One Person Company is a new concept introduced in India through Companies Act, 2013. Under this new concept, any Indian resident citizen can start an OPC by following the prescribed procedure.
MINIMUM REQUIREMENTS FOR OPC REGISTRATION
- Minimum 1 Shareholder;
- Minimum 1 Director;
- The directors and shareholders can be the same person
- Only Indian residents can be Shareholder & Nominee
- Minimum 1 Nominee
- DIN (Director Identification Number) of Directors
- DSC (Digital Signature Certificate) for one of the Directors
- Separate Legal Entity i.e. De-risking of promoters liability to the Company
- Perpetual succession i.e. Promoters may come and go but Company runs
- Separate Tax Liability of owner and Company
- Limited Liability i.e. Debt is not the sole responsibility of the owner
- Registration certificate form Ministry of Corporate affairs.