One Person Company

• Only Indian citizens who are also residents of India (staying in India for at least 182 days during the previous year) can register an OPC.
• You must be an individual (not a corporate entity) to form an OPC.
• The sole shareholder of the OPC must appoint a nominee who will assume control of the company in case of the shareholder's death or incapacity