One Person Company Registration

Get your One Person Company registration in 15 days

Rs.4999/- Only

Govt.Fees + Taxes Extra

Features

  • Set up of Single Owner/Shareholder business in a corporate format
  • Suitable for sole proprietors
  • Instant corporate image for single owner businesses
  • Less compliance and continuous existence unlike sole proprietorships
  • Easy Compliance management from Taxoutlook

What's Included

  • Preliminary consulting on Business setup
  • Name approval and Company Registration
  • Drafting of MOA and AOA
  • DIN and Digital signature Certificate for One Member
  • PAN and TAN
  • GST registration

Get Started

Your One Person Company With Tax Out Look

Registering a Company is quick, easy, and can be done online with Tax Out Look in 3 simple steps:

With Taxoutlook ,you are ready to takeoff in jus 3 steps

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We help you register your directors with the Ministry of Corporate Affairs (MCA).

Step 1

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We help you pick the right company name.

Step 2

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We draft and file the documents required for your company registration (MoA and AoA).

Step 3

Overview Key Note Inclusions Documents Process The Glossary FAQs

Online One Person Company (OPC) Registration in India

A One Person Company (OPC) is corporatized format of Sole proprietorship business. Similar to Sole proprietorship, OPC has one member (Shareholder) and a Director. The member has to appoint a nominee who will replace the member in the event of death, incapacity of the said member. This format is suitable for single owners who want to maintain their control and at the same time want to enjoy limited liability and business continuity features of a private limited company.

The advantage of an OPC is that it redefines the way of doing sole proprietorship business by providing some of the benefits of Private limited company to OPC like limited liability for the members, Business credibility and Perpetual existence. Also, it takes only 10-15 days to register One Person company and the entire registration process is online based.

One Person Company :

As per Section 2(62) of the Companies Act, 2013, One Person Company means a company which has only one member.

Some of the key characteristics of a private limited company are as below

1. Limited Liability

The shareholders personal assets are not liable for company’s default. The liability of shareholders is limited to the extent of uncalled capital only.

2. Shareholders/Members

Shareholders are the owners of the company. Only one members is allowed for a one person company. A person can be a member in only one OPC.

3. Directors

Directors are appointed by the shareholders to govern the affairs of the company. Minimum directors requires is 2 and maximum allowed is 15. At least one Director should be an Indian citizen.

4. Nominee in a OPC

An OPC must mention One nominee as nominee in the event of death, incapacity of member. The nominee can withdraw his consent to the member any time. In case, the nominee withdraws his consent, the member has to appoint another nominee in place of the retiring nominee.

5. Share capital

There is no requirement for Minimum share capital. However, as in any business startup, it is recommended to update a minimum share capital. There is no fixed amount and the minimum share capital is shareholder’s choice.

6. Conversion to Private or Public limited company

A One Person Company may be converted to a private or public limited company by increasing the number of members and directors as and when necessary. Conversion can be done any time and the entire process is simple.

Benefits of One Person Company Registration in India

1. Separate Legal Entity

One Person company is a separate legal entity distinct from the members/shareholders of the company. It is an artificial juridical person capable of entering in to contracts and conduct business in its own name.

2. Perpetual Existence

One Person company has perpetual existence .i.e. lifelong existence. It is separate legal entity distinct from shareholders and directors. Any death, retirement of the single shareholder, directors does not affect the continuity of OPC. The nominee of the Single shareholder becomes the new member in the case of death, incapacity of the single shareholder.

3. Limited Liability

The liability of the single shareholder/Member of the One Person Company are limited to their shares only. In the event of any financial default, the shareholder’s personal assets are not liable.

4. Business Credibility and Brand Value

Being registered as an OPC enhance the brand image unlike sole proprietorship which boosts the confidence in the eyes of Suppliers, Customer, financial institutions.

5. Minimum Compliance

One Person company enjoys minimum compliance filings compared to a Private Limited Company. An OPC is not required to hold an AGM. Minimum of One board meeting required to be conducted in 1st half of the calendar year. Financial statements to be signed by only one director for submission to Auditor and the same need to be filed within 180 days from the end of the financial year.

What you get

  • Preliminary consulting on One Person Company registration in India
  • Name Search and Approval
  • Drafting of MOA
  • DIN ( Director Identification Number) for 1 Directors
  • DSC ( Digital Signature Certificate) for 1 members
  • PAN and TAN
  • GST registration
  • Certificate of Incorporation and Share Certificates
  • Add on Services at extra cost ( optional)
  • Additional DIN’s and DSC’s can be availed at extra cost

Documents Checklist

1. KYC of the Members /proposed Directors

  • Proof of Identity – PAN , Passport ,Voter ID or Driving license
  • Proof of Address – Utility bills (Telephone, Mobile, electricity) or Bank Statement (latest 3 months statement with address)

2. Proof of Address of Registered office

  • In case of Rented – Notarized Rental agreement and Utility bills( Electricity, property tax, water, Gas bill)
  • In case of Own Premises- Proof of Ownership like sale deed

3. No Objection Certificate (NOC) from landlord or owner of the premises for using the said premises as Registered office of the Company

4. Registered Office – Please note that registered office of the Company need not be a commercial property. It may be a residential property as well.

Note 1: All Documents need to be self-attested by the Members/Proposed directors respectively and need to be scanned clearly and legibly.

