One Person Company Registration
One Person Company (OPC) Registration – Classic Partners LLP
By Classic Partner – Chartered Accountants & Business Advisors
Meaning
A One Person Company (OPC) is a unique business structure that allows a single entrepreneur to run a corporate entity with limited liability.
Introduced under the Companies Act, 2013, this concept empowers individuals to create a single-person economic entity. The sole promoter enjoys full control as both shareholder and director, while a nominee director (named in the MOA/AOA) ensures continuity in case the original director becomes incapacitated.
Unlike proprietorships, an OPC has a separate legal identity and enjoys credibility with banks, vendors, and institutions. However, if the paid-up capital exceeds ₹50 lakh or annual turnover crosses ₹2 crore, it must be converted into a Private or Public Limited Company.
Reasons to Opt for an OPC
Single Promoter Control – Ideal for entrepreneurs who want complete control with limited liability.
Limited Liability – Personal assets of the promoter are protected from business liabilities.
Perpetual Existence – The company continues to exist even if the promoter exits or passes away (via nominee director).
Higher Credibility – Mandatory audits and corporate status make OPCs more credible for loans and partnerships.
Ease of Transfer – Ownership can be transferred by changing shareholding.
Salient Features
No Annual General Meeting required.
No need to prepare a Cash Flow Statement.
At least one Board Meeting every half-year (90 days apart).
OPC can only be incorporated as a Private Limited Company.
Exempt from several compliance provisions (Sections 98 & 100–111 of Companies Act).
Conversions
Voluntary Conversion
Allowed only after 2 years of incorporation, unless capital/turnover thresholds are crossed earlier.
Conversion under Section 18 & Rule 7(4) of Companies (Incorporation) Rules, 2014.
Compulsory Conversion
Mandatory if:
Paid-up capital ≥ ₹50 lakh, or
Annual turnover ≥ ₹2 crore.
Must convert into a Private Limited or Public Limited Company.
Documents Required
For Directors:
PAN Card / Passport (for NRIs)
Voter ID / Passport / Driving License
Latest Bank Statement / Electricity or Telephone Bill
Passport-sized photograph
Specimen signature
For Registered Office:
Proof of address (utility bill / bank statement)
Rent Agreement or Sale Deed
NOC from property owner (if rented)
Registration Procedure
Apply for DSC & DIN – Digital Signature and Director Identification Number for the sole director.
Name Approval – File with MCA through SPICe (INC-32).
Draft MOA & AOA – State objectives and rules of the OPC.
Certificate of Incorporation – Issued by ROC; serves as proof of existence.
PAN & TAN Application – Issued post-incorporation; mandatory for compliance.
How Classic Partner Helps
At Classic Partner, we offer end-to-end support for OPC setup and compliance:
Advisory on OPC suitability vs Proprietorship/LLP/Private Limited
Filing of SPICe+ (INC-32), eMoA (INC-33), eAoA (INC-34)
Assistance with PAN, TAN, GST, and bank account opening
Guidance on mandatory conversion compliance
Annual audit and ROC filing services
Contact Classic Partner today for expert assistance in One Person Company Registration and compliance advisory.
