One Person Company


One Person Company (OPC) Registration

The concept of One Person Company [OPC] is a new form of business, introduced by The Companies Act 2013, thereby enabling Entrepreneur(s) carrying on the business in the Sole-Proprietor form of business to enter into a Corporate Framework. One of the most important advantages of a One Person Company (OPC) is that there is only one member in a OPC, whereas a minimum of two members are needed for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP). Similar to a Company, a One Person Company is a separate legal entity from its promoter, providing limited liability protection to its sole shareholder, whereas having continuity of business and being simple to incorporate.

This is a very important concept where the person forming the One Person Company must nominate a Nominee with his written consent who, within the event of death or inability to contract of the owner of the One Person Company, shall come out and take over the reins of the one person company. Who is associate Republic of Indian national and resident in India shall be eligible to include a one Person Company.

Single Person Company will get itself converted into Private limited company when increasing the minimum range of members and directors and if it crosses an annual turnover of Rs.2crores and should file audited financial statements with the Ministry of Corporate Affairs at the end of every year like all kind of firms.

Glad e-filing is that the market leader in company registration services in India, we are offering various type of company registration like private limited company registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration and Indian Subsidiary registration. The average time taken to complete a One Person Company registration is about 10 - 15 working days, subject to MCA guidelines and client document submission. Get a free consultation on company registration and business setup in India by scheduling an appointment with a Glad e-filing consultant.

Reasons to Register a One Person Company

Single Promoter

One Person Company is the only type of corporate entity which will be started and operated by one promoter with limited liability protection in India. Banks and Financial Institutions choose to offer funding to a corporation instead of partnership firms.

Easy exchangeability

Ownership of a business is simply transferred during a company by transferring shares. The linguistic communication, filing and transfer of share transfer form and a share certificate is sufficient to transfer ownership of a company. In a one person company, the ownership can be transferred by altering the shareholding, directorship and nominee director information.