Start your own One Person Company

A One Person Company (OPC) allows you the benefits of Private Limited Company by being a single entrepreneur. Ideal for a single entrepreneur with high-scale business. Start your own OPC with MybizAID from Rs.15,000 (paid up capital up to Rs.1,00,000).

₹15000

(1 Director + 1 Nominee and Authorized Share Capital of Rs.1,00,000)

One Person Company

Understanding OPC

OPC is a hybrid of Sole Proprietorship and a company form of business. It gives an individual the benefit of having a corporate identity who manages business single handed.

Statute Governing OPC

An OPC is incorporated and registered under the Companies Act, 2013 by the ROC.

For Start-ups

While it is a new concept in India, the idea could well work for start-up entities trying to create a distinction between a legal person and the owners and yet have costs, compliances in check.

Advantages of One Person Company

Limited Liability

The liability of the shareholder / owner is limited to the value of amount paid against the shares. This means any loss or debt which is purely of business nature will not impact, personal savings or wealth of an entrepreneur. It is the best suited form of business for those willing to take a venture alone.

Balances the disadvantages of sole proprietorship

An OPC is a more organised version of sole proprietorship business. It gives an entrepreneur, desiring to start a venture, a corporate identity and thereby opening new avenues for availing banking facilities for them.

Close Supervision

Usually, in an OPC the member and the director can be the same, hence the management of the Company is often under close supervision. However, the number of directors can be increased to maximum of 15.

Lesser compliance burden

As compared to other forms of companies OPC have been given exemptions under the Companies Act, 2013. For example: they are required to have only two minimum board meetings in a year, each in one half, not required to make cash flow statements etc.

Legality

An OPC is incorporated as a limited company which has a separate legal identity. It is always beneficial for an entrepreneur to incorporate an OPC as compared to Sole Proprietorship business, as banks and creditors acknowledge the entity having a legal existence.

FDI Investment permissible

As per the extant FDI policy, FDI is permitted in Indian Companies, hence OPC being an Indian company is permissible to accept foreign investment.

Packages

BASIC

₹15000

(1 Director + 1 Nominee and Authorized Share Capital of Rs.1,00,000)

DSC, DIN, Name Approval,

Incorporation Fee, PAN, TAN

Share Certificates,Company Kit.

STANDARD

₹17000

(1 Director + 1 Nominee and Authorized Share Capital of Rs.1,00,000)

DSC, DIN, Name Approval,

Incorporation Fee, PAN, TAN

Share Certificates,Company Kit,

TDS Filing for First Year.

PREMIUM

₹22000

(1 Director + 1 Nominee and Authorized Share Capital of Rs.1,00,000)

DSC, DIN, Name Approval,

Incorporation Fee, PAN, TAN

Share Certificates,Company Kit,

First Year ROC Filing,

First Year Income Tax Retrun Filing of Company,

TDS Filing for First Year.

One Person Company Incorporation Process

Obtaining DSC and DIN

Digital Signature Certificate (DSC) and Director Identification Number (DIN) are required for the proposed Director of the OPC. DIN and DSC can be obtained for the proposed Director within 2 days.

Name Approval

A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 5 working days.

OPC Incorporation

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time. OPC can be incorporated in 2-3 weeks subject to MCA processing time.

Apply for PAN and licenses

After the incorporation of the OPC apply for the PAN of the OPC and respective licenses as per the business. Also, open a current bank account in the name of the OPC.

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