One Person Company (OPC) Registration

OPC Registration

A One Person Company (OPC) offers the benefits of both a sole proprietorship and a company, providing complete control with limited liability protection. TaxMyles offers expert services for OPC registration, ensuring a smooth and efficient process:

  • Seamless OPC registration – We manage the entire registration process, ensuring it’s quick and hassle-free.
  • Document preparation & filing – We take care of drafting and submitting all necessary forms and agreements.
  • Support for DSC & DIN – We help secure the Digital Signature Certificate (DSC) and Director Identification Number (DIN) for directors.
  • Financial & tax advice – Receive tailored advice on financial structuring and tax strategies.
  • Regulatory & compliance services – We ensure your OPC meets all ongoing legal and regulatory requirements.

Overview of OPC Registration

The Companies Act, 2013 introduced the concept of the One Person Company (OPC), allowing an individual to establish a company with the same benefits as a regular company, such as limited liability and separate legal entity status. Before this, entrepreneurs could only register a business as a sole proprietorship, as the law required at least two directors and two members to form a company. However, with Section 2(62) of the Companies Act, 2013, it became possible to form a company with just one director and one member, who can be the same person. An OPC has fewer regulatory requirements compared to a private company, making it an attractive option for solo entrepreneurs.

OPC Registration Process

1. Obtain Digital Signature Certificate (DSC): Required for signing documents online. Obtain it for the sole member and director.

2. Obtain Director Identification Number (DIN): Mandatory for the director. Apply for it via the MCA portal by filling the DIR-3 form.

3. Name Reservation: Reserve your company name using the RUN form on the MCA portal.

4. Draft MOA and AOA: Prepare the Memorandum of Association (MOA) and Articles of Association (AOA) outlining the company’s objectives and rules.

5. File Incorporation Forms: Submit the required forms via the MCA portal:

  • SPICe+ (INC-32) for registration.
  • MOA (INC-33) and AOA (INC-34).

6. Submit Documents: Provide the necessary documents, including:

  • Proof of identity and address for the sole member and director.
  • Proof of registered office address.
  • NOC from the landlord (if applicable).

7. Certificate of Incorporation: After approval, receive the Certificate of Incorporation from the Registrar of Companies.

8. Apply for PAN and TAN: Apply for the company’s Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for tax purposes.

9. Open a Bank Account: Open a corporate bank account using the Certificate of Incorporation, PAN, and other required documents.

Documents Required for OPC Registration

Following documents are essential for OPC registration online:

  • Memorandum of Association
  • Articles of Association
  • Nominee’s consent, PAN card and Aadhaar card (submitted via Form INC-3)
  • Proof of Registered Office
  • Declaration by proposed director (Form INC-9 and DIR-2)
  • Declaration by qualified professionals for certifying legal compliances.

Tax-Related Advantages

  • Corporate Tax Rates: OPCs enjoy corporate tax rates, which are generally lower than personal income tax rates.
  • Tax Deductions: Business expenses (salaries, rent, etc.) can be claimed to reduce taxable income.
  • GST Benefits: OPCs can claim input tax credit under GST, reducing operational costs.
  • Access to Government Schemes: OPCs are eligible for government incentives aimed at encouraging entrepreneurship.

Why Choose TaxMyles for OPC Registration?

Since their introduction in 2008, One Person Companies (OPCs) have gained significant popularity. However, forming an OPC involves meeting certain requirements and complying with regulations to ensure smooth incorporation and operation.

It is an ideal option for solo entrepreneurs who want to start a business with legal protection and minimal regulatory compliance. Whether you’re launching a new venture or looking to formalize your business, TaxMyles ensures a quick, efficient, and stress-free registration process. Partner with TaxMyles to turn your entrepreneurial dream into a thriving business!