“One Person Company" or "OPC" shall be mentioned in brackets below the name of such company, wherever its name is printed, affixed or engraved. For Example. ABC Consulting Private Limited (OPC).
Directors are responsible for planning and execution of company policies and are involved in decision making. To register a one person company, there should be a minimum of one director.
Shareholders are the owners of the company, and they hold shares in the company. The companies' law in India requires a minimum of 1 shareholder to register a one person company. It also provides that the shareholder can also be director of the One Person Company.
Only a natural person can form a One Person Company. A private company or an LLP can NOT start an OPC. The member should also be a resident on India.
The member of the OPC shall nominate a person, who shall, in the event of the subscriber’s death or his incapacity to contract, become the member of that One Person Company. A minor can NOT be a member or a Nominee.
One Person Company shall not be entitled to continue as a One Person Company if-
1.When the paid up share capital of an One Person Company exceeds Rs 50 lacs or
2.If its average annual turnover during the preceding 3 financial years exceeds Rs 2 cr.
1. PAN Card copy of the Shareholder & Nominee
2. ID Proof of Shareholder & Nominee– Voter’s ID, Passport, Driver’s License or Aadhar Card
3. Address Proof Shareholder & Nominee – Bank Statement, Electricity Bill or Telephone Bill
4. Address Proof of place of Business – Bank Statement, Electricity Bill or Telephone Bill
5. Rental Agreement in the Name of the Company
P.S. - Address Proof should not be older than 2 months