One Person Company
A One Person Company (OPC) is a unique business structure that allows a sole proprietor to operate as a corporation while enjoying limited liability protection. Introduced under the Companies Act, 2013, the OPC was designed as an improvement over the sole proprietorship model, giving a single promoter full control of the company while limiting their liability to the extent of their investment. The individual serves as both the sole shareholder and director. A nominee director is also appointed, but they only assume authority if the original director is unable to fulfill their duties. If the OPC’s average annual turnover exceeds ₹2 crore or its paid-up capital crosses ₹50 lakh over three consecutive years, it must be converted into a private or public limited company within six months.
Eligibility to form OPC:
- Please note that the following information is subject to change without prior notice. A nominee member is an individual designated to take over the company in the event of the promoter’s death or incapacitation.
To incorporate a One Person Company (OPC) or act as a nominee, the individual must be a natural person who is an Indian citizen and a resident of India. Additionally, both the director and the nominee must be at least 18 years of age. A single person is allowed to incorporate up to five One Person Companies.
Supporting Your On-Going Business:
We handle the filing of your TDS, GST, and income tax returns, ensuring timely and accurate compliance.
We maintain your accounts and provide monthly progress reports to keep you informed of your financial status.
Documents Required For Partnership Firm Registration:
Identity Proof of director and nominee director:
Self-attested scanned copies of the PAN cards of both the nominee and the director are required. Please note that foreign residents and NRIs are not eligible to form a One Person Company (OPC).
Address Proof of partners (Any One):
- Passport
- Driving license
- Aadhaar card
- Bank statement (less than 2 months old)
Registered Office Address Proof:
Rental agreement or sale/registration deed (if the property is owned)
No objection certificate (NOC) from the landlord to use the premises as a registered office
A recent utility bill (electricity or water)
Or a property tax receipt (for rented offices)
The fundamental requirements for compliance are:
- Keeping accurate books of accounts
Conducting statutory audits of financial statements
Filing annual ROC returns, including Form MGT-7
Maintaining proper financial records and compliance documentation
What You Have Now:
- DIN for one director.
- Digital signature token for director and nominee.
- MoA & AoA (Memorandum of Association & Articles of Association),
- Incorporation Certificate from MCA with CIN (Corporate Identity Number),
- Company PAN card,
- Company TAN number,
- and all supporting documents for opening a bank account.
We Can Support Your Business Startup:
- We can file your TDS & GST returns,
- keep track of your accounts, and provide you with periodic progress reports at the end of each month. We can also compile and submit your income tax returns.
