Incorporating One Person Company in India
By Team Legistify / 2016-04-07
An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder.

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OPC or ‘ One Person Company ’ is defined in part 2(62) of the Corporations Act, 2013 as a corporation which has only one individual as a member. In line with part 2(sixty-eight) of the Act, it is the subdomain of an exclusive company.

Who Can incorporate OPC?

In line with Rule 3 of the corporations (Incorporation) principles 2014, simplest a natural individual who's the citizen and resident of India can-
contain one man or woman enterprise and as well as might be a nominee for the only member of a one-individual company.

Aspects of OPC

  • Minimum paid-up share capital is 1 lakh.

  • OPC can both be a corporation restricted by share/company restricted by guarantee or a limitless organization.

  • The phrases ‘one man or woman company’ need to be acknowledged in brackets beneath the title of one person enterprise, for example- Srivastava organization Ltd (One person manufacturer)

  • One man or woman organization must mention the title of the nominee/different character within the memorandum of association, with his prior written consent and the identical should be filed with the registrar on the time of incorporation.

  • Maximum Director- 15, minimum Director- 1.

  • OPC don't need to maintain AGM ( Annual basic assembly)

  • Registrar should be informed about all the contracts entered via the OPC.

An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder.

Have a Legal Issue?

Get connected to the Best Lawyers and Chartered Accountants Near You!


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