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Features of One Person Company.
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Easy Succession: Despite having a single person running all the daily activities of the company, OPC provides options for perpetual succession. After the demise of a member of the company, the nominee can run the company.
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Limited Liability: The member in a one-person company has limited liability. Since OPC is a registered company it is treated as a separate legal entity providing greater protection to its members. The liability of the member is limited to their shares so they are not liable for any losses conducted in the company. In case of bankruptcy, the creditors can sue the company and not the director of the company for procuring the company's debt.
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Sole Directorship and Shareholder: In one person company registration a single member acts as a director so they stand liable for managing the company's day-to-day activities. In this case, there is no need for an executive director to run the daily needs. A single member is more than sufficient and acts as a shareholder with all responsibilities.
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Ownership in Property: Since the OPC is treated as a separate legal entity the person has the right to hold property related to business and other assets in their name. The properties including machinery factories, residential property, buildings, and other assets cannot be claimed by another person. As per law, the one person company registration can acquire property directly under its name.
Who is Eligible?
📌 1. Eligibility for the Director/Shareholder
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Indian Citizen: Only Indian citizens can register an OPC.
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Resident of India: The director must have stayed in India for at least 182 days during the preceding financial year.
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Minimum Age: The director must be at least 18 years old.
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One OPC Rule:
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A person can register only one OPC as a director or shareholder.
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The same person cannot be a nominee in more than one OPC.
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🏢 2. Nominee Requirement
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An OPC must have a nominee who will take over the company in case of the director’s death or incapacity.
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The nominee must also be:
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An Indian citizen and a resident of India.
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At least 18 years old.
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Cannot be a nominee for more than one OPC.
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⚠️ 3. Restrictions on Business Activities
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OPCs cannot engage in:
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Non-banking financial activities (e.g., investment in securities).
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Section 8 companies (non-profit organizations).
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Conversion into Private or Public Limited:
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If the OPC’s paid-up capital exceeds ₹50 lakh or its annual turnover crosses ₹2 crore, it must be converted into a private or public limited company.
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Why Choose one person Company ?
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.
Disadvantages
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.
Document Required
📌 For the Director & Nominee
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PAN Card – Mandatory for both director and nominee.
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Aadhaar Card – For identity verification.
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Passport (if NRI or foreign national) – Mandatory for foreign nationals.
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Address Proof (any one):
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Voter ID
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Driving License
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Passport
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Ration Card
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Latest Bank Statement/Utility Bill (not older than 2 months) – For address validation.
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Passport-size Photograph – Recent colored photograph of the director and nominee.
🏢 For the Registered Office
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Electricity Bill / Water Bill / Gas Bill – As address proof (not older than 2 months).
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NOC from the Property Owner – No Objection Certificate for using the property as the company’s registered office.
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Rent Agreement / Sale Deed – If the office is on rent, the agreement is required. If owned, the sale deed is needed.
💡 Additional Requirements:
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Nominee Consent Form (INC-3) – Nominee's consent to become part of the company in case of the director’s incapacity.
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Director's Digital Signature Certificate (DSC) – Required for e-filing.
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Director Identification Number (DIN) – For the director.
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Declaration and Consent Forms – Declaration by the director and nominee confirming eligibility and consent.
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What will you get ?
Permanent Account Number
Tax Deduction Account Number
Certificate of Incorporation
Drafting of MOA / AOA
DSC for 2 yrs validity of 1 Director
Company Name Approval
Registration and Stamp Duty Fee
MSME Certificate
Notary and attestation Charges
