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Please upload the required documents for immediate action on the registration process of One Person Company. Kindly provide your email here! Hence, after the submission, we shall send you the acknowledgement of same.
One person company is a company formed with only one (single) person as a member, unlike the numbers procedures followed in Private and Public Limited companies.
The another who is involved in the business can be a nominee.
The member and nominee of an OPC have to be a resident of India, which means that they stayed in India for more than 182 days during the immediately preceding one calendar year.
The legal status of an OPC as an incorporated company gives an edge to it with respect to availing of loans from any banks as compared to a sole proprietorship.
In the consideration of self growth, market size, disinterested of hire and supplementary expense, the solopreneurs enjoys making the OPC.
Ministry of Corporate Affairs is the governing body in India which regulates OPC in India.
Section-2(62)
“One Person Company” means a company which has only one person as a member;
Section (3)(1)(c)
(1) A company may be formed for any lawful purpose by—
(c) one person, where the company to be formed is to be One Person Company that is to say, a private company,by subscribing their names or his name to a memorandum and complying with the requirements
of this Act in respect of registration: Provided that the memorandum of One Person Company shall indicate the name of the other person, with his prior written consent in the prescribed form, who shall, in the event of the subscriber’s death or his incapacity to contract become the member of the company and
the written consent of such person shall also be filed with the Registrar at the time of
incorporation of the One Person Company along with its memorandum and articles:
Provided further that such other person may withdraw his consent in such manner as
may be prescribed:
Provided also that the member of One Person Company may at any time change the
name of such other person by giving notice in such manner as may be prescribed:
Provided also that it shall be the duty of the member of One Person Company to
intimate the company the change, if any, in the name of the other person nominated by him
by indicating in the memorandum or otherwise within such time and in such manner as may
be prescribed, and the company shall intimate the Registrar any such change within such
time and in such manner as may be prescribed:
Provided also that any such change in the name of the person shall not be deemed to
be an alteration of the memorandum.
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