FAQ - One Person Company (OPC)
- What is a One Person Company (OPC)?
The concept of One Person Company is the new vehicle of doing business introduced by the Companies Act, 2013. The old Companies Act, 1956, required at least two directors and shareholders to form a private limited company. In OPC, there is only one person who will act in the capacity of a Director and a shareholder as well. Such type of a company is formed as a Private Limited Company.
- Documents for OPC Registration?
The important documents required for OPC registration are identity proofs and address proofs of all proposed Director and Nominees of the OPC. PAN Card is mandatory for such registration. Besides, a No Objection Certificate (NOC) should be obtained from the landlord of the registered office address for having company's office located in his or her premises. Moreover, the identity and address proof of the landlord is also required.
- How to Register One Person Company?
An OPC can be registered in 14-20 working days. Following are the steps to register an OPC:
- Obtaining DSC and DIN: DSC and DIN are needed for the Director of the OPC. It generally takes 5-7 days.
- Name Approval: Minimum one and maximum of six names should be submitted to the Ministry of Corporate Affairs.
- OPC Registration: Submission of OPC registration documents to the MCA along with the application form for registration.
- What is the minimum authorized capital for starting up a One Person Company?
The minimum authorized capital for starting up a One Person Company is Rs. 1 lakh.
- What is the minimum number of directors and shareholders to form a One Person Company?
To register a One Person Company, one Director and one nominee is required. Only one shareholder is enough to form a One Person Company. In the event of promoter�s death or if he is incapable of becoming a member, the nominee becomes the member of the Company.
- Who is a Nominee in a One Person Company?
Only a natural person, who is an Indian citizen and resident in India, shall be a nominee in a One Person Company. By "Resident in India" we mean that a person who has stayed in India for a period of not less than 182 days during the immediately preceding one year.