A One Person Company (OPC) is a company with a single member who is also usually its director, registered under the Companies Act, 2013 through the MCA SPICe+ form. The member must be a natural person and an Indian citizen, and must name a nominee who will take over if the member dies or becomes incapable. An OPC gives a solo founder limited liability and the credibility of a company, with fewer compliances than a private limited company.
Who can form an OPC?
- A natural person who is an Indian citizen, whether resident in India or not
- A person can be a member of only one OPC at a time
- A minor cannot be a member or nominee
The nominee
The application names a nominee, with the nominee's written consent. If the member dies or becomes incapable of contracting, the nominee becomes the member. The nominee can be changed later by filing the required form.
Documents you need
- PAN and Aadhaar of the member and the nominee
- Nominee's consent
- Digital signature certificate of the director
- Registered office address proof and owner's no-objection letter
How to register
- Get a DSCFor the proposed director.
- Reserve the nameThe name ends with "(OPC) Private Limited".
- File SPICe+With e-MoA, e-AoA and the nominee's consent.
- Get the certificateThe Certificate of Incorporation shows the CIN, PAN and TAN.
OPC compared with a proprietorship
| OPC | Proprietorship | |
|---|---|---|
| Legal identity | Separate company | Same as the owner |
| Liability | Limited | Unlimited |
| Compliance | Company filings every year | Mainly tax filings |
| Credibility with buyers and banks | Higher | Lower |
Frequently asked questions
Can an NRI form a One Person Company?
Yes. An Indian citizen who is not resident in India can now form an OPC.
Is a nominee mandatory for an OPC?
Yes. A nominee with written consent must be named when the OPC is registered.
Can an OPC be converted into a private limited company?
Yes. An OPC can convert into a private or public company by following the conversion process.
How many OPCs can one person form?
A person can be a member of only one OPC at a time.
How BuyGenix Solutions helps
We help you choose the right structure, prepare and file the registration, and set up the registrations an exporter needs next, such as GST, IEC and MSME Udyam. BuyGenix members can also see live buyer requirements from importers in India and abroad.
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