One Person Company Registration | Pooja Jagdish & Associates

WHAT IS One Person Company (OPC)?

One person company is a new concept in India which has been introduced by the companies Act,2013

Features of one person company

1. Only One Shareholder: Only a natural person, who is an Indian citizen and resident in India shall be eligible to incorporate a One Person Company. Explanation: The term “Resident in India” means a person who has stayed in India for a period of not less than 182 days during the immediately preceding one calendar year.
2. Nominee for the Shareholder: The Shareholder shall nominate another person who shall become the shareholders in case of death/incapacity of the original shareholder. Such nominee shall give his/her consent and such consent for being appointed as the Nominee for the sole Shareholder. Only a natural person, who is an Indian citizen and resident in India shall be a nominee for the sole member of a One Person Company.
3. Director: Must have a minimum of One Director, the Sole Shareholder can himself be the Sole Director. The Company may have a maximum number of 15 directors.

For the purpose of registering a One Person Company (OPC), there must be Minimum share capital of Rs.1,00,000/-

Terms and Restrictions of OPC

A person shall not be eligible to incorporate more than a One Person Company or become nominee in more than one such company.
Minor cannot shall become member or nominee of the One Person Company or can hold share with beneficial interest.
An OPC cannot be incorporated or converted into a company under Section 8 of the Act. [Company not for Profit].
An OPC cannot carry out Non-Banking Financial Investment activities including investment in securities of any body corporate.
An OPC cannot convert voluntarily into any kind of company unless two years have expired from the date of incorporation of One Person Company, except threshold limit (paid up share capital) is increased beyond Rs.50 Lakhs or its average annual turnover during the relevant period exceeds Rs.2 Crores i.e., if the Paid-up capital of the Company crosses Rs.50 Lakhs or the average annual turnover during the relevant period exceeds Rs.2 Crores, then the OPC has to invariably file forms with the ROC for conversion in to a Private or Public Company, with in a period of Six Months on breaching the above threshold limits.

2 Working Days	You need to send us above mentioned documents. The first process will be to apply DSC and DIN of Diirectors.
7 Working Days	After getting DSC and DIN of all Directors, We will ask you six names of your choice for Private Limited Company and Form INC-1 will be filed for reservation of the name.
4 to 5 Working Days	Your application will be processed by the department and the name of company will be approved and after that incorporation forms will be filed to the registrar of companies along with required documents. The registrar of companies, If find all the details in order, will issue a certificate of incorporation.
7 Working Days	After Getting registration certificate of the Public Limited Company, Application will be made for issuance of certificate of commencement of business in form INC-21.
1 Working Day	The last step wiil be to apply for PAN/TAN of the company as per your requirements. You will recieve PAN/TAN with in 15 days at your registered office.