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• Easy Succession: Even though a single person manages daily operations, an OPC allows perpetual succession. In case of the member’s death, the nominated person can take over and continue running the company smoothly.
• Limited Liability: The member of an OPC enjoys limited liability. Since OPC is a separate legal entity, personal assets of the member are protected. The liability is limited to the value of shares held. In case of bankruptcy, creditors can take action against the company, not the director personally.
• Sole Director and Shareholder: An OPC allows a single individual to act as both director and shareholder. There is no requirement for additional directors or executive management, making decision-making faster and simpler.
• Ownership of Property: As a separate legal entity, an OPC can own property and assets in its own name. Machinery, factories, buildings, and other assets acquired by the OPC cannot be claimed by others and legally belong to the company itself.
Advantages
A private limited company is a one-person operation. It is the world’s most well-liked structure. A one-person company can be started by an individual without being limited to having two directors.
OPC is limited to small businesses. Maximum paid-up share capital for OPC is Rs. 50 lakh, and the company must generate Rs. 2 crore in revenue annually to avoid conversion to a private limited company.
Get Digital Signature Certificates for directors and shareholders.
Apply for Director Identification Numbers through DIR-3 or SPICe+ form.
Reserve a unique company name.
Prepare and file the Memorandum and Articles of Association.
Apply for company’s PAN and TAN along with incorporation.
Receive the COI with Corporate Identification Number (CIN).
Minimum Number of Members: At least 7 members are required to form a Public Limited Company. There is no upper limit on the number of members.
Minimum Number of Directors: A minimum of 3 directors is required. At least one director must be a resident of India.
Minimum Capital Requirement: A minimum authorized share capital of ₹1 lakh is required (subject to change as per government regulations).
Digital Signature Certificate (DSC): All proposed directors must have a Digital Signature Certificate for online filing of documents.
Director Identification Number (DIN): All proposed directors must have a valid DIN issued by the Ministry of Corporate Affairs (MCA).
Company Name Approval: The proposed company name must be unique and approved by the Registrar of Companies (ROC).
Registered Office Address: The company must have a registered office address in India, which will be used for official communication.
Memorandum of Association (MOA) and Articles of Association (AOA): These documents must be drafted, signed by the members, and filed with the ROC.
Compliance with Regulatory Authorities: The company must comply with the rules and regulations of the Companies Act, 2013, and other applicable laws.
Estimated Completion Time
15-20 Days
Estimated Completion Time
8-10 Days
Estimated Completion Time
5-7 Days
The expected completion time given above for all packages does`not include the time taken by the government for approvals.
Company name reservation is free for the first time. Applying again would be chargable.
Get 10% Flat OFF on Trademark registration and GST Registration packages if you buy a premium package for private limited company registration
