One Person Company Registration

FAQs

• Why should I form an OPC?
  One Person Company is the best-refined form of a Sole Proprietorship. OPC can be run by a single entrepreneur who does not have any other business partner. OPC provides limited liability which means the owner will be liable only to the limit of the amount he/she has invested in his business. He will not be personally liable. Unlike a sole proprietorship, where the business ceases after the death of the proprietor, the OPC never ceases as after the owner the nominee person can take over the entity.
• Who can register for an OPC?
  As per the Companies Act 2013, the registration can only be done by an Indian Citizen whether Resident in India or otherwise (W.e.f – 01/04/2021 Non Resident Indians (NRI) are eligible to register One Person Company in India).
• What are the mandatory requirements of an OPC?
  An OPC must maintain books of accounts, comply with statutory audit requirements and submit annual filings and income tax returns with the ROC.
• How much capital is required to start an OPC?
  No minimum amount of investment is required.
• What are the tax advantages available to an OPC?
  No specific advantage, Industry-specific advantages are present.
• Can I start more than one OPC at a time?
  No, an individual can form only one OPC at a time. This rule applies to the nominee in an OPC, too.
• How many directors can thereby in an OPC?
  An OPC can have more than one director apart from the promoter himself.
• Does one have to be physically present during incorporation?
  No, you need not be present while incorporation. Kudos Startup is a platform for online OPC registration.
• What is the validity of OPC Registration?
  The company will remain active as long as all the compliance are duly met and done. Otherwise, the OPC company will be dormant and struck off from the ROC register.