What is One Person Company Incorporation Overview

A new concept has been introduced in the Company’s Act 2013, about the One Person Company (OPC).

Earlier, In a Private Company, a minimum of 2 Directors and Members are required whereas in a Public Company, a minimum of 3 Directors and a minimum of 7 members. This prevented a single person from running a company. But now as per Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. It is a form of a company where the compliance requirements are lesser as compared to a private company.

Documents Required For One Person Company Incorporation

• Copy of PAN Card of shareholder
• Passport size photograph of the owner
• Copy of Aadhaar Card/ Voter identity card
• Copy of Rent agreement (If rented property)
• Electricity/ Water bill (Business Place)
• Copy of Property papers (If owned property)
• Landlord NOC (Format will be provided)

Benefits Of One Person Company Incorporation

• Limited Liability Protection to Director’s personal assets
• Better image and credibility in Market
• Easy to raise funds and loans
• Helps for Testing of Business Model and Enables Funding
• Complete Control of the Company with a Single Owner
• Easy to Sell OPC
• Reduce compliance as compared to other corporate forms of operation