Description

One person Company

In 2013, a new concept was launched in the Companies Act 2013, about the One Person Company (OPC). Before this act, no one could start a company as a single person. He has to choose a sole Proprietorship with 2 directors.
One-person company (OPC) means a firm formed with only one person as a member, unlike the conventional way of having at least two members. Moreover, it is recognition of a single-person financial entity that lightens the route for small traders, and service providers to launch into business by extending their opportunities through corporate identity.

How many members and directors are required for registration in OPC?

Proceeding further,1 Director is require in the one-person company registration. However, it is incorporate by a single person. Compliances are also less than a private limited Company.

The director and member can be the same individual.

Advantages Of OPC

• Legal status 
• Easy to obtain funds 
• Fewer compliances 
• Easy incorporation
• Easy management
• Perpetual succession

Disadvantages Of OPC

• Suitable for small business
• Restriction of business activities
• Ownership and management

How to register in OPC?

• Apply for DSC

1. Address proof
2. Aadhaar card
3. PAN card
4. Photo
5. Email Id
6. Phone number

• Apply for DIN
• Name Approval Application
•  Collect Documents
• Filing of Forms With MCA
• Issue of the Certificate of Incorporation