One Person Companies (OPC)
BEST SUITED FOR
- Solo entrepreneurs seeking limited liability
- Businesses looking to issue shares
- Startups aiming for investment through equity-based funding
Benefits of OPC in India
- Limited liability while maintaining full control of the business.
- Separate legal entity status with perpetual succession.
- No minimum capital requirement.
- Fewer compliance burdens compared to private limited companies.
Process
1
Obtain Digital Signature Certificate (DSC)
Required for the sole director to digitally sign incorporation documents.
2
Director Identification Number (DIN)
Applied automatically through the SPICe+ Part B form if not already allotted.
3
Reserve Company Name (SPICe+ Part A)
Choose a unique name following MCA naming guidelines and reserve it online.
4
File SPICe+ Part B for Incorporation
Fill in incorporation details, business object, nominee details, and attach:
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Declaration and Consent forms
- Proof of registered office
5
Automatic PAN & TAN Allotment
Once approved, the Ministry of Corporate Affairs issues the Certificate of Incorporation (COI), PAN, and TANwithout any separate application.
6
Open Bank Account & Start Operations
Use the COI, PAN, and TAN to open a current account in the company’s name.
Required Documents
- PAN & Aadhar of director
- Address proof (utility bill, rent agreement, or recent bank statement) for the director
- Proof of registered office address (rent agreement and NOC from the owner)
- Passport-size photograph of the director
- Email ID and mobile number of the director
- Brief description of the company's business activities