One Person Company Registration
As the name suggests, an OPC or One Person Company is a format of business where the company is owned by a single person. There is no more than a single director or more than a single member. Being a singly-handled company, it is easy to manage it. If you are an entrepreneur who seeks singular success, you can register an OPC in India.
The definition of a One Person Company is explained in Sub Section 62 of section 3 of the Companies Act, 2013, which states: “One Person Company means a company which features only one Member”. Unlike a private limited company, this single company registration with a single director doesn’t need minimum two directors. However, like a private limited company, the OPC registration in India does provide you with limited Liability.
OPC Formation can be done as an:
- OPC limited with Guarantee
- OPC limited with Share Capital
- OPC unlimited company
After the registration of a One Person Company, there are following benefits that can be enjoyed:
- Limited Liability: As the business entity is a company, the entrepreneurs have their assets protected from the failings of the company.
- Separate legal entity: an OPC Company is a separate legal entity from the owner.
- Less number of compliances: For a One Person Company, the number of compliances is less.
Before you can register OPC (One Person Company), there are some requirements that you need to keep an eye out for. Following are the OPC registration requirements that you need to know:
- Only one director
- Only One Member
- No minimum paid up share
- No capital
- No continued existence allowed.
These minimal requirements make the one person company registration process quite accessible, but yet, still difficult for common people.
Therefore, Becompliantnow is here to help. We are a team of leading business experts in India. Through our One Person Company Registration process, your OPC can be started on time and your dream your solo company can be realized.