One Person Company

A new kind of business entity called a "one person company" enables a sole proprietor to run a corporation with some liability protection. Giving a single promoter complete authority over the company while restricting his or her liability to contributions to the business, the corporation was introduced by the Companies Act 2013 as an enhancement over the sole proprietorship. The sole shareholder and director will be this person. A nominated director exists, but they have no authority until the original director becomes unable to sign contracts. An OPC must convert into a private limited company or public limited company within six months if its average three-year turnover exceeds Rs. 2 crore or its paid-up capital exceeds Rs. 50 lakh.

Eligibility to form OPC:

• It's important to note that the following information is subject to change without notice. A nominated member is someone who will join the company in the case that the promoter member passes away or becomes incapacitated.
• To incorporate a One Person Corporation or serve as a nominee member, a natural person must be an Indian citizen and resident of India. Moreover, the Director or Candidate must be at least 18 years old. Up to five One Person Businesses may be incorporated by one individual.

Supporting Your On-Going Business:

• We can file your TDS & GST returns.
• keep track of your accounts, and provide you with periodic progress reports at the end of each month. We can also compile and submit your income tax returns.

Documents Required For One Person Company:

Identity Proof of director and nominee director:

Self-attested scanned copies of both the nominee's and the director's PAN cards - Foreign residents and NRIs cannot create OPCs.

Address Proof of partners (Any One):

• Passport
• Driving license
• Aadhaar card
• Bank statement (less than 2 months old)

Registered Office Address Proof:

• A rental contract OR a sale or registration deed (if owned)
• No objection certificate from the landlord for using the property as a registered office;
• a copy of a recent utility bill (electricity/water); or a property tax receipt (for rented offices)

The fundamental requirements for compliance are:

• Keeping accurate books of accounts;
• Statutory audits of financial statements;
• filing annual ROC returns that include form MGT 7;
• Keeping accurate books of accounts;

What You Have Now:

• DIN for one director.
• Digital signature token for director and nominee.
• MoA & AoA (Memorandum of Association & Articles of Association),
• Incorporation Certificate from MCA with CIN (Corporate Identity Number),
• Company PAN card,
• Company TAN number,
• and all supporting documents for opening a bank account.

We Can Support Your Business Startup:

• We can file your TDS & GST returns,
• keep track of your accounts, and provide you with periodic progress reports at the end of each month. We can also compile and submit your income tax returns.