ONE PERSON COMPANY REGISTRATION

 

One person company (OPC) means a company formed with only one (single) person as a member, unlike the traditional manner of having at least two members. OPC under the Companies Act, 2013 is a separate legal entity having perpetual succession, which is required to be registered as per the provisions of the Companies Act, 2013. The liability to repay the loan or any credit facility availed by the OPC is limited only to the OPC, thus, making it a separate legal entity from the owner.

Benefits of One Person Company Registration

Separate Legal Existence provides for limited liability of the owner.

Easy Funding. The legal status of an OPC as an incorporated company gives an edge to it with respect to availing of loans from any banks as compared to a sole proprietorship.

An OPC is exempted from stringent legal compliances of general meeting, board meetings, quorums, voting inclusion of cash flow statements in financial statements, mandatory rotation of an auditor, except in certain circumstances.

 

Documents Required

Photograph (of Director and Nominee)

Pan Card (of Director and Nominee)

Address proof (of Director and Nominee)

Business address proof (Utility bill)

NOC (from owner of registered office)

Rent aggreement (of registered office in case of rented property)