One Person Company Registration

Any natural person above the age of 18 years & holding DIN can become a director in the company. Even a foreign national can also become a director

Yes, OPC can have more than 1 director

No, OPC can have only one member

A Minor, Foreign citizen, Indian Non-resident, a person incapacitate to contract are restricted from Forming a One Person Company. However, Budget 2021-22 has amended this condition. Now, Non Resident Indians can also form a One Person Company.

No, FDI is not allowed for One Person Company, if it does then it will lose its very nature of One Person Company

Any person related to member of OPC or even an unrelated person can be appointed as nominee of an OPC. Such nominee should hold proper identity proofs such as PAN card, Voter id or Passport or Driving License etc.

On death of member, the nominee appointed by the member shall become the member. The nominee shall take over the activities of the OPC and within 15 days intimate the ROC by Form INC-4 with applicable fees

The nominee of the OPC can be changed at any time by OPC as per the procedure laid down by Companies Act, 2013. Further, the nominee can withdraw his consent at any time to act as such

Member of an existing OPC cannot simultaneously become member of any other OPC. However, the Act has no restriction for an OPC member to become a member of another Private Limited Company

In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into private or public company.

However, Budget 2021-22 has done away with the above restrictions. Now, a One Person Company can grow at its own pace without looking into capital or turnover limits.

The OPC shall be required to file Form INC-5 to ROC within 60 days of crossing the threshold limit

OPC are required to make following compliances every year:-

• Maintenance of proper books of accounts and its audit by qualified auditor
• Filing of Financial Statements in Form AOC-4 and Annual Return in MGT-7 within prescribed time limit
• Submission of Income Tax Return before 30th September of each year
• 2 Board Meetings with a gap of at least 90 days between each meeting

Yes, OPC can be converted voluntarily into Private/Public Company after 2 years of its incorporation. Further, OPC is required to file Form INC-6 for conversion of an OPC into Private/Public Limited Company.

Budget 2021-22 has dispensed with the conditions of 2 years now. 

Documents Required

• Description of proposed business activity in few words
• 4 proposed names for company in order of preference
• Proposed and actual capital contribution
• DIN (Director Identification number) of director (if available)
• DSC (Digital Signature) of director and shareholder
• Self attested PAN Card copy of director and shareholder and nominee
• Self attested ID Proofs of director & shareholder & nominee (Driving License/Voter ID/ Passport/Aadhar Card)
• Self attested address proof of director & shareholder (Utility Bill/ Bank Statement/ Bank passbook copy)
• Passport size color photo of director/nominee in JPEG format

Documents for proposed registered office:

• NOC from owner of premises or
• Rent/ Lease agreement (if leased/ rented)
• Utility bill in name of owner not older than 2 months

Other Info. of directors & shareholder :

• Mobile no. and email id of director and shareholder
• Occupation and educational qualification, place of birth and nationality