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One Person Company Registration

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What is One Person Company (OPC)?

The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. One of the biggest advantages of a One Person Company (OPC) is that there can be only one member in an OPC, while a minimum of two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP).

Pay as you Grow !

Income tax return filing for an individual with salary income of less than 5 lakhs.
Rs. 6999 /- Inclusive of all charges
Income tax return filing for an individual with salary income of less than 5 lakhs.
Rs. 9999 /- Inclusive of all charges
Income tax return filing for an individual with salary income of less than 5 lakhs.
Rs. 14999 /- Inclusive of all charges

Till the introduction of One Person Company in India, the Limited Liability and Continuous Existence feature was only available to an association of persons such as a Private Limited Company or Limited Liability Partnership or a Limited Company. With the introduction of One Person Company, the limited liability and continuous existence feature is now also available for One Person Company, which is an entity with just one member

As One Person Company has just one member, it is necessitated by the law for the single member of the Company to designate another person in the Memorandum of Association, who on the event of subscriber’s death or incapacity shall become the person to contract.

This mechanism provides an adequate safeguard to ensure continuous existence of the entity even in case of incapacitation of the single member.

  • Seven or more persons, in case of a public limited company.
  • Resident in India means a person who had resided in India for a period not lesser than 182 days in the prior calendar year.
  • One person, in case of a one-person company.

  • Only a natural person who is Indian Citizen and resident in India can incorporate OPC.
  • Resident in India means a person who had resided in India for a period not lesser than 182 days in the prior calendar year.
  • Legal entities like Company or LLP cannot incorporate a OPC.
  • The minimum authorised capital is Rs 1,00,000.
  • A nominee must be appointed by the promoter during incorporation.
  • Businesses involved in financial activities cannot be incorporated as a OPC.

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  • Can an NRI Register a One Person Company in India? If Yes, then what are the conditions for the same?
    • It generally takes 30 business days to incorporate a Producer Company.
  • What Rates of Taxation are applied on OPCs in India?
    • Since the concept of a one person company has recently been introduced by the new Indian Companies Act of 2013, at present, there are no specific taxation laws available for OPCs in India, and therefore, these OPCs are put in the same bracket of taxation as the private limited companies.
  • How to Convert an OPC into a Pvt. Ltd Company or a Public Ltd Company in India?
    • Both in the cases of the voluntary conversion and the mandatory conversion, the concerned OPC is strictly required to follow the rules, provisions, and regulations provided in the Companies Act of 2013 under its Section 18, and in the Rule 7(4) of the Companies (Incorporation) Rules of 2014. Roughly, in addition to meeting the statutory requirements of the desired form of company, the OPC has to make certain necessary changes in its MOA and AOA to suit the targeted type of company. Here it should be noted that, for conversion into a private limited company, the interested OPC is required to have at least two directors and two shareholders. On the other hand, for conversion into a public limited company, the OPC needs to have at least seven shareholders and three directors. For voluntary or mandatory conversion of an OPC into a private limited company or a public limited company, the Application Form used will be Form INC-6.
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