What is One Person Company (OPC) Registration?

The One Person Company (OPC) in recent times was launched as a good refinement over the sole proprietorship. In OPC, a single promoter gains full authority over the company thereby restricting his/her liability towards their contributions to the enterprise. Therefore, the said person will be the sole shareholder and director (however, a director nominee is present, but has zero power until the real director proves incapable of getting into the contract). Also, there can be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC company has an average hattrick turnover of Rs. 2 crores and over or acquires a paid-up fund of Rs. 50 lakh and over, it has to be converted to a private limited company or public limited company within six months.

Documents required for OPC Registration

The director of the OPC should submit the scanned transcripts/ copies of the following documents mandatory for OPC registration-

• PAN card or Passport
• Passport, for NRIs and Foreign Nationals
• Scanned transcript of Driver's License or Voter’s ID
• Updated gas or electricity invoice/Bank account Statement/Mobile or landline phone invoice
• Specimen signature or impression
• passport-sized photo

Please Note: The first 3 documents should be self-attested by the OPC director. All the documents for a foreign national or an NRI must be notarized (if residing in India or a non-Commonwealth country at present) or apostilled (if living in a Commonwealth country at present).

Documents Necessary For The Registered Office

• Scanned transcript of Current Bank Account Statement/Phone or Mobile Invoice/Gas or Electricity Invoice)
• Scanned transcript of  in the English language Rental Agreement written
• Scanned transcript of N-O or No-objection Certificate from the concerned property landowner

Note: Your office space which is registered needs to be a commercial area; however, it can be your house of residence as well