One Person Company Registration

One Person Company Registration

A new concept has been introduced in the Company Act 2013. According to Section 62, One Person Company (OPC) simply specifies that all type of business which has only one person as a member or shareholder like -incorporated as a private limited company.

IT means, any normal person who is an Indian citizen whether a resident in India shall be eligible to incorporate a One Person Company (OPC) and also appoint a nominee of a company. OPCs are mostly formed when the business has only one founder.

Documents Required for OPC Registration

• Copy of Aadhar Card
• Copy of Pan Card
• Address Proof (Electricity Bill/Rent Agreement)
• Photograph
• Copy of the Property papers or the ownership proof (In the case of an owned property)
• No-Objection Certificate from the actual owner

Benefits of OPC Registration 

• Limited Liability
• No legal Dispute
• No Minimum Capital Requirement
• Continuous Existence
• Separate Legal Entity
• In condition of death/disability of founder, company can be succeed by nominee.

Frequently Asked Questions 

Q. How much time does it take to register a One Person Company?

Ans. The registration of a One Person Company can take around 7 to 10 days. 

Q. What are the Capital Required to starting a One Person company?

Ans. Company has to pay authorized government fee for minimum of Rs.1 lakh capital to register a One Person Company.

Q. What is Director Identification Number (DIN)? 

Ans. Director Identification Number (DIN) is a unique identification number assigned by government to all existing Directors of a Company. Director Identification Number is compulsory for all Directors. 

Q. Can we convert One Person Company into Private Limited Company?

Ans. A One Person Company can easily be converted into Private Limited Company, the process will be same. But in Private Limited Company minimum two directors required.

Q. Who can nominee in One Person Company?

Ans. In condition of death or disability of the owner of the One Person Company shall assume his position. A nominee can be any person.