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One Person Company

One Person Company to be Incorporated under Companies Act, 2013

A) Introduction of One Person Companies

One Person Company means a company that has only one person as a member. The main reason for the OPC is to promote and support the developing entrepreneurs. OPC is considered as a private company.
Incorporation gives you a professional status and also Registering the Trademark of your company will help you to safeguard your identity and restrict others from using it.

B) Benefits of One Person Companies

Limited Liability

The liability of the company is limited.The personal assets of the members will not be used even for unpaid debts. If the company is facing financial crisis, only the profit earned, shareholding, and assets of the company will be used to pay back their loans.
Separate Legal Entity

OPC will be considered as a separate legal entity where the assets & liabilities of the business and directors are not same. Company will be considered to be a legal person and also holds the Right to Sue a third party incase of any dispute or default arises.
No Minimum Capital

No provisions regarding the minimum capital for registering a one person company but when it exceeds 50 lakhs in the course of buisness or if directors are interested they can convert into Private Limited Company.
Less Compliance Burden

In OPC, the burden of compliance is less. OPC will comply with provisions of Private Limited but comparatively it has many exemptions and privileges in it.

C). Documents required for Incorporation of One Person Company

ID Proof

Aadhar / Voter ID / Driving licence / Passport of Directors and Shareholders

Address Proof and Utility Bill

The Address proof of the Directors, shareholders along with the Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.

Photos

A photo Copy of the respective Directors and shareholders.

PAN

The PAN card of the respective Directors, shareholders and designated authorities of the company.

DSC

Digital signature is the electronic signature format of the Directors / signatory authority for the purpose of e-filing with the Register of Companies.

NOC (Owner/Landlord)

No objection certificate by the owner / landlord must be enclosed.

Documents Related to Nominee

The ID, written consent and documents in relation with the nominee must be enclosed.

DIN

Directors’ Director Identification Numbers (DINs)

MOA

Company’s Memorandum of Association (MoA)

AOA

Company’s Articles of Association (AoA)

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