Minimum Requirements to Incorporate a Company
Minimum One Person
Register your company with just a single owner to act as the initial director/shareholders. Only a resident citizen of India can incorporate a One Person Company. A Nominee is also required for the single owner.
The company need an address for incorporation; we require proof of registered address and the NOC from the owner of the registered address. The residential address can be given as a registered address.
Invest as per the requirement of your business, and there is no minimum or maximum capital requirement as such prescribed in law. However, the govt fee for company registration is based on the capital.
List of Items that you get with One Person Company Registration
- DIN for 1 Director
- Digital Signature for 1 Director
- Company Name Approval
- MOA + AOA Drafting
- Incorporation Certificate
- PF + ESIC + PT Registration
- Copy of Spice Plus Form as approved
- Company ePAN Card
- Company TAN/TDS Number
- Bank A/c Opening Document Support
Note: The Govt Fee payable to ROC depends on Capital and the Location of the Company. Request Customised Quote
Process of OPC Registration
For registration of OPC, only one person is required as a shareholder. However, up to 15 people can be appointed as a director. The one person company is suitable for small companies where the turnover is not likely to cross Rs. 2 Crores, and the maximum amount of capital is limited to Rs. 50 Lac. An OPC can have more than one director. However, one of them must be an Indian Resident. The OPC can be registered by Indian Citizen Only, and FDI is not allowed in an OPC. You may calculate the OPC registration fee and place an online order with us. All documents and information may be submitted to us Online.
- Which Business Entity Type Is Right For Your New Business?
- Check Name Availability For OPC Registration
- Document Checklist and Format
Documentation plays a significant role in OPC Registration. The primary documents of promoters like PAN, ID, and address proof are to submitted along with utility bills like electricity bill, water bill, or telephone bill of the registered address along with a NOC from the owner of premises as proof of the registered address of the Company. The list of documents required is provided above for your reference. We shall request the necessary information for OPC Registration in the Questionnaire.
Selection of Name for OPC Registration
The name of every Company should be unique and must not violate the name of any other company or someone else trademark. For this purpose, we conduct a thorough search of the name as per section 4 of the companies act and read with rule 8. Please refer to our detailed discussion on name approval guidelines for company registration.
DSC for All Promoters of One Person Company
DSC is equivalent to the physical or paper signature under the information technology act. For registration of One Person Company, all the applications to ROC are filed in digital format signed by its proposed director. The filing process for OPC Registration starts with the issue of a digital signature for the shareholder and director of the Company.
Name Approval for OPC Registration
RUN is the name of an online application, which is to be used for making an application for seeking approval of the ROC for the proposed Name of the Company. It is a web-based application, where two names in order of preference can be filed with a note on the significance of the name and the business activities.
Spice Form Filing to ROC for OPC Incorporation
After name approval of the OPC, we need to file the formal application for incorporation of the Company in form SPICE to the ROC with appropriate documents as attachments. The documents to be attached with Spice Form are MOA, AOA of the Company, KYC documents of promoters, and proof of the registered address with NOC from the landlord. The DSC of the promoters is then used to sign the application, which is further attested by one practising Chartered Accountant, Company Secretary, Cost Accountant, or an Advocate practising at High Court. The government filing fee for Company Registration depends on the proposed capital of the Company.
Registration of The OPC Company with ROC
The final stage for the OPC registration is the Issue of Certificate of Incorporation for the One Person Company after the verification of the application for OPC Registration is filed in Spice Form. The issue of the registration certificate for OPC is the conclusive proof of the registration of the Company by ROC.
PAN & TAN Number for the OPC
Nowadays, the issue of Pan Number and TAN is done automatically at the time of incorporation of the Company. There is no need to make any separate application. The PAN Number and TAN comes printed on the certificate of incorporation itself, and after the registration of the Company, E-Pan and Tan letter is sent via email.
