One Person Company

One Person Company Incorporation

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Note down the Required Documents

For Director/Nominee

✍ PAN Card or Passport (in case of foreign nationals)
✍ Aadhaar Card 
✍ Voter’s ID/Driving License/Passport
✍ Latest Bank Statement/Telephone or Mobile Bill/Electricity Bill or Gas Bill
✍ Passport Size Photographs of promoters/Directors/Nominee
✍ Specimen Signature of director/Nominee

For Company

✍ Notarised Rental Agreement in case of rented property or Sale/Property Deed in case of own property
✍ No-objection certificate from Land Owner in case of rented property
✍ Rent Receipt in case of rented property
✍ Electricity Bill/Telephone Bill/Gas Bill having same address as appearing on the Rent Deed or the Registered Deed

*Note all the documents should not be older than two months & hand written documents are not acceptable.

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    Know about One Person Company

    One Person Company presented in India by the new Indian Companies Act of 2013. OPC is absolutely an appreciated means for entrepreneurial or professional establishments by individuals. This type of an organization consolidates the advantages offered by a sole proprietorship and a properly fused private limited company. The fundamental preferences offered by an OPC are the characteristics of being a different lawful substance, restricted risk, ease of formation and lesser administrative compliance. Thus, the OPCs are quickly becoming well known in India. So, if you need to fire up your own business, you don’t need to put stress over all the complex & tedious procedures. As there is no intervention from any outsider, an ever increasing number of Entrepreneurs are coming up and setting up their business.

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    FAQ’s on One Person Company

    1. How many people are required to start One Person Company?

    At least one nominee is required to start an OPC who can act as the shareholder as well as director.

    2. Who can register an OPC?

    As per the regulations only Indian residents can register an OPCs and that, too, only one at a time.

    3. How I can submit the documents?

    The whole process of company registration is online. You just need to submit your scanned documents with us at support@taxrodo.com, Then your vCFO is all set to start the incorporation process. The list of required documents is give above.

    4. Is FDI allowed for OPC in India?

    No, FDI into a one person company in India is restricted.

    5. Why should I form an OPC?

    An OPC is a good alternative to running a sole proprietorship, because it gives limited liability to the business owner. A sole proprietorship ceases to exist on the death of its promoter. In the case of an OPC, the nominee director takes over and the entity continues to exist.

    6. How many directors can there by in an OPC?

    An OPC has certain limitations. The person starting the business is its only director and shareholder. There is also a nominee director, but this person has no power whatsoever for raising equity funds or offer employee stock options. The nominee exists only to take over in case of the death or incapacitation of the director. The nominee is chosen by the director, and can be anyone, such as your spouse, parents or siblings. The nominee will need to provide identity proof during registration.

    7. Can I start more than one OPC at a time?

    No, an individual can form only one OPC at a time. This rule applies to the nominee in an OPC, too.

    8. What is the main drawback of an OPC?

    The MCA is skeptical about a single person in charge of a large corporation. Therefore, it requires all OPCs to be converted into private limited or public limited companies on crossing a certain revenue number. Currently, in case of an average turnover of Rs. 2 crore or more for the three consecutive years or a paid-up capital of over Rs. 50 lakh, the OPC must mandatorily be converted into an OPC.

    9. What are the mandatory requirements of an OPC?

    All such businesses must maintain books of accounts, comply with statutory audit requirements and submit income tax returns and annual filings with the RoC.