into a One Person business. The brand name can still be retained while the Ministry of Corporate Affairs registers the company.
If the One Person Company has a loss in the financial year, do they need to file a statutory return?
The annual compliances are mandatory to be performed even if no business transactions were made during the year. The Financial Statements must be filed at the Registrar of Companies in 180 days after the date of incorporation.
Can a One Person Company join another Private Limited Company?
There is no restriction on joining a Private Limited Company if you are a One Person Company.
What is the One Person Company?
One Person Company is a Private Limited Company. It can be formed either as a company with a capital share or as a Guarantee.
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