All Inclusive Fee For OPC Company Registration For Specific State (For Capital upto ₹ 1,00,000 and One Promoters)
National Capital Territory of India
Mumbai, Pune, Nagpur, etc.;
Hyderabad, Warangal, etc.;
Bengaluru, Mysore, etc.;
Visakhapatnam, Vijayawada, etc.;
Faridabad, Gurugram, etc.;
Noida, Lucknow, etc.;
100% Online Process
List of Documents Required For OPC Registration
A. Documents of Directors/Shareholder
- Passport Size Colour Photograph
- Pan Card of All Promoters
- Address Proof: Telephone, Gas, Electricity Bill or Bank Statement
- Identity Proof: Passport/Voter ID/Driving License
B. Documents For Registered Address
- Proof of Premises: Telephone, Electricity, Water Bill
- No Objection Certificate (NOC) From Owner
- Download NOC Format .
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Comparison among OPC /Sole Proprietorship Firm / Partnership
One Person Company is owned by a single owner, akin to proprietorship. However, the OPC is registered in and regulated by the Companies Act, 2013. The details of the companies are verifiable at the MCA Portal.
There is no specific law of parliament or state that regulates the proprietorship business that is why it is so simple to start and operate. It also means that there is no way the details of the composition of the proprietorship business can be known. | Learn more on Proprietorship
The partnership firms are a traditional form of business and can start by way of an agreement between the parties. The Partnership Act of 1932 regulates the affairs if a partnership firm. The details of the partnership firm are not verifiable easily. | Learn more on Partnership Firm
For a company including the OPC, before 2015 amendment of the companies act, there was a requirement of minimum paid-up capital of Rs 1 Lakh. However, post amendment of the law there is no prescribed minimum capital as such. It means you may incorporate an OPC with any capital as you desire. Learn more on OPC
You can start the proprietorship firm with any amount of capital. It means there is no minimum or maximum capital prescribed as such for a proprietorship firm.
Just like the proprietorship or partnership, there is no minimum paid-up capital that has been prescribed in the partnership act
The OPC can be owned by only one Individual, also known as the sole shareholder. However, the sole owner of the OPC has to nominate another person to become his or her nominee. The OPC can have up to 15 directors. Click here to understand the difference between a shareholder and a director . To learn more about OPC Registration
A single Individual can start a Sole Proprietorship Firm, where he alone will invest all the capital and shall be entitled to all the profits of the firm.
In a partnership firm, a minimum of two partners is prescribed with a cap of a maximum of 20 partners.
The OPC is recognised as a separate legal entity in the eyes of the law, and the business is transferred to the nominee after the demise of the proprietor.
The proprietorship business lacks the benefit of perpetual succession. With the demise of the proprietor, the firm also ends its life. The proprietor and the proprietorship are the one and same.
Just like proprietorship, the partnership business is not regarded as a separate business. In fact, with the death or removal of a partner, a new firm comes in existence in place of the old one.
In an OPC the single shareholder is not liable for all the liabilities or debts of the company, and instead, he/she is responsible for paying only the sum which may be outstanding from her subscribed share capital.
The proprietor is personally liable for all the liabilities and debts of the business. To pay off these liabilities, the personal properties of the proprietor can also be attached.
The liabilities of the partnership firm is the joint or severe liability of each and every partner of the firm. Akin to the proprietorship, the personal assets of the partners can be sold off to pay the debts of the firm.
Frequently Asked Questions
1. Only One Person Required
An OPC can be registered in India, by only one person, who shall act as the directors/shareholders of the company. The maximum number of directors of an OPC is 15, and the number of shareholders cannot go beyond one.
2. Capital Requirement
Invest as per the requirement of your business, and there is no minimum capital requirement as such to be maintained in the company. However, the government fee for one person company registration is calculated on the capital.
One director of the OPC must be resident in India. A person is said to be resident if he or she stays in India for at least 182 days during the preceding financial year irrespective of their citizenship. The days of stay can be in phases.
4. Unique Name of Company
The proposed name of the company should not resemble any existing company or LLP. Further, you must check the trademark registry to ensure that the name does not match with any registered or applied trademark in India.
