ONE PERSON COMPANY REGISTRATION

1. Must have minimum 1 director along with only 1 shareholder
2. At least one director must be resident of India.
3. Shareholder and nominee of OPC must be resident of India.
4. No limit on minimum capital requirement but authorized capital must be Rs. 1 lakh.
5. Unique Name of the one person company
6. Digital signatures and DINs for all the directors

• Name should not be offensive or illegal.
• Must contain the word “(OPC) Private Limited” at the end of the name.
• Should not be similar or identical to an existing company, business or trademark.
• Name of OPC should be suggestive about the business.

Some other guidelines for picking up a name of OPC are also issued by MCA.

OPC will be considered as Private Limited Company for all purposes except it enjoys following exemptions and relaxations in compliances as provided by the law-

1. OPC does not required to include cash flow statement as part of its Financial Statement.
2. OPC Needs not to hold annual general meeting.
3. Concept of rotation of auditor does not apply to OPC.
4. Financial statement and Annual return can be signed by one director.

In case the paid up share capital of an OPC exceeds Rs. 50 lakhs or its average annual turnover of immediately preceding three financial years exceeds Rs. 2 crores, then OPC is required to get it convert into a private or public limited company.

Post Incorporation and Regular Compliances:
OPC is required to fulfill the below requirements once after registration-

1. PAN and TAN Application
2. Bank Account
3. ESI registration is mandatory by law if OPC has more than 10 employees.
4. GST registration subject to Minimum threshold Limit for GST registration
5. TDS Returns are to be filed quarterly if OPC deducts TDS.
6. GST returns are to be filed regularly if GST registration is obtained.

Annual Compliances:
OPC is required to fulfill the below requirement annually irrespective of the fact whether OPC has started its operations or not-

1. Minimum 2 Board Meetings as prescribed by Companies Act 2013
2. Maintain Proper Books of Accounts
3. Appointment of Auditor
4. Statutory Audit by a practicing chartered accountant
5. Income Tax Return
6. Annual Filings (Form AOC-4 for Financial Statement and Form MGT-7 for Annual Return) to Registrar of Companies.

However Tax audit may be applicable on the basis of turnover and other criteria specified by Income Tax Department.