What is One Person Company Registration?
One Person Company is a company that comprises a single person as a shareholder and can be contrasted with private companies. It means a company formed with only one person as a member unlike the traditional manner of having at least two members. These companies get all the benefits of a private company such as they have access to credits, bank loans, limited liability, legal protection, etc.
What are the Feature of One Person Company Registration?
- Private company
- As per the provisions of Section 3 of the Companies Act a single person can form a company for any lawful purpose. It further describes OPCs as private companies. OPCs can have only one member or shareholder, unlike other private companies.
- No perpetual succession
- Since there is only one member in an OPC, member’s death will result in the nominee choosing or rejecting to become its sole member. This does not happen in other companies as they follow the concept of perpetual succession.
- No. of director
- OPCs need to have minimum one person (the member) as director. They can have a maximum of 15 directors.
- No minimum paid-up share capital
- Companies Act, 2013 has not prescribed any amount as minimum paid-up capital for OPCs.
- Special privileges OPCs enjoy several privileges and exemptions under the Companies Act that other kinds of companies do not possess
What documents are required for OPC Registering in Delhi India?
- Passport size photograph of all Directors
- Identity Proof – PAN Card, voter ID, adhaar cardof the proposed Directors of the Company
- Address Proof – Electricity bill, bank statement, mobile bill not older than two months
- The registered document of the title of the premises of the registered office in the name of the company; OR The notarized copy of lease / rent agreement in the name of the company.
- The No Objection from the Landlord, to use the premises by the company as its registered office; AND
- Proof of evidence of any utility service like telephone, gas, electricity, etc. depicting the address of the premises in the name of the owner or document, which is not older than two months.
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