One Person Company Registration

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One Person Company Registration

Dr. Jamshed. J. Irani in his report on Company Law dated 31st May 2005 introduced the concept of One Person Company in India.

In the report, Dr. Irani recommended that with the ever-increasing use of Information Technology and the emergence of a strong service sector in India it was bound for the government to empower the entrepreneurs who are capable of creating innovative ideas and participating in the marketplace.

Dr. Irani suggested that innovative entrepreneurs must not be made to do through an association of persons and should be able to create a single person economic entity in the form of One Person Company.

Checklist to Start a One Person Company

Process of One Person Company Registration

Single Shareholder

Register your One-Person Company with just a single individual to act as the initial director/shareholders. However, another individual to be nominated as the nominee of a single shareholder of the company.

Resident Director

An OPC may have up to 15 Directors, However one director of the company should be resident in India. A Person is known as a Resident Indian when he/she stays in India for over 120 days during the previous financial year. Citizenship is immaterial for this purpose.

Registered Address

For registration of the company, you need to submit the proof of Registered Office & NOC from the owner. You may register a company on a communication address in case of difficulty; however, within 60 days, the company must have its registered address.

Capital Requirement

Invest as per the business's requirement, & as such, there is no prescribed minimum or maximum capital. However, the ROC Fee and the Stamp Duty are calculated on the authorized capital and the location of the registered office of the company.

New & Unique Name

The name of the proposed new company must be unique and eligible, in view of name guidelines as prescribed under section 4 of the Companies Act, 2013. If you need help, please contact us, we would help in deciding the name of your startup.

List of Documents Required Registration of OPC

Good documentation for the registration of OPC plays a vital role & results in faster incorporation of the company. There are three kinds of documents that are used to incorporate a One Person Company. Please submit self-attested copies of documents that are clear and valid.

Documents For Director/Shareholder

Passport Size Colour Photograph

Self-attested Pan Card

Self-attested Aadhar Card

Address Proof
• Telephone,
• Gas Bill,
• Electricity Bill,
• Bank Statement

Identity Proof
• Passport,
• Voter ID,
• Driving License

Documents For Registered Address

Proof of Premises
Telephone, Electricity, Water Bill
NOC From Owner

Legal Forms and Declaration

Consent of Directors in Form DIR-2
Specimen Signature of Directors
Signed Subscriber Sheet (On case to case basis)

Income Tax Rate for OPC in India

The income tax for companies ranges from 15% to 30%, depending on the case. There are two categories of companies as mentioned below.

A. Newly Incorporated Company: A company incorporated on or after 1st October 2019, and that does not claim any other concession, deduction, exemption under the income tax act, the tax rate is as under

Particulars	Manufacturing Company	Other Company
Tax Rate	15%	22%
Surcharge	10% on tax	10% on tax
Cess	4% on tax & cess	4% on tax & Cess
Effective Rate	17.16%	25.168%

B. For other companies: the income tax rate is 25% in case the turnover is less than 400 Crores and 30% in all cases where the turnover is more than 400 Crores. The Surcharge and education cess at applicable rate is charged in addition to the basic income tax rate.

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