Company Registration Process

Our compliance expert will be in touch with for the documents. Once you share these documents, we will complete the below process.

  • Apply for DSC (Digital Signature Certificate).
  • Apply for DIN (Director Identification Number) for the proposed Directors.
  • Name Approval- You have to give us two names in the order of priority. The proposed names should not infringe on any trademark and should be unique and within the MCA guidelines.
  • Drafting and Submission of MOA and AOA.
  • Registrar of Companies (RoC) issues Certificate of Incorporation.

You don’t have to worry about the above process as our Compliance experts will help you in getting the company registration smoothly, quickly and hassle-free.

Glossary of Terms

Share

A share represents a unit of the ownership in a company. In other words, if you are a shareholder of a company, you hold a percentage of ownership of the said company in proportion to share you have subscribed or bought.

Shareholders/Members

Every person holding a share certificate is called a shareholder/member of the company. Only a natural person can become member in an OPC. An Individual cannot become a member in more than 1 OPC. Simply Put, a member can register only one OPC.

Nominee

The name of another person proposed by the Shareholder to act as “nominee” in the event of death, incapacity of shareholder. Consent from the nominee is must for acting as “Nominee”. An individual cannot be a nominee for more than 1 OPC.

Memorandum of Association

Memorandum of Association is the Charter/Constitution of the company. It defines the objects of the company both primary objects and incidental objects for which the company is formed. It also includes details related to Capital, Name, Registered office, Authorised capital, Liability clause. The shareholders approve and sign the MOA on Incorporation which is called subscribing to MOA.

Articles of Association

Articles of Association are bye laws of the company that govern the internal management and conduct of the business of the company. AOA is part of the MOA and is governed by the MOA of the company. It regulates the relationship between the company and its shareholders, as well as between the shareholders itself.

Share capital

Share capital refers to the amount invested in the company for carrying its stated operations.

Authorised Share capital

It is the Maximum amount of capital for which shares can be issued to its shareholders. It is mentioned in the MOA under Capital clause.

Paid-up capital

It is the actual amount of Shares issued to its shareholders and the money has been received from the shareholders. Paid up share capital is the subset of Authorised capital

Director Identification Number

A DIN is a unique identification number allotted to an Individual who is appointed as Director of a company.

Company Identification number

A Company Identification number (CIN) is a 21 digit alphanumeric unique number assigned by the Registrar of Companies (ROC) for every company registered in India. Every company has to mandatorily mention the CIN in their business correspondences and official publications.

Digital Signature Certificate

Digital Signing Certificates (DSC) are the digital equivalent to physical identification certificates such as driver license, passport or membership card. Just like the physical certificates serve as proof of identity of an individual for a certain purpose .A digital certificate can be presented electronically to prove one′s identity and sign certain documents digitally.

Share Certificate

Share certificate is issued by the Company on allotment of shares. It evidences the title of the person to such shares. It has to be issued within 2 months from the date of incorporation.

FAQs on One Person Company Registration in just 7 Days

The general time taken to complete the registration process and get the Incorporation certificate is around 10-15 days on receipt of all documents. This is subject to time taken by ROC to process the applications.

One person company is suitable for single owner business who want to maintain their control and does not want to dilute ownership, yet at the same time enjoy the benefits of Limited Liability and business continuity features of a private limited company. Our Taxoutlook experts will assist you choosing the right model for your business.

The member should be a Natural person who is a citizen of India. Foreign citizens cannot register a One person Company. The minimum and maximum number of member in an OPC shall be only One member.

Yes. NRI can also register an OPC. All the KYC documents are to be attested by Indian embassy or notary public. “Resident in India” means a person who has stayed in India for a period of not less than one hundred and twenty days during the immediately preceding financial year.

Minimum 1 Directors and maximum 15 directors can be appointed in a One Person Company. Also, shareholders can be directors or a different person can also be appointed as directors of the company.

Any person of 18 Years age and holding a Director Identification Number (DIN) can become a Director.

Yes. DIN (Director Identification number) is must for Private limited company. If the person to be appointed as Director does not have DIN, the same has to be applied at the time filing incorporation forms.

You have to file Commencement of business declaration post incorporation within 180 days. Immediately after filing this form, you cans start the business.

All private limited companies have to file commencement of business declaration that the shareholders have paid the value of the shares subscribed and also, proof of registered office has to be submitted.

Name board and Letter head

The company shall mention the CIN ( Corporate Identification Number ), Reg. office details , Phone numbers, website and e-mail details in all its corporate communications and correspondences.

Appointment of Auditor

The company must appoint the auditor, a chartered accountant in practice within 30 days of incorporation

Issue of Share Certificates

The company must issue share certificates to all its shareholders within 2 months from the date of incorporation

Yes. Taxoutlook provides end to end Incorporation, accounting and audit, GST, Income tax filing services so that you don’t have to worry about the ticking all the compliances.

Testimonials

Why Customers Choose us

One-Stop Solution

From Registering your business to Managing your compliances , You get all the required support in one place.

Your Advisor

We PARTNER with clients and provide continued support for your compliance needs with our dedicated in-house experts.

Accurate and Reliable

We ensure 100% accurate filings. This is made possible through our second level in-house audit team.

Customised

Every Client and work is different. We understand this perfectly, and therefore we follow a fit to purpose approach.

Trusted Partner

Trust is our strength and with every client placing faith on us. We scale even greater heights together.

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