{"id":2962,"date":"2018-07-16T10:37:22","date_gmt":"2018-07-16T10:37:22","guid":{"rendered":"https:\/\/companyregistrationonline.in\/?p=2962"},"modified":"2025-06-30T09:15:18","modified_gmt":"2025-06-30T09:15:18","slug":"one-person-company","status":"publish","type":"post","link":"https:\/\/companyregistrationonline.in\/blog\/one-person-company\/","title":{"rendered":"A Complete Guide to One Person Company (OPC)"},"content":{"rendered":"<p style=\"text-align: justify\">Companies Act, 2013 introduced the concept of One Person Company in India to promote self-employment and to motivate individuals who are capable of starting a business of their own. The need for two directors in a private limited company is eliminated which aids the entrepreneurs to have total control over their entity, and also enjoying limited liability. A nominee is required to be mentioned in the <strong><a href=\"https:\/\/companyregistrationonline.in\/blog\/importance-memorandum-association-moa-article-association-aoa-company-registration\/\">Memorandum &amp; Articles of Association<\/a><\/strong>, who will take over the responsibility of the company in case the original member is dead or incapable by any cause.<\/p>\n<h2 style=\"text-align: justify\"><strong>Pre-Registration Requirements<\/strong><\/h2>\n<ul style=\"text-align: justify\">\n<li>The person applying for <strong><a href=\"https:\/\/companyregistrationonline.in\/opc-registration\/\">OPC Registration<\/a><\/strong> should be a natural citizen and national of India not involved either as a member or nominee of any other such concern<\/li>\n<li>To start an OPC minimum authorized capital of Rs 1 lakh can be used while there is no specified minimum amount for paid-up capital<\/li>\n<li>\u00a0The maximum paid-up share capital cannot exceed Rs 50,000 and an average 3-year turnover\u00a0cannot exceed Rs 2 crore. If so happens, the OPC must be converted into a <strong><a href=\"https:\/\/companyregistrationonline.in\/blog\/private-limited-company\/\">private limited company<\/a><\/strong><\/li>\n<\/ul>\n<h3 style=\"text-align: justify\"><strong>Process of Incorporation<\/strong><\/h3>\n<p style=\"text-align: justify\">SPICe Form can be used to apply for\u00a0<strong><a href=\"https:\/\/www.legalraasta.com\/opc-registration\/\">One Person Company Registration<\/a><\/strong>. The procedure involves the following steps:<\/p>\n<ul style=\"text-align: justify\">\n<li>Obtain <strong><a href=\"https:\/\/companyregistrationonline.in\/blog\/requirement-digital-signature-in-company\/\">Digital Signature<\/a><\/strong> of Directors and subscribers<\/li>\n<li>Apply for <strong><a href=\"https:\/\/companyregistrationonline.in\/blog\/how-to-apply-for-director-identification-number\/\">DIN<\/a><\/strong> in Form DIR-3 with the prescribed documents<\/li>\n<li>After the <strong><a href=\"https:\/\/companyregistrationonline.in\/blog\/how-to-apply-for-director-identification-number\/\">DIN<\/a><\/strong> application, Form INC-1 with ROC for name application where you can apply for a maximum of 6 names as per the preference, out of which one would be allocated.<\/li>\n<li>After approval of the name following form is to be filed with prescribed documents:\n<ol>\n<li>SPICE Form 32<\/li>\n<li>SPICE Form 33 (e MOA)<\/li>\n<li>SPICE Form 34 (e AOA)<\/li>\n<\/ol>\n<\/li>\n<li>With the approval of the ROC, the Certificate of Incorporation under Form No.INC-11\u00a0 is to be issued by the Registrar of the Companies (ROC).<\/li>\n<\/ul>\n<h3 style=\"text-align: justify\"><strong>Advantages of One Person Company<\/strong><\/h3>\n<ul style=\"text-align: justify\">\n<li>\n<h4><strong>Limited Liability<\/strong><\/h4>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><a href=\"https:\/\/www.legalraasta.com\/opc-registration\/\">OPC registration<\/a> <\/strong>is an appealing option for any new businessman because the financial liability of a shareholder of any privately owned business is limited to the amount of investment made in the company by him\/her.<\/p>\n<ul style=\"text-align: justify\">\n<li>\n<h4><strong>Easy Funding<\/strong><\/h4>\n<\/li>\n<\/ul>\n<div class=\"wpb_text_column wpb_content_element \">\n<div class=\"wpb_wrapper\">\n<p style=\"text-align: justify\">It is convenient for the owner to approach other financial institutions other than banks because Banking and Financial Institutions give preference to companies over proprietary firms.