Company Registration Process

One Person Company
The concept of One Person Company (OPC) was introduced by the Companies Act of 2013. It is a cross or hybrid between the sole proprietorship and company forms of business and combines the best features of both. As the name suggests, it allows a single individual to form a company. It combines the freedom of a sole proprietorship business with the limited liability and various other benefits that come with operating as a company.

 Following are some essential features of a One Person Company:

• Any natural person can form a company. i.e. an individual
• The person must be an Indian citizen or a person who is resident in India
• Such person will be the shareholder and member of the company. No other shareholder is required.
• Such shareholder must nominate a person to act as his nominee to act as the shareholder/member in the
event of his/her death incapacity.
• Consent must be obtained from a person before designating him/her as the nominee.
• An OPC must have a minimum of one director.
• The person forming the company may also act as the director.
• Such company can only be incorporated as a private company.
• It may be a company limited by shares, by guarantee, or an unlimited company.
• Minimum capital requirements are the same as applicable to a private company i.e. INR One (1) Lakh.