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 than that of a ONE PERSON company. One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate. Only a natural person who is Indian Citizen and resident in India can incorporate OPC.

Documents and information required for setting up ONE PERSON Company
• Digital Signature Certificate of Director/Shareholder
• Self attested copy of PAN of all Director/Shareholder
• Self attested Copy of Passport/DL/Voter ID of all Director/Shareholders
• Latest Bank statement of all Directors/Shareholders
• Object of the Company
• Capital of the Company
• Affidavit and Declaration by first subscriber and director
• Signed DIR-2 (Consent to act as a Director)
• Proof of Registered office of the Company
• Consent letter of Nominee

Brief Procedure for Registration of a ONE PERSON Company

Step 1:- Obtain Digital Signature of the proposed Directors of the Company. Digital signature is required for signing of the incorporation application (Spice Form)

Step-2:- Reserve a unique fresh name by making an application in Online web service i.e. RUN on the MCA portal. Please note reserved name is valid till 20 days from the approval date.

Step-3:- Drafting of Memorandum of Association (“MOA”) and Article of Association (“AOA”).

Step-4 :- File Single Application for Incorporation of Company, along with consent of such nominee obtained in Form INC – 3 with all necessary attachment with the MCA.

Step-5:- After getting Certificate of Incorporation, Open Current Account in bank and deposit the subscribed amount of MOA in the Bank Account.

Step-6 :- File e-form INC-20A (Declaration for commencement of business) with MCA within 180 days from the incorporation date along with Bank statement of the Company.

Step-7 :- File form DIR-12 for reporting of registered office of the Company, if proof of registered office not submitted in Spice form.
Step-8: Conduct the first board meeting of the Company within 30 days of Incorporation.

Frequently Asked Questions

Q. Can a director and shareholder be different in a one person Company?
Yes, the Director and the shareholder can be different persons in a One person Company.

Q. What time it takes to incorporate a One Person Company?
If correct and requisite documents are submitted in Spice-32, usually it takes 4-7 days for company to be incorporated.

Q. How do I obtain PAN/TAN and GST registration after the company is incorporated?
The PAN, TAN and GST of the Company is received along with the Certificate of incorporation of the Company. Now no separate application is required for obtaining these statutory documents.
Q. Do I need to open a current account separately after registration of Company?
You can select your choice of Bank in AGILE Form while filing application for registration of Company. Once the company is incorporated, bank officials will contact for opening of bank account.
Q. What are the compliances to be done after registration of Company?
The company has to do following compliances after registration:
 Convene a Board meeting within 30 days of incorporation
 File ADT-1 within 30 days of incorporation
 File INC-20 A (Commencement of Business) within 180 days
 File Director KYC form after April 01 of the current financial year