One Person Company (OPC)
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Starting @ ₹5999/-
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What is One Person Company (OPC)
The structure of the one-person company (OPC) in recent times was launched as a refinement of the structure of a sole proprietorship firm. In an OPC, a single promoter gains full authority over the company thereby, restricting his/her liability towards their contributions to the enterprise. Therefore, the said person will be the sole shareholder and director (however, a director nominee is present, but has zero power until the real director proves incapable of carrying on). Also, there can be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC has an average turnover of ₹2 crores thrice in a row and over or acquires a paid-up fund of ₹50 lakh and over, it has to be converted to a private limited company or public limited company within six months.
Benefits of OPC Registration
- Limited Liability
- Continuous Existence
- Greater Credibility
Checklist for OPC Registration
- PAN card & Aadhar Card
- Passport/ voter’s ID/ driving licence
- Latest bank statement/ telephone bill/ mobile bill/ electricity bill/ gas bill
- Passport-size photograph
- Blank document with specimen signature.
- Sale deed/property deed in English (in case of owned property).
- Rent agrement (if rented)
- No-objection certificate from the property owner
- Digital Signature
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One Person Company (OPC) Registration – FAQs
What is an OPC (One Person Company)?
An OPC is a private company with a single owner, allowing a sole entrepreneur to enjoy limited liability and full control over the business.
Who can register an OPC?
Only a natural person who is an Indian citizen and resident in India can incorporate an OPC.
Can an NRI or foreign citizen open an OPC in India?
No, only Indian residents (living in India for at least 120 days in the last financial year) can form an OPC
What are the benefits of OPC?
- Limited liability
- Separate legal identity
- Full control by one person
- Easy to manage
- Fewer compliances than a Pvt Ltd company
What documents are required for OPC registration?
- PAN card & Aadhaar card
- Passport-size photo
- Address proof (bank statement, electricity bill)
- Office address proof (rent agreement, utility bill)
- Nominee details with consent
Who is a nominee in an OPC?
A nominee is the person who will take over the company in case the sole member dies or becomes incapacitated.
Is it mandatory to appoint a nominee for OPC?
Yes. A nominee is compulsory at the time of incorporation of an OPC.
Can I change the nominee of an OPC later?
Yes, the nominee can be changed anytime by filing Form INC-4 with MCA.
What is the minimum capital required to start an OPC?
There is no minimum capital requirement. You can even start with ₹1 as paid-up capital.
How long does it take to register an OPC?
With correct documents, it usually takes 7–10 working days.
What is the government fee for OPC registration?
Government and professional fees vary, but total costs typically range from ₹6,000 to ₹15,000, depending on the state and authorized capital.
Can an OPC be converted to a Private Limited Company?
Yes, OPC can be voluntarily converted to a Pvt Ltd company after 2 years, or mandatorily when:
- Paid-up capital exceeds ₹50 lakh
- Annual turnover exceeds ₹2 crore
Can an OPC own property?
Yes, since an OPC is a separate legal entity, it can own property in its name
Can OPCs raise funds?
OPCs have limited fundraising options. They can’t issue shares to the public but can raise funds through:
- Loans
- Angel investors after converting to Pvt Ltd
Is audit mandatory for an OPC?
Yes, even if turnover is low, statutory audit is mandatory for all OPCs under the Companies Act.
Does an OPC have to file returns?
Yes, it must file:
- Annual return (Form MGT-7A)
- Financial statements (Form AOC-4)
- Income tax return annually
Can I register multiple OPCs?
No, a person can incorporate only one OPC and cannot be a nominee in more than one OPC.
Can an OPC have directors?
Yes, OPC must have one director, but can have up to 15 directors
Can an OPC be registered at a residential address?
Yes. A residential address can be used as the registered office for an OPC.
What are the post-registration compliances of an OPC?
- Appointment of auditor
- Maintenance of books of accounts
- Annual return filing
- Board resolutions
- Holding at least 1 board meeting in each half of the year
Is GST registration required for OPC?
Yes, if the turnover exceeds ₹40 lakh (goods) or ₹20 lakh (services) or if doing inter-state supply, GST registration is mandatory.
Can an OPC do import/export business?
Yes, OPCs can apply for an IEC (Import Export Code) and engage in international trade.
Can an OPC be registered under Startup India?
Yes. OPCs are eligible for Startup India registration, DPIIT recognition, and tax benefits.
Can an OPC be registered under MSME?
Yes. OPCs can register as MSME/Udyam and avail subsidies, tenders, and credit benefits.
What is the tax rate for OPCs?
As a company, OPCs are taxed at 22% (plus surcharge and cess) under the new regime if opted.