The term OPC in India is simply one kind of company organization in which a single owner can initiate and conduct a business in the form of a separate legal entity. This would mean that it provides the owner with limited liability protection, and the company exists perpetually, separate from the owner.
Benefits Of OPC:
- Single Ownership: It is owned and managed by a single person who acts as the director and shareholder.
- Limited Liability: The extent of liability of the owner is only up to his investment in the company, without affecting personal property of any kind for the business debts.
- Separate Legal Entity: Law treats OPC as a separate legal entity distinct from its owner.
- Nominee Requirement: The Company shall have to appoint a nominee who would succeed the company in the event of death or incapacity of an owner.
- Perpetual Succession: It enables the company to have an uninterrupted existence, even upon death or inability of the owner to continue.
- Flexibility in Compliances: OPCs enjoy lesser compliances with lesser regulatory compliances than bigger companies but are treated as Small Companies and are mandated to file annual returns and prepare and maintain statutory registers.
Eligibility Criteria for OPC Registration:
Natural Person as Owner: Only a natural person who is an Indian Citizen and Resident-a person who has stayed in India for at least 182 days in the preceding year incorporates an OPC.
Nominee Requirement:
One-Person Company Registration: The sole owner has to appoint a nominee at the time of registration of the company. The nominee shall also be a natural person and an Indian citizen and resident. He succeeds the owner in case of death or incapacitation of the owner
Age and Capacity
Minor cannot become shareholders, directors or nominees in an OPC.
Business Restrictions
- An OPC can't do non-banking financial investment activities, such as purchasing corporate securities.
- It cannot be incorporated for charitable purposes, as covered under Section 8 of the Companies Act.
One OPC Rule:
One person can incorporate only one OPC and a person cannot be a nominee in more than one OPC at any time
Why Choose YKG Global for Registration of OPC?
- Expert Consultation: Our team of experienced professionals offers personalized consultation that guides you properly to make the right decisions for your business.
- Competitive Pricing: We ensure that our pricing is transparent, with no hidden charges, so that you receive true value for money.
- Fast and Smooth Process: Our seamless processes ensure that your OPC gets registered within the time limit.