5. What is the difference between One Person Company and Other Forms of Business?
We have prepared a detailed and easy to understand comparative table showing the availability of features and advantages of one form of business to that of others. The same can be found at the end of this page. Click here to go there.
6. What documents are accepted as Identity Proof of Shareholder and director of OPC?
For incorporation of a One Person Company under the companies act, 2013, anyone from below list of the document is acceptable as Identity Proof of the director or shareholder or the proposed One Person Company.
- Driving License
- Voter ID Card
7. What documents are accepted as address proof of promoters?
For OPC Incorporation, any one document from below list of address proof of the director or shareholder is acceptable. The document in support of address proof should not be older than two months.
- Bank Statement or Passbook with the transaction entry
- Electricity Bill in the name of the promoter
- Telephone bill, or any other Mobile Bill
- Utility bill in the name of promoters like Gas Bill
8. What is a nomination in OPC Registration?
Since only one person is the shareholder of the OPC hence, hence at the time of incorporation of a one-person company, any other person is nominated as the nominee with their Consent.
9. What are the forms on which director or shareholder have to sign to register a One Person Company in India?
For OPC Formation in India, following are the forms on which promoters need to sign, All the forms/formats to be printed on plain A-4 size paper and signature should be preferable with a blue ink pen.
- DIR-2, Consent from all the director
- Declaration of Promoter for not accepting deposits from public
- INC-9 A Declaration under Companies Act, 2013
- Subscriber Sheet of MOA & AOA
- Consent of the Nominee
10. What are the documents required as proof of registered address for One Person Company Registration in India?
A One Person Company is incorporated with a physical address to be declared as the registered office of the newly registered OPC. Following are the list of the documents which is acceptable as proof of premises where the registered office of the company is situated. The premises proof should not be older than two months.
- Electricity Bill
- Gas Bill
- Telephone Bill
- Mobile Bill
- NOC from the owner
11. Do I need to take a NOC from the owner of premises for the registered address of OPC, What is the format of NOC?
Before a One Person Company occupies any premises as its registered address, a no objection certificate must be obtained from the owner of the premises. Similarly, at the time of filing for company registration, we need a NOC from the current owner of the premises along with proof of ownership as explained above. Download sample NOC letter from the owner of premises
12. Can co-working office space/ shared office/ Virtual Office address be the registered address of the One Person Company?
A registered office is required to be declared at the time of company incorporation and to be maintained by the company under section 12 of The Companies Act, 2013, which must be capable of receiving and acknowledging all communications and notices as may be addressed to it. Further, the statutory records of the company also need to be maintained at the registered address of the company. Hence having a registered address at coworking space is not acceptable unless this is a lockable area.
13. What is the limit of Capital with a One Person Company can be Incorporated?
A One Person Company can be registered with maximum capital of Rs. 50 Lac. If the OPC wants to increase capital beyond 50 Lac, then the same needs to convert as a normal company.
14. What is the turnover limit for a one-person company?
The OPC Can have an average turnover of Rs. 2 Crores for three years if the turnover exceeds the limit then the same need to mandatorily convert as a normal company.
15. What is the meaning of “Limited Liability” in OPC Company?
Limited Liability implies that the owner or shareholder of the One Person Company is not personally liable to pay debts of the business. They are only responsible for the unpaid shares of the capital of the company. To qualify, the shareholder needs to comply with all laws and pay taxes on time.
16. What are the most significant characteristics of the corporate form of business?
Apart from the consent of Limited Liability as explained above a company have the following significant features
- The company will continue to exist, no matter how many directors, officers, and shareholders join or leave.
- A Company can Sue and be Sued in its name.
- A legal entity like a company has a separate identity from its owners or shareholders.
- The private limited companies receive financial assistance from banks and financial institutions, but it receives the preferred rate of interest.
- Like a person a private limited company can purchase, sell, own, possess, enjoy and transfer property rights to anyone in its name.