One Person Company (OPC) a new company formation, upholds the advantages of sole proprietorship and the corporate state having one member, as the Director and a nominee. The concept of OPC Registration was started by the Companies Act, 2013 to give a boost to the entrepreneurs who have the capability of commencing their venture. They are applicable to create a single person company. The OPC Registration is mandatory for all entrepreneurs.

At least one nominee is required to start an OPC who can act as a shareholder as well as a director.

The least capital demand is Rs. 1 Lakh but this amount varies from your investment. Authorized capital and investment are not the same in OPC Company. You can invest as much as you want to but when you need to incorporate a company professionally, it has to be begun with Rs.1 Lakh as capital.

Any individual/organization can become a member of One person company including foreigners/NRI’s.

The entire procedure is 100% online and you don’t have to be present at our office or any other office for incorporation. A scanned copy of documents has to be sent via mail.

a) Compliances are low b) Simple to incorporate c) Fee and expenses are less d) Body corporate e) Limited liability

No, you are not permitted to form more than 1 OPC, and nominee in your company cannot be selected as the nominee in any other OPC company.

There is absolutely no other payment. We will send you an all-inclusive invoice, with no hidden charges.

The basic necessary compliance are:- • Keeping a proper book of accounts • Statutory Audit of Financial Statements • Filing of company income tax return all year before 30th September • Recording Annual ROC return which covers form MGT

No, FDI is not permitted for OPC Company formation, if it does then it will lose its real nature of OPC.

No there are no special tax advantages available for OPC. Tax is paid at the flat rate of 30% on profits.

Normally, at LegalRaasta the registration process takes 7 working days.

If the member dies, the nominee takes over the activities of the company and within 15 days, the company has to intimate the Registrar of Companies by registering Form INC-4 with the designated fee.

• At least 1 shareholder • At least 1 director. The director and shareholder can be the same person. • Minimum one nominee • Shareholder/nominee need to be a resident of India • Minimum Rs.1 lakh to be authorized share capitals. • DSC and DIN for director

A lot of people considering an OPC registration go with the private limited company structure because it is mandatory to convert an OPC to a private or public limited company if turnover is over Rs. 2 crores or paid-up capital is over 50 Lakhs.

Yes, It is necessary to modify its memorandum and articles by giving a resolution and to give impact to the conversion and to make significant changes incidental thereto.

You need to have a bank account with a minimum balance. This could be as little as Rs. 5000. You don’t need to invest any more capital to start the business.

OPC cannot be incorporated or transformed into Section 8 Company i.e. the company with charitable purposes etc. Also, cannot carry out any non-banking financial activities, including investment in securities of all body corporate.

If OPC or any officer of such company violates the provisions of Companies Rules 2014, they shall be punishable with a penalty which may reach to Rs.10,000. And if you ignore this penalty gets to extend to Rs.1,000 for every day along with Rs.10,000 and continues.

Every company at the first Annual general meeting selects an individual or a firm as an auditor who needs to hold the office from the conclusion of that meeting to the conclusion of its 6th annual general meeting.

1. An OPC limited by shares must comply with the following requirements: a. Must have a minimum paid-up share capital of INR 1 Lac. b. Shares will not be allowed to be transferred to anyone else. c. An OPC is prohibited from giving any invitations to the public to subscribe to the securities of the company.2. When an OPC limited by shares or by guarantee enters into a contract with the sole member of the company, who is also the director of the company, the terms of contract or offer must be recorded in writing or contained in a memorandum or recorded in the minutes of the Board meeting held next after entering into the contract. 3. An OPC must inform the Registrar about every contract entered into by the company with the sole member of the company within fifteen days from the date of approval.