A one person company (OPC) means a person which has only one member to run a company. Only a resident of Indian is eligible to start an OPC. The minimum paid capital of OPC is Rs. One lakhThe minimum number of directors in the case of an OPC has been limited to one and maximum of 15 directors. The word 'One Person Company' should be mentioned below the name of the company. OPC may be registered as a private company with one member and at least one director. OPC can get itself converted into a private or public company after increasing the minimum number of members and directors to two or minimum of seven members and three directors as the case may be,
The below categories helps to form an OPC:
Company limited by guarantee.
Company limited by shares
Some of the benefits identified with OPCs are:
OPCs would help the professional and start-up entrepreneurs the much required flexibility in setting up a business in India.
OPCs is also helps the much required freedom to the professional who would like to come out of the shackles of big corporate and be independent.
OPC helps an outlet for the entrepreneurial impulses among the professional
The benefits of limited liability.
Unlike a public limited company or private limited company (listed or unlisted), OPC is need not get too much about compliances.
Minimum Requirements For One Person Company (OPC) :
Minimum Share Capital (INR one lac)
Digital Signature Certificate (DSC)
Director Identification Number (DIN)
Documents Required For OPC:
Address Proof (Voter Id/ Driving License/ Copy of Passport)
Identity Proof (Copy of PAN Card)
Recent Passport Size Photograph
Business Place relation proof as a rent agreement or electricity bills or Noc from landlord.