One Person Company (OPC) Registration
One Person Company (OPC) means a company which has only one person as a member and registered under companies Act 2013. Only one person is required who can be a shareholder as well as the Director allowing them to create a single person entity. An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. During the incorporation of a one person company, the sole director & shareholder must propose a person as his/her nominee. In case the sole member of a one person company stops to be a member due to death or incapacity to enter into a contract, his/her nominee will become a member of the company.
Documents Required
- ID Proof of director
- Address proof of director
- Photo of director
- Qualification of director
- Valid contact no.
- Valid mail ID
- Residential Address Proof
- Declaration by director
- Name of the company
- Object/ Main Business of the company
- Address proof of company
- Detail of Nominees
Benefits
- Only person Required as Director
- Director shall be Share Holder
- Under control of single person
- Less Registration Cost
- Less Compliances cost
- Separate Legal Entity
- Company can also own property
- Company can be shareholder in other company
- Easy to change the registered office