One Person Company
One Person Company Registration | OPC Registration
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From Startup Specialist
With the introduction of the Companies Act, 2013 the concept of the One Person Company Registration or OPC Registration came into existence to motivate small traders and entrepreneurs who have the potential to start their own businesses and build up their own identity. The biggest advantages of starting One Person Company or OPC are that only one person is required to start the business. An entrepreneur can be the master of their own domain in the case of One Person Company (OPC).
Benefits for One Person Company Registration
Limited Liability
The directors’ personal property is forever safe in no matter the debts of the business. In OPC only investment in the company is lost, personal assets of the directors are saved.
Continuous Existence
An OPC has a separate legal identity, it would pass on to the nominee director, therefore, it has continued existence.
Greater Credibility
An OPC requires to have its books audited yearly, it has higher credibility between vendors and lending institutions.
Easy to Sell OPC
OPC Company or One Person Company is simple to sell because of limited documentation work.
Full Control over the Company with a Single Owner
This fact helps in fast decision making and execution. Yet OPC can select as many as 15 directors for official functions, without providing any share to them.
Easy to raise funds and loans
OPC is 1 of the easiest forms of corporate entities to operate. Very few ROC filing is to be registered with the Registrar of Companies. No need to handle Annual General Meeting and other regular compliances.
Documents Required For OPC Registration / One Person Company Registration
- Copy of PAN Card of owner
- Passport-size photograph of the owner
- Copy of Aadhaar Card/ Voter identity card
- Copy of Rent agreement (If rented property)
- Electricity/ Water bill (Business Place)
- Copy of Property papers (If owned property)
- Landlord NOC (Format will be provided)