The latest form of business introduced by Companies Act, 2013 is “One Person Company (OPC)”, which is a parallel and more structured form of Proprietorship. OPC Registration requires only one member to create this company and at the same time it has a separate legal entity, offers limited liability protection and enjoys stability and continuity of business. OPC Registration usually takes 10-15 days.
Every OPC has to mandatorily nominate a nominee Director in the MOA or AOA who will become the owner of the OPC in case the promoter Director is disabled. An OPC must be converted into a Private Limited Company if it crosses an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year.
One Person Company
One Person Company (OPC) Registration in India
Legal Entity
An OPC is a legal entity and a juristic person. It has wide legal capacity and can own property.
Limited Liability
The Directors or Shareholders of the company have no personal liabilities.
Lesser compliance
One Person Company (OPC) also gets freedom from complying with many requirements as normally applicable to other private limited Companies.
Single Owner Control
Complete control over the company by a single owner is a rare combination. This leads to fast decision making and execution..
OPC Registration Process
It usually takes 10-15 days to register an OPC through SPICe INC-32 (A single application for Reservation of Name, Incorporation of Company, Allotment of DIN), subject to ROC processing time. L-Man makes OPC Registration easy for you.
01
DSC Application
1-3 working days
02
MoA & AoA, SPICe INC-32
7-9 working days
03
PAN & TAN Applications
1-3 working days
