You, only the owner helpful in quick decision-making, controlling and managing the business without following any elongated processes and methodologies as adopted in other companies. The sense of belonging inspires to grow the business further. Yet OPC can select as many as 15 directors for official functions, without providing any share to them.
One Person Company have to face little compliance burden as compared to private limited companies , hence One Person Company can more focus on other functional and core areas.
Any remuneration paid to the director will be allowed as deduction as per income tax law unlike proprietorship. Other benefits of presumptive taxation are also available subject to income tax act. Read more differences in our article OPC vs Sole Proprietorship.
The director personal property is always safe in a OPC private limited company, no matter the debts of the business.
As an OPC needs to have its books audited annually, it has greater credibility among vendors and lending institutions
Any business entity that runs in the form of company always enjoys an increased trust and prestige.
Step-1 Choose a unique name for your company using RUN.
Step-2 Apply for DSC for director.
Step-3 Drafting of DIR-2, INC-9, INC-3 & Other documents.
Step-4 Drafting of Spice, eMOA, eAOA & Agile.
Step-5 Online filing of Spice, eMOA, eAOA & Agile.
Step-6 Get Certificate of Incorporation, PAN & TAN of your company.
· Only one Director and must be resident of India but maximum can be 15 directors.
· Name of company should be unique. The purposed name should not match with any existing company or trademarks in India.
· There is no minimum capital requirement for one person company
· Commercial space, residential space or rented space can be Registered office of company.
· There is no minimum education requirement for directors.
· Must have Nominee for company incorporation.
1. Pan Card of directors & Nominee (Scanned Copy)
2. Aadhar Card of directors & Nominee (Scanned Copy)
3. Voter Id / Passport / Driving License of directors & Nominee (Scanned Copy, of Any One Document)
4. Latest bank statement / Telephone Bill / Mobile Bill / Electricity Bill /Gas Bill (must be less than 2 months old ) of directors & Nominee (Scanned Copy, of Any One Document)
5. For Registered Office of Company recent copy of electricity bill or property tax receipt or water bill or rent agreement along with latest utility bill or no objection certificate from landlord are required.
6. For foreign nationals apostilled / notarized copy of passport require
1. All documents must be valid.
2. For One Person Company Registration, Registered office need not to be a commercial space , it can be residential space
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