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One Person Company Registration
A One Person Company (OPC) registration allows an individual entrepreneur to create a single-member corporate entity, which combines the benefits of both sole proprietorship and corporate structure. This type of company is designed to encourage individual entrepreneurship by providing limited liability protection while simplifying compliance requirements. By registering an OPC, the sole owner can enjoy the advantages of a separate legal entity, perpetuity, and ease of raising funds, while maintaining complete control over the business operations.
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Benefits of One Person Company Registration
- Limited Liability Protection: As an OPC, the owner's liability is limited to their investment in the company. This means personal assets are protected from business debts and liabilities, providing a safety net for the entrepreneur.
- Separate Legal Entity: An OPC is considered a separate legal entity from its owner. This distinction allows the company to own property, enter into contracts, and conduct business in its own name, enhancing credibility and professionalism.
- Perpetual Succession: An OPC continues to exist even in the event of the owner's death or incapacity. The nominee director, appointed during registration, takes over the company’s operations, ensuring business continuity.
- Ease of Management: OPCs have simpler compliance requirements compared to other corporate structures. The administrative burden is lower, with fewer regulations and formalities to adhere to, making it easier to manage.
- Enhanced Credibility: Having an OPC can enhance the business's credibility and attract more clients, investors, and partners. The corporate structure often instills greater confidence in stakeholders compared to a sole proprietorship.
- Tax Benefits: OPCs may be eligible for various tax deductions and benefits available to private limited companies. This can result in substantial tax savings compared to individual taxation.
- Greater Access to Funding: As a corporate entity, an OPC can access a broader range of funding options, including bank loans and venture capital, which may not be as readily available to sole proprietorships.
How to Register your One Person Company with Us?
Registering for One Person Company with us is simple and easy. Just follow these steps:
- Step 1: Fill up our online enquiry form with your basic details such as name, email, phone number.
- Step 2: Complete the payment online or you can Contact Us to get more information.
- Step 3: You will need to provide us with the necessary documents for One Person Company registration. You can send them via email info@taxdoctorconsultant.com or WhatsApp: +91-9953179605
Comprehensive Guidance and Consultation
At TaxDoctorConsultant Pvt Ltd, we make the process of registering a One Person Company (OPC) online simple and stress-free. Here’s how we assist you: Our team of experts provides thorough guidance on the entire OPC registration process. We help you understand the requirements, benefits, and obligations, ensuring you make informed decisions every step of the way.
Document Preparation and Verification
We assist you in preparing and verifying all necessary documents, including identity proof, address proof, and proof of registered office. Our meticulous approach ensures that all documents meet the regulatory standards, minimizing the chances of rejection.
Digital Signature Certificate (DSC) and Director Identification Number (DIN)
We help you obtain the required Digital Signature Certificate (DSC) and Director Identification Number (DIN) swiftly. Our streamlined process ensures that you have these essential digital tools ready for the registration process.
Name Approval Assistance
Choosing a unique and compliant business name can be tricky. We assist you in reserving a suitable name for your OPC, handling the SPICe+ Part A form submission, and ensuring your preferred name gets approved by the Ministry of Corporate Affairs (MCA).
Filing the SPICe+ Form
Our experts handle the filing of the SPICe+ form (INC-32) along with eMoA (INC-33) and eAoA (INC-34) for incorporating your OPC. We ensure that all details are accurately filled to avoid any delays in the approval process.
Post-Incorporation Compliance
Once your OPC is registered, we guide you through the necessary post-incorporation compliances. This includes filing Form INC-22 (if needed) and obtaining additional registrations like GST, Professional Tax, and Shop & Establishment License as required.
Ongoing Support
Our support doesn’t end with the registration. We offer ongoing assistance to ensure your OPC remains compliant with all legal and regulatory requirements. From annual filings to tax advisory, we are here to support your business journey.
With TaxDoctorConsultant Pvt Ltd by your side, you can be assured of a smooth and efficient OPC registration process. We take care of the complexities so you can focus on building your business.
How We Can Help You
- Name Availability Check: We can help you check the availability of the proposed name of your company and suggest you the best and most suitable name for your business.
- DSC and DIN Application: We can help you obtain the digital signature certificate and director identification number for the proposed directors and shareholders of your company in a quick and hassle-free manner.
- SPICe+ Form Filing: We can help you fill and file the SPICe+ form (INC-32) on the MCA portal with all the required documents and information. We can also help you file the MOA, AOA, and declaration forms online or offline, as per your preference.
- Expert support: We provide 24x7 days expert support via phone, email, and chat. You can reach out to us anytime for any query or issue.
-List of Documents Required for One Person Company Registration-
- Identity Proof - Passport, Aadhaar card, Voter ID, or Driver's License of the owner.
- PAN Card - Permanent Account Number (PAN) card of the owner.
- Address Proof - Utility bills or bank statements.
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Proof of Registered Office
-If the property is owned: Any utility bill like an electricity bill or corporation tax receipt not older than 30 days.
-If the property is rented: Rental agreement or No Objection Certificate (NOC) from the owner. - Bank Account Details - Proof of a bank account in the name of the business.
- Nominee Director Documents - Identity Proof, Address Proof and consent from the nominee director
FAQ's on One Person Company Registration
An OPC is a type of company that can be formed with just one person as its member and director. It combines the benefits of a sole proprietorship and a private company, offering limited liability and perpetual succession.
Only a natural person who is an Indian citizen and resident in India can incorporate an OPC. The person should not be a minor.
Single Ownership: Only one person can be the member and director.
Limited Liability: The member’s liability is limited to the amount invested in the company.
Perpetual Succession: The company continues to exist even if the member dies or becomes incapacitated.
Separate Legal Entity: The OPC has a legal identity distinct from its member.
Fewer Compliance Requirements: OPCs have fewer regulatory and reporting requirements compared to private or public limited companies.
Yes, it is mandatory to appoint a nominee at the time of incorporation. The nominee will take over the company in case of the member’s death or incapacity.
If the paid-up share capital exceeds ₹50 lakh or the average annual turnover exceeds ₹2 crore, the OPC must convert into a private or public company.
Yes, an OPC can be voluntarily converted into a private or public company by passing a special resolution and filing the necessary forms with the Registrar of Companies (ROC).
Yes, an OPC cannot carry out Non-Banking Financial Investment activities, including investment in securities of any body corporate. Additionally, an OPC cannot be incorporated or converted into a Section 8 Company (a company licensed for charitable or not-for-profit purposes).
An OPC must file its annual financial statements and returns with the ROC. The director of the OPC must also sign the financial statements and have them audited by a certified auditor.
No, an OPC cannot issue shares to the public. The OPC is a privately held entity, and the shares cannot be traded on the stock exchange.
An OPC is taxed as a private company. The tax rate for domestic companies is applicable to OPCs, which includes corporate tax, Minimum Alternate Tax (MAT), and other applicable taxes.