<\/p>\n<ul style=\"text-align: justify\">\n<li>\n<h4><strong>Perpetual Succession<\/strong><\/h4>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\">Nominee gets control over the company if the original owner is not able to discharge his duties due to death and any other eventuality. Therefore, the investment won&#8217;t be wasted.<\/p>\n<ul style=\"text-align: justify\">\n<li>\n<h4><strong>Total Control<\/strong><\/h4>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\">One can experience complete authority over decision-making and implementation while the firm has been incorporated as a company.<\/p>\n<ul style=\"text-align: justify\">\n<li>\n<h4><strong>Less Compliance<\/strong><\/h4>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\">Compliance comparatively lesser than <strong><a href=\"https:\/\/www.legalraasta.com\/private-limited-company-registration\/\">Private Limited Company<\/a><\/strong> and there is no requirement for the <strong><a href=\"https:\/\/companyregistrationonline.in\/blog\/notice-annual-general-meeting\/\">Annual General Meeting<\/a><\/strong>, as the sole director can simply add the resolution in a minute book and sign it.<\/p>\n<h3 style=\"text-align: justify\"><strong>Compliances of a One Person Company<\/strong><\/h3>\n<ul style=\"text-align: justify\">\n<li><strong>Income Tax and Annual Return: <a href=\"https:\/\/www.legalraasta.com\/income-tax-return\/\">Income tax filing<\/a><\/strong> an annual return filing must be completed by all <strong>One Person Company<\/strong> before 30th September of each financial year.<\/li>\n<li><strong>GST Filing:<\/strong>\u00a0Under the GST regime proposed to be rolled out in 2017, one person companies having <strong><a href=\"https:\/\/www.legalraasta.com\/gst-registration\/\">GST registration<\/a><\/strong> would be required to file monthly, quarterly and annual GST returns.<\/li>\n<li><strong>TDS Filing:<\/strong>\u00a0Quarterly<strong> <a href=\"https:\/\/www.legalraasta.com\/tds-return\/\">TDS returns<\/a> <\/strong>must be filed by one person companies that have TAN and are required to deduct tax at source as per TDS rules.<\/li>\n<li><strong>ESI Return:<\/strong> ESI return must be filed by all one-person companies having<strong> <a href=\"https:\/\/www.legalraasta.com\/esi-registration\/\">ESI registration<\/a><\/strong>. ESI registration is required once the one person company employs over 10 employees.<\/li>\n<\/ul>\n<p style=\"text-align: justify\">It takes approximately 5 to 8 working days to<a href=\"https:\/\/companyregistrationonline.in\/opc-registration\/\"><strong> incorporate a One Person Company<\/strong><\/a> and it will depend on the submission of relevant documents and the speed of Government Approvals. To ensure the speedy process of incorporation it is recommended to choose a unique name for your Company and ensure you have all the required documents are provided before starting the <strong><a href=\"https:\/\/companyregistrationonline.in\/blog\/incorporate-one-person-company\/\">incorporation process<\/a><\/strong>.<\/p>\n<p>Register easily your One person Company with <strong>Company Registration Online<\/strong><\/p>\n<blockquote>\n<p class=\"entry-title fusion-post-title\" data-fontsize=\"30\" data-lineheight=\"37\"><a href=\"https:\/\/www.legalraasta.com\/blog\/llp-better-private-limited-company\/\">Why LLP is better than Private Limited Company<\/a><\/p>\n<\/blockquote>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Companies Act, 2013 introduced the concept of One Person Company in India to promote self-employment and to motivate individuals who are capable of starting a  [&#8230;]<\/p>\n","protected":false},"author":5,"featured_media":3058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[560],"tags":[92,93,394,15,396],"class_list":["post-2962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-one-person-company","tag-disadvantages-of-one-person-company","tag-one-person-company","tag-one-person-company-compliances","tag-opc","tag-opc-compliances-and-annual-filing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>One Person Company- A Complete Guide | OPC Incorporation<\/title>\n<meta name=\"description\" content=\"One Person Company was introduced in order to promote self-employment and to motivate individuals who are capable of starting a business.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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