One Person Company

A One Person Company (OPC) is a unique business structure in India that allows a single entrepreneur to establish a private limited company, combining the benefits of a sole proprietorship and a corporate entity. Introduced under Section 2(62) of the Companies Act, 2013, an OPC provides limited liability protection, ensuring that the owner's personal assets remain safeguarded from business liabilities. It offers the flexibility of a sole proprietorship while granting the credibility and legal security of a corporate structure. With minimal compliance requirements and full control in the hands of the owner, an OPC is an ideal choice for individuals looking to scale their business with limited liability. Whether transitioning from a proprietorship or starting afresh, an OPC enhances business credibility and growth opportunities. The registration process is cost-effective and governed by the Ministry of Corporate Affairs (MCA), making it a smart option for solo entrepreneurs.

Procedure for Company Formation

Simple Easy Process

Documentation

Filing Application

Deed Drafting

Verification

Uploading forms

Get Certificates

Name Reservation
The first step in forming an OPC is selecting a unique company name as per Ministry of Corporate Affairs (MCA) guidelines. The name must include "(OPC) Private Limited" and should not conflict with existing businesses. If the name is rejected, an NOC (No Objection Certificate) or affidavit can be submitted for reconsideration. The MCA typically processes name approvals within 48 working hours.

Filing of SPICe+ Form
Once the name is approved, the next step is filing the SPICe+ Part B form, which includes essential company details. The applicant must submit identity and address proof of the director, a Director Identification Number (DIN) form, a utility bill for the business premises, and an NOC from the property owner (if applicable). These documents are then reviewed and verified by the MCA.

Drafting of MOA & AOA
The Memorandum of Association (MOA), which defines the company's objectives, nature of business, and shareholding details, is drafted and filed using INC-33. The Articles of Association (AOA), which outlines the company’s internal rules and regulations, is filed using INC-34. Both documents must be digitally signed by the director and a certified professional such as a Chartered Accountant (ICAI), Company Secretary (ICSI), or Cost Accountant (ICWAI).

Benefits of OPC

The formation of a partnership firm is easy as compared to the other forms of business organisations. The partnership firm can be incorporated by drafting the partnership deed and entering into the partnership agreement.

It need not even be registered with the Registrar of Firms. A partnership firm can be incorporated and registered at a later date as registration is voluntary and not mandatory.

The partnership firm has to follow very few compliances as compared to a company or LLP. The partners do not need a Digital Signature Certificate (DSC), Director Identification Number (DIN), which is required for the company directors or designated partners of an LLP.

The partners can introduce any changes in the business easily. It is cost-effective, and the registration process is cheaper compared to a company or LLP.

The dissolution of the partnership firm is easy and does not involve many legal formalities.

Documents Required

Identity proof of director

Address proof of director

Photograph of Director

Address proof of director

Contact details of director

Certificates You will get!

Allotment of DIN (for directors)

Company PAN & TAN

Incorporation certificates

Spice+ Forms Part A & Part B

MOA - Memorandum of Association

AOA - Articles of Association

Current Account Opening

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