At Evolix, we specialize in simplifying the OPC registration process, ensuring that entrepreneurs can smoothly navigate the complexities of legal formalities. Our experienced team is dedicated to assisting you at every step, from document preparation to filing, we offer expert guidance to help you make informed decisions regarding your OPC setup.

One Person Company (OPC) registration in India was introduced as a concept under the Companies Act of 2013, enabling a single individual to establish a company and enjoy the combined benefits of both a sole proprietorship and a traditional company structure. This concept became available with the implementation of the Companies Act in 2013.

The primary objective behind creating one-person companies was to foster entrepreneurship and encourage the formalization of Micro, Small, and Medium Enterprises (MSMEs). According to Section 2(62) of the Companies Act 2013, a company can be formed with just one director and one member, and interestingly, these roles can be held by the same individual.

• Legal Standing : The member grants the OPC registration a separate legal entity status. The sole person who incorporated the OPC is protected by its distinct legal status. The member is not personally liable for the company's loss; instead, his or her liability is limited to the value of the shares that he or she owns. Therefore, the OPC and not the member or director may be sued by the creditors.
• Easy Access to Funding : One person company registration in India can easily raise money through venture capital, angel investors, incubators, and other sources because it is a private company. Getting money is now simple.
• Less Conformity : One person company registration is given some exemptions from compliance requirements under the Companies Act of 2013. The OPC is not required to prepare the cash flow statement. The secretary of the company is not required to provide any annual reports and maintain any account books.
• Easy Integration : And one person company in India can be easily integrated without any legal hassles. A member also serving as a director should provide the approval for integration. There is no minimum paid up capital requirement.
• Easy to Manage : Administration of the OPC can be made simple by allowing a single person to both find and lead it. Making decisions is straightforward, and it happens quickly. The member can easily pass both ordinary and special resolutions by writing them down in the minutes book and getting just one other member to sign them. Because there won't be any internal disputes or delays, managing the company will be easy.
• Constant Repetition : The OPC has the function of perpetual succession even with only one member. A nominee must be chosen by the single-member when incorporating the OPC. The candidate will take over operation of the company in the event that a member passes away.

• Maximum and minimum membership requirements must be met
• There should be a nominee chosen before incorporation
• Use Form INC-3 to request the nominee's approval
• The Companies (Incorporation Rules) 2014 mandate that the OPC name be selected
• Minimum authorised capital of ₹1 Lakh
• DSC of the potential director
• Evidence of the OPC's registered office.

• Step 1: Check the eligibility and documentation
• Step 2: Request DSCs and DINs for each director
• Step 3:  Submit a request for a name reservation Form Spice+ for company incorporation
• Step 4: Apply for PAN and TAN for your new business
• Step 5: RoC issues an incorporation certificate with a PAN and TAN
• Step 6: Open a bank account and start your business.

The whole process for one person company registration can be completed in a time span of just 20 days. All you have to do is reach out to Vakilsearch and complete the process with no delay.

OPCs must comply with various annual filing requirements with the MCA and the Income Tax Department. These include:

• Filing of Annual Return: OPCs must file their annual return with the MCA within 60 days of the end of the financial year. This return provides information about the company's share capital, directors, and financial performance.
• Filing of Financial Statements: OPCs whose turnover exceeds Rs. 20 lakh or whose paid-up share capital exceeds Rs. 50 lakh must file their audited financial statements with the MCA within 30 days of the annual general meeting.
• Filing of Income Tax Return: As mentioned earlier, OPCs must file their ITR using Form ITR-6 by September 30th of each financial year.

• We submit a name approval application for your OPC Company Registration
• Experts at Evolix will draft the MOA and AOA on your behalf and will file the necessary paperwork with the MCA to be incorporated
• Allocation for PAN and TAN happens simultaneously
• Our team of experts will let you know how your OPC Registration is progressing.
• Basically we have got you completely covered.