What should you know about a one-person company?

According to the Company’s Act of 2013, a company owned and operated by a single person is referred to as a One Person Company (OPC) in India. He or she will represent the corporation as a shareholder and a director.

What are some characteristic features of a one-person company?

OPC can be set up as a private limited company, even though its members and shareholders are limited to one individual.

The individual founding the company must nominate one nominee.

A minimum of one lakh rupees is needed for capital.

Share transfers are prohibited in the event of an OPC.

What documents are needed for the same?

Properly completed application form with owner photos the size of a passport

A copy of the applicant’s voter ID card and Aadhaar card

Property documents, the owner’s PAN card, and the rent agreement (if the property is rented)

Utility bills for the company (water and electricity bills)

Landlord’s NOC

Any further paperwork requested by the Registrar of Firms

Conclusion: OPC must offer a legal identity, such as a name under which the company’s operations will be conducted. The words “One Person Company” must appear next to the company’s name anywhere it appears.