What is a One Person Company?

A One Person Company (OPC) is a special kind of business where a single person is in charge of everything – they are both the boss and the owner. This idea was introduced by a law called the Companies Act in 2013. In simple terms, it’s like being the captain of your own ship.In an OPC, you can start a company even if you’re the only person involved. You’re the director (the person who makes decisions) and the member (the person who owns the company). This means you have full control over your business, but it also means you have some limits on how much you’re responsible for if things go wrong.

What makes OPC different from other types of companies is that it’s perfect for someone who wants to run a business on their own, and it has fewer rules to follow compared to other types of companies in India. So, it’s like having your own business with less paperwork and fewer people involved.

Application Requirements for Online Company Registration

The eligibility requirements for registering a One Person Company (OPC) includes:

• Indian Citizenship: The person starting the OPC must be an Indian citizen and live in India. If you’re from another country, you can’t register an OPC in India.
• Age Requirement: The person starting the OPC must be at least 21 years old. If you’re younger than that, you can’t create an OPC.
• Nominee: When you’re setting up the OPC, you need to pick someone as a backup. This person is called a nominee and you have to provide their information.
• Minimum Capital: You don’t need a lot of money to start an OPC. You can even begin with just Rs. 1 as paid-up capital. But you should officially register the company with a minimum authorized capital of Rs. 1 Lakh.
• Unique Name: Your company’s name must be special. It shouldn’t be too like names of other companies or trademarks that are already registered in India. Your company’s name should stand out.

Documents Needed to Register a Private Limited Company

• For the Director of the Company:
• A photograph of the director.
• A PAN card.
• An Aadhar card.
• An address proof.
• Proof of identity.
• Mobile no. and Email ID

*Address Proof: You can use documents like a bank statement, electricity bill, telephone bill, or mobile bill. These documents should not be older than 2 months.

**Proof of Identity: You can use documents like a driving license, voter ID card, or passport. Any one of these will work.

• For the Registered Office Address of the Company:
• A recent electricity bill or another utility bill in the name of the owner.
• A rent agreement between the owner and the company promoter, OR
• A No Objection Certificate (NOC) from the owner if the owner is also the company’s promoter.