Company Name Reservation

Director Identification Number

Digital Signature Certificate

MOA & AOA

PAN & TAN

Guidance to open local Bank Account

Includes Government & Professional Fees

Under the Companies Act, One Person Company in India was introduced in 2013 to support entrepreneurs who are capable of starting a venture by allowing them to create a single person economic entity. One of the massive advantages of a One Person Company (OPC) is that there can be only one member in a OPC, while a minimum of two members are required for maintaining and incorporating a Limited Liability Partnership (LLP) or a Private Limited Company. A 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.

Though a One Person Company allows a lone Entrepreneur to operate a corporate entity with limited liability protection, a OPC does have a few limitations. For example, every One Person Company (OPC) must nominate a nominee Director in the MOA and AOA of the company – who will become the owner of the OPC in case the sole Director is disabled. One Person Company must be reconstructed into a Private Limited Company if it crosses an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of every Financial Year like all types of Companies. Therefore, it is important for the Entrepreneur to precisely consider the features of a One Person Company prior to incorporation.

VolksPhantom is the market leader in company name registration services in India, offering a variety of company registration like one person company registration, private limited company registration, Nidhi Company Registration, Indian Subsidiary registration, Producer Company Registration and Section 8 Company Registration. It takes around 10-15 working days to complete a one person company, subject to government processing time and client document submission. Get a free consultation for business setup and one person company registration in Delhi by scheduling an appointment with an VolksPhantom Advisor.

The idea of an OPC is very recent in Indian entrepreneurship and thus very radical, it will take time for such a new concept to be incorporated with complete ability, and when the time will pass, OPC will have a sparkling future and it will be embraced as a most successful business concept. The reason behind it is the incorporation of same is less paper work, one person can form a company without any additional shareholder, and if the member is willing to add stockholders, all he needs to do is to modify the Memorandum of Association and file it before Roc.

Small entrepreneurs will grow in Indian entrepreneurship, be it weaver, traders, artisans, small to mid level entrepreneurs, OPC is a bright future for them to grow and to get a recognition globally. External financier will be dealing with one representative to build a corporate relationship and not with a score of shareholders/directors where there are more chances for disparity in Ideas, concepts etc for a business to grow.

Any foreign company who wishes to set up in India through an Investment, through a merger or through a Joint venture will have to just lock the deal with the representative  of an OPC, and the venture will be expected to start sooner with more effective results. In upcoming years the impact of an OPC will be extraordinary and it is a promising future for Indian Entrepreneurship.Hopefully, there will be good Joint Ventures, Foreign Investments, and Mergers etc. An OPC is doing well in United States, In European Countries, Australia the same is resulting in strengthening the economy of the countries.

In India when the expert committee of Dr. Jamshed Jiji Irani projected the idea of an OPC, it was only aimed for the structured business, with a different legal entity altogether and to organize the private sector of the entrepreneurship, which indeed is expected to be done, along with a compelling growth in Indian Economy benefiting the country on the Global Level.

Volks Phantom is building one of India’s largest financial services marketplace for SMEs and Startups. We understand the financial needs of startups, right from Company Registration to Fundraising, Debt Financing to Investor Relations Management and managing Government Compliances. To help SMEs and Startups start, manage and grow their business, we have a panel of Chartered Accountants (CAs) from across India. We bring you all of the services that a SME startup requires such as Registration, Trademark, ISO, FSSAI License, Startup India Registration, Loan Syndication, Insurance, GST Registration and Returns and everything at one place.