This is an innovative way to incorporate a company now in India. This was introduced by amended Companies Act in the year 2013.
In this type of business structure, only one person holds every right and stakes in the company, same as Proprietorship firms. This could be termed as Hybrid version of Proprietorship firms. A nominee is must be appointed in this structure of firms to establish the nature of perpetuity and to work in some circumstance like disability or death of the owner.
Alonika.in is the right option to begin the journey. Get One Person Company (OPC) registered by Professionals like Chartered Accountants and Company Secretaries. Just contact us for One Person Company Registration and stay focused towards the dreams of success
Documents required for OPC
- PAN Card and AADHAR Card of proposed Member and Director.
- Bank Statement of Proposed Member and Director not older than 2 months
- Latest Passport Size Photograph of Member and Director
- Contact details
- Business Object
- Education qualification of Director
- Occupation of Director
- Address details of registered place of business (Electricity Bill / Rent deed / Copy of registry / Consent and NOC of Owner)
Advantages of One Person Company
1. Limited Liability: It is one of the most important factors of a Pvt. Ltd. company that saves the members from being personally affected by the fall but not the growth of the company. If the company incurs big losses, more than its assets, the owners or the members, personal assets remain untouched. They are not required to liquidate and liquefy their personal properties to pay off the debts and losses the company makes protecting the individual investors.
2. Perpetual Business Entity: A Pvt. Ltd. company, once registered, is considered as an individual under the law. It remains unharmed under different situations and survives unless the company is winded up following a legal procedure. It means that the status of the members do not impact on the life of the business. So even if the owners pass away, go bankrupt, or have to liquefy assets, a Pvt. Ltd. company remains unaffected and continues to live till someone closes it.
3. Separate Legal Identity: Unlike a proprietorship firm, a One Person Company once registered holds a separate legal identity form its stake holder, similar to Private Limited Company.
4. Less Compliance: One Person Company has to perform some annual compliances similar as private limited companies but there are some exemptions also like no requirement of Board Meeting or Annual General Meeting as there is only One stake holder.
Frequently Asked Questions
What is a One Person Company (OPC)?
What will be the form of One Person Company?
What is the minimum authorized capital for starting up a One Person Company?
What is the minimum number of directors and shareholders to form a One Person Company?
Who is a nominee in a One Person Company?
Can I appoint my wife as my nominee for my One Person Company?
Can a nominee of a One Person Company be changed after incorporating the company?
How many One Person Companies can I form?
Can a foreign national form an One Person Company?
Does a nominee of aÂ One Person Company need to acquire a DIN number as well?
Who can be appointed as a nominee for a One Person Company?
Who is considered as resident for the purpose of forming a One Person Company or being appointed as a nominee?
In how many One Person Companies can a person become a nominee?
Can a One Person Company be converted into a Section 8 company or any other company?
Who all are disqualified to form an One Person Company?
- A minor.
- A foreign citizen.
- A person incapacitate to contract.
- Any other person apart from living person.