One Person Company
It is incorporated only as a private company which has only one member.
Any natural person (should not be minor) who is an Indian citizen whether a resident in India or not i.e. NRI shall be eligible to incorporate a One Person Company and appoint nominee of an OPC
Basic Mandatory Compliance
At least one Board Meeting in each half of the calendar year and the time gap between the two Board Meetings should not be less than 90 days
Maintenance of proper books of accounts
Statutory audit of Financial Statements. Filing of business income tax returns every year before 30th September.
Members and Directors in an OPC
The minimum and maximum number of members in an OPC can be only one.
The minimum and maximum number of directors in an OPC can be one (1) and fifteen (15) respectively.
OPC Limited by Shares
OPC Limited by Guarantee with Share Capital
OPC Limited by Guarantee without Share Capital
Unlimited OPC with Share Capital
Unlimited OPC with Share Capital.
Benefits of One person company
a separate legal entity, like a person with its own rights & authority. Incorporate now for perpetual success & common seal.
with own identity & property. Members have no insurable rights to company assets.
one member holds all shares, separate legal entity. Liability only up to member's investment in business.
Transferability of Shares:
no share transfer allowed as it changes the entire structure of the company & its ownership.