One Person Company a new company structure, contains the benefits of sole proprietorship and corporate status. It has only one member, as the Member cum Director and a nominee.

One Person Company can be registered like Private Limited Company, where all the rules and regulation are laid down by the Ministry of Corporate Affairs.

The minimum capital requirement is Rs. 1,00,000/- but this amount differ from your investment. Authorised capital and investment are not one and the same. You can invest as many as you can, but when you want to incorporate a company legally, it has to be started with Rs. One lakh as capital.

A minimum of one is required while starting a One Person Company, but you can have up to 15 Directors for your OPC.

Nominee can be anyone, such as your spouse, father, mother, daughter, brothers, sisters etc., but they should hold proper identity proofs such as PAN card, Voter id or Passport or Driving License etc., in order to be appointed as Nominees for One Person Company.

A Director is the person who manages and control the affairs of the company. A Director is the brain of a Company. They occupy a pivotal position in the structure of the company. Directors take the decision regarding the management of a company collectively in their meetings known as Board Meetings.

A Nominee can be changed with the proper intimation and filing of necessary forms with Registrar of Companies

No, you are not allowed to form more than one OPC and nominee in your company cannot be appointed as nominee in any other One Person Company.

No, FDI is not allowed for One Person Company, if it does then it will lose its very nature of One Person Company.

A Minor, Foreign citizen, Indian Non resident, a person incapacitate to contract are restricted from Forming a One Person Company.

If the member dies, the nominee undertakes the affairs of the company and within 15 days of time, the company has to intimate the Registrar of Companies by filing Form INC-4 with prescribed fee.

Yes, it can be converted into Private Limited Company, if the One Person Company has exceeded the threshold limit by filing necessary forms.

No, a One Person Company does not required to hold Board meeting like Private Limited Company, but it has to hold Board Meeting once in every half year calender, the gap between the two Board Meeting shall not be less than 90 days.

No, a One Person Company exempted from holding Annual General Meeting.

One Person company can convert itself to Private Company, when the paid up capital exceeds Rs. 50 lacs or its average turnover exceeds Rs. 2crores for the relevant period.

Name reservation: Form INC-1 shall be filed for name availability.
Incorporate OPC: After name approval, form INC-2 shall be filed for incorporation of the OPC within 60 days of filing form INC-1.
Form DIR-12 shall be filed along with (linked) form INC-2 except when promoter is the sole director of the OPC.
The company shall file form INC-22 within 30 days once form INC-2 is registered in case the address of correspondence and registered office address are not same.

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