One Person Company (OPC)

A One Person Company (OPC) is a type of business entity that can be formed with a single individual as the shareholder and director. The eligibility criteria for forming an OPC are generally as follows:

 

• Individual Eligibility: The sole shareholder must be a natural person who is an Indian citizen and resident in India.
   

• Director: The sole shareholder can also be the director of the OPC. Alternatively, the OPC must appoint one more director who must be a resident of India.
   

• Legal Entity: The individual cannot be a minor, and no more than one OPC can be owned by a single person.
   

• Registered Office: The OPC must have a registered office in India.
   

These criteria ensure that the OPC is managed effectively and maintains a clear legal framework for its operations.

• Limited Liability: Unlike sole proprietorships, OPCs offer limited liability protection to their sole member.
   
• Separate Legal Entity: An OPC is a distinct legal entity, separate from its owner.
   
• Continuity: The Company continues to exist beyond the life of its member.
   
• Less Compliance: OPCs have fewer compliance requirements compared to other corporate entities.
   
• Ease of Management: Simplified management structure with fewer complexities.

• Digital Signature Certificate (DSC): Obtain DSC for the director to sign electronic documents.
   
• Director Identification Number (DIN): Apply for DIN for the proposed director who does not already have one.
   
• Nominee Consent: Prepare and obtain consent from the nominee using Form INC-3.
   
• Name Approval: Submit the name approval application through the RUN service on the MCA portal.
   
• Incorporation Application: File the incorporation application using SPICe+ form along with MOA, AOA, and other required documents.
   
• Verification and Approval: MCA verifies the application and documents. If everything is in order, the Certificate of Incorporation is issued.
   
• Post-Incorporation Compliance: Obtain PAN and TAN, open a bank account, and register for GST if necessary.

1. Director Identification Number (DIN)

• Photographs
• Identity Proof: PAN card (mandatory for Indian nationals)
• Address Proof: Passport, voter ID, driving license, or Aadhar card
   

2. Digital Signature Certificate (DSC)
 

3. Memorandum of Association (MOA)
 

4. Articles of Association (AOA)
 

5. Proof of Registered Office Address

• Utility bill (electricity, water, gas, or telephone) not older than 2 months
• Rental agreement, if applicable
• NOC from the owner of the premises
   

6. Identity and Address Proof of Subscribers and Directors
 

7. Nominee's Consent Form (INC-3): Consent of nominee along with their PAN and Aadhaar card.

• Assisting in obtaining DSC and DIN
• Guiding through the nominee consent process
• Facilitating name approval and incorporation application
• Ensuring compliance with all legal requirements
• Providing ongoing support for post-incorporation compliance

Any individual, whether a resident or a Non-Resident Indian (NRI), can form an OPC. However, the individual must be a natural person and not a legal entity.

OPCs have fewer compliance requirements than other types of companies. They need to file annual returns, maintain proper financial records, and conduct audits if turnover exceeds specified limits. However, they are exempt from holding annual general meetings.

A nominee is a person designated by the sole member of the OPC to take over the company's operations in case of the member's death or incapacitation. The nominee's consent is required at the time of incorporation.

Yes, while an OPC can have only one member, it can have more than one director. The maximum number of directors allowed is 15.

The registration process for an OPC typically takes 7 to 10 working days, provided all the required documents are in order and there are no discrepancies in the application.

Yes, NRIs are eligible to form an OPC in India, provided they fulfill the required criteria and procedures.

An OPC is taxed as a private limited company under the Income Tax Act, 1961. It must file annual income tax returns and pay corporate taxes as applicable.

Legal Disclaimer
 

The information on this website is provided for general informational purposes only. It does not constitute legal or professional advice. We do not guarantee the accuracy, timeliness, or completeness of the information provided. You should always seek the advice of a professional consultant or attorney regarding your specific situation. Use of this website is at your own risk and subject to our Terms of Use.
 

SS Auditors understands the importance of client satisfaction and strives to provide high-quality auditing services. However, it is important to note the following refund policy:
 

​Cancellation & Refund Policy

S S AUDITORS AND TAX CONSULTANTS believes in helping its customers as far as possible, and has therefore a liberal cancellation policy. Under this policy:

• Cancellations will be considered only if the request is made immediately after placing the order. However, the cancellation request may not be entertained if the orders have been communicated to the vendors/merchants and they have initiated the process of shipping them.

• S S AUDITORS AND TAX CONSULTANTS does not accept cancellation requests for perishable items like flowers, eatables etc. However, refund/replacement can be made if the customer establishes that the quality of product delivered is not good.

• In case of receipt of damaged or defective items please report the same to our Customer Service team. The request will, however, be entertained once the merchant has checked and determined the same at his own end. This should be reported within Only same day days of receipt of the products. In case you feel that the product received is not as shown on the site or as per your expectations, you must bring it to the notice of our customer service within Only same day days of receiving the product. The Customer Service Team after looking into your complaint will take an appropriate decision.

• In case of complaints regarding products that come with a warranty from manufacturers, please refer the issue to them. In case of any Refunds approved by the S S AUDITORS AND TAX CONSULTANTS, it’ll take 3-5 Days days for the refund to be processed to the end customer.

Legal Disclaimer
 

The explanations and information provided on this page are only general and high-level explanations and information on how to write your own document of a Shipping Policy. You should not rely on this article as legal advice or as recommendations regarding what you should actually do, because we cannot know in advance what are the specific shipping policies that you wish to establish between your business and your customers. We recommend that you seek legal advice to help you understand and to assist you in the creation of your own Shipping Policy.
 

Shipping Policy - The Basics
 

Having said that, a Shipping Policy is a legally binding document that is meant to establish the legal relations between you and your customers. It is the legal framework for presenting your obligations to your customers, but also to address different possible sicarios that may accrue, and what happens in each and every case. 
 

A Shipping Policy is a good practice and it helps both sides - you and your customers. Your customers may benefit from being informed about what they can expect from your service. You may benefit because people may be likely to shop with you if you have a clear Shipping Policy in place since there won't be any questions about your shipping timeframes or processes.