Query!! Contact us Now.

Simple Process

Choose a Service You Require

Fill Up The Enquiry Form

We Will Mail Document List

Our Executive will Call You

Will Submit Application

Obtain certificate

One Person Company (OPC)

An OPC has its roots in the Companies Act 2013. Unlike a private or public limited company, an OPC does not require multiple members for formation. As the name suggests it can be formed by a sole member.

However not all can opt for this form of organization. OPC can be formed only if the paid up capital is less than fifty lakhs or the turnover is less than two crores during a financial year.

Only an Indian can be the member of OPC. A foreign citizen or non-resident cannot form an OPC. It enjoys same benefits as any private or public limited company but has lesser compliances than them. Once an OPC is incorporated, it cannot be voluntarily converted to a private limited company within two years from its incorporation. However, the two year criterion is not applicable if it crosses the capital/turnover threshold.

Benefits of One Person Company (OPC)

  • Number of exemptions from compliances granted
  • Only one member can incorporate OPC
  • Enjoys same benefits as a private limited company
  • Exposure to proprietors to get benefits of corporates – Limited liability benefit

Requirement post One Person Company Incorporation

  • PAN and TAN application
  • Bank Account
  • Business specific licensing and registration – FSSAI, RERA, GST, PT etc.
  • Maintaining proper books of accounts
  • Statutory audit annually
  • Filing of income tax return annually
  • Annual filing with ROC

Documents needed to incorporate Person Company Company

  • PAN of the member
  • Address proof of Member – Aadhar Card, driving license, passport, voter id card, latest utility bill etc.
  • PAN of the nominee
  • Address proof of Nominee – Aadhar Card, driving license, passport, voter id card, latest utility bill etc.
  • Written consent of nominee
Registered office proof of Company (as follows)

In case place is owned by the Member - Latest utility bill clearly showing name of member and NOC from member allowing to use the place for running the business

In case place is rented-Rent agreement, latest utility bill clearly showing name of owner and NOC from owner allowing to use the place for running the business

© 2018 Business Escalators. All rights reserved | Powered by Creador Designs.