Register a one person company registration online in India within 7 – 10 days. Get expert help from Online Legal India in OPC registration.
With the introduction of the Companies Act, 2013 the concept of the One Person Company came into existence to motivate the small traders and entrepreneurs who has the potentiality to start their own business and build up their own identity. The biggest advantages of starting a One Person Company are that only one person is required to start the business. An entrepreneur can be the master of their own domain in case of One Person Company (OPC). Wherein in case of Private Limited Company or LLP, minimum of two members is needed to be incorporated.
One Person Company was introduced in the J.J Report to create empowerment for the entrepreneurs where they can give a shape to their ideas. As there is a progress in the use of information technology and growth in the service sector in India, government has launched the concept of OPC.
Before Registering Your Company Directly under Govt. of India
Two Colour Photographs of Promoters/Individuals/Company/ Director
PAN Card of each Shareholders and directors
Identity Proof (Voter ID / Driving License/ Passport)
Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill)
Proof of Registered Office
Utility Bill as proof must be Latest
Criteria | Private Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Proprietorship Firm |
---|---|---|---|---|---|
Act | Companies Act, 2013 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Indian Partnership Act, 1932 | No specified Act |
Registration Requirement | Mandatory | Mandatory | Mandatory | Optional | No |
Number of members | 2 – 200 | Only 1 | 2 – Unlimited | 2 – 50 | Only 1 |
Separate Legal Entity | Yes | Yes | Yes | No | No |
Liability Protection | Limited | Limited | Limited | Unlimited | Unlimited |
Statutory Audit | Mandatory | Mandatory | Dependent | Not mandatory | Not mandatory |
Ownership Transferability | Yes | No | Yes | No | No |
Uninterrupted Existence | Yes | Yes | Yes | No | No |
Foreign Participation | Allowed | Not Allowed | Allowed | Not Allowed | Not Allowed |
Tax Rates | Moderate | Moderate | High | High | Low |
Statutory Compliance | High | Moderate | Moderate | Less | Less |
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The director’s personal property is forever safe, no matter the debts of the business. In OPC, only the investment in the company is lost; personal assets of the directors are protected.
An OPC has a separate legal identity. It would pass on to the nominee director, ensuring continued existence.
An OPC is required to have its books audited yearly, which builds credibility with vendors and lending institutions.
An OPC company is simple to sell due to limited documentation requirements.
This structure allows fast decision-making and execution. OPC can also appoint up to 15 directors for official functions without giving them any ownership.
OPC is one of the easiest corporate entities to operate. Very few ROC filings are needed to be registered with the Registrar of Companies.