One Person Company or OPC means a company which has only one person as a member. OPC has all benefits of a private limited company such as protecting personal assets from business liability, separate legal entity and perpetual succession. One Person Company (OPC) is a Company registered with ONLY ONE PERSON as its shareholder. An OPC is classified as a private company under Companies Act.
A One Person Company can have owned by Only a natural person who is Resident in India and Citizen of India. No corporate entity can be as shareholder (owner) of a One Person Company.
There is no minimum paid up capital restriction for One Person Company but the maximum capital is restricted to Fifty Lakhs and maximum turnover can be only Two Crores. If any of these conditions ie maximum capital or maximum turnover is crossed, One Person Company is required to get convert itself into a public company or a private company.
One Person Company is not allowed to take any partner (Shareholder) within two years from the date of registration. After completion of two years, it can be converted into a regular private limited company by adding a shareholder. If the OPC is crossing the maximum limit criteria, it have to convert as mentioned above
The transparent process followed by companiesinn made the One Person Company registration very simple and hassle free. The technology integration into the registration process and experts in the advisory and processing team with several years of experience made the OPC registration process and further support a boost for the startup entrepreneur in the beginning of his/her entrepreneurial journey.
You can try our free incorporation tool. You will be directed to e-lawyering interview (online legal document creation process). Attend interview by answering questions. You can even email each one of the interview forms to you other partner for filling information
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