One Person Company (OPC) is a private company with one individual as the sole shareholder and owner. The idea of a personal company was introduced in India by the Companies Act, of 2013.

One Person Company means a business that has only one member.
A person that is an Indian Citizen and resident of India can go for the OPC registration process. One Person Company (OPC) is classified as a Private Limited Company under the Companies Act 2013. OPC can only have one shareholder at any time of time. Furthermore, OPC cannot add shareholders to increase its capital. OPC can't include shareholders to raise additional capital.

This kind of company is a brand-new invention following the introduction of the Companies Act, of 2013. The basic idea behind OPC registration online can be described as a private corporation that has a single shareholder. The major advantages of OPC include:

a. Only those with the status of Indian Citizen and resident in India can be a Shareholder of One Person Company
b. Boards may include one or more directors.
c. The maximum capital paid up share capital for an OPC will be Rs.50 lakhs
d. The maximum amount of turnover that can be made for OPC will be Rs.200 lakhs
e. The conversion from private limited to limited liability is feasible within two years after the start of its existence.

The person who is allowed to form more than one (1) OPC or become the nominee for more than one of these companies. If someone who is an OPC member, and that OPC is made a member of another OPC because of the nomination of that OPC is dissolved, he must revoke or alter the membership to satisfy this requirement within 180 days.

Who can register as a Person Company?

A. Persons with the status of Indian Citizens and residents in India can become Shareholders in a Person Company.

Who can't register as a Person Company?

A. Foreign Nationals and non-resident Indians as well as Corporate bodies are not able to register A. One Person Company. One Person Company.

How many OPCs can an individual register?

A. One person cannot join more than one (1) OPC or become the nominee for more than one of these companies.

Conditions required for One Person Company - OPC Registration

1. Shareholder

One Person Company (OPC) may be limited to 1() shareholder. The shareholder who is the first to join must sign the Memorandum and Articles of Association for registering the Company.

Only a person who is an Indian Citizen and resident in India is eligible to form a Limited Company following the laws of the Companies Act, 2013. One Person Company (OPC) is classified in the category of a Private Limited Company under the Companies Act 2013.

OPC can only have one shareholder at any given point in time. Furthermore, OPC cannot have more than one shareholder at any time. OPC can't include shareholders to raise additional capital. Only individuals can become shareholders in an OPC. A Company or LLP can't sign up for an OPC or join the ranks of the OPC.

2. Nominee Shareholder
At the time of the incorporation of OPC subscribers to memorandums of a One-Person Company shall nominate a person to be a nominee, with their beforehand written approval to be the company's member when the subscriber's death, or inability to contract. Only those who are Indian citizens and are a resident of India are eligible to become a Nominee for the member who is solely a One-Person Company.

The nominee shareholder has to sign an agreement to be a member of OPC

3. Directors
Minimum of one (1) director within the form of a One-Person Company (OPC). Only individuals can be appointed as directors of a business. OPC may have more than one Director, and Directors are not required to be shareholders. Director(s) are not required to be shareholders.

A person must have an active DIN for becoming a director of a company. If Directors are those who don't have DINs, then the Ministry of Corporate Affairs will assign a Director Identification Number (DIN) to the Director during the process of company registration.

4. Digital Signature Certificate
The shareholder proposed for an OPC registration online must possess an active Digital Signature Certification issued by a Certifying Authority (CA) under Information Technology Act 2000. The shareholder who is the nominee does not need to be issued a Digital Signature. However,

1. Share Capital of Company
2. Authorised Capital

Authorised Capital, also known as the Registered Capital of a company is the highest amount of capital at which a business can issue shares or take cash from shareholders. The company registration fee is due to ROC and is determined based on Authorised Capital. There is no need to adhere to the minimum Authorised Capital for the registration of a One Person or Company. But, a One-Person Company (OPC) is allowed to have a maximum authorised capital in the amount that is Rs.50 Lakhs.

5. Subscribed Capital
Subscribed Capital is how much capital that has been agreed to be paid by shareholders to the company. There is no need for a minimum amount of Paid-up Capital needed for the registration of a Company. But, there should be a minimal amount to be pledged by the first promoters in the company. (1 share Re.1.00, or one share worth Rs.10.00, etc.)

To begin a business for the company following the incorporation date, a statement has been filed at the Registrar of Companies that every subscriber to the memorandum paid the number of shares to be taken by the subscriber. This declaration should be submitted by the business within a time of 180 days from when the company was formed. the company on form No.INC-20A.

6. Paid Capital
Capital paid up of companies refers to how much capital that shareholders contribute in the name of the corporation. One-Person Company (OPC) can only have the maximum amount of paid-up capital of Rs.50 Lakhs.

7. Company Name
Name selection for a company is essential for the speedy registration of a business. The Company Name approbation and the allotment procedure in India are managed through MCA. Ministry of Corporate Affairs (MCA) according to the Corporate Name availability guidelines that were issued under the Companies Act 2013.

Promoters need to choose a corporate name following the Guidelines for Availability of Company Names set out by the Ministry of Corporate Affairs.

The name of the company will begin with "(OPC) Private Limited"
1.Registered Office Address
Registered Office is the official address for correspondence of a business or its primary place of business. This address is the registered office Registered Office will be used for all official communications for the business. When registering a brand new Company there are two ways to note an address for the Registered Office address:

There are two choices for the promoters, to select the address of the registered office.

a. Temporary Address:
Use the address as a Temporary Registered Office for Registration. You must submit the permanent address documents in the first 30 days following the date of Company Registration.

b. Permanent Address:
Choose a permanent address for your Company during the process of registration and in this situation there isn't any filing requirement after the registration for the Company.

In both cases, the address listed in the forms of registration must be recorded on the certificate of registration. Any changes in an address made following the Company Registration will not be recorded in the certificate of incorporation.

A business must be registered with a company office that is capable of accepting and acknowledging all notices and communications which are sent to it. Within 30 days of incorporation, the company has to provide proof of its official address with the Registrar of Companies in Form 22.

Execution of Documents, and also create electronic documents for filing using MCA
Alongside other than the Identify the Identify Address documents for Directors and shareholders These documents are to be signed by the promoters of the Company:

1. Consent to act as Director Form DIR-2
2. Affidavit signed by Director & Subscriber Affidavit by Subscriber & Director: INC-9
3. Nominee Consent Form: Form INC-3
4. No-Objection letter for the Registered Office of the Company
5. Declaration for the Certification of DIN Engagement Letter to a professional for certification.

If Company or LLP has shareholders or if the name of the Company is akin to the name of an existing company or LLP The following documents in addition to the documents are also required:

1. Documents required from Company or LLP (If the shareholders belong to a Body Corporate)
2. Authorization to execute to an individual to execute the
3. Company Incorporation Documents
NoC/Authorisation for Use of Trademark or Name If there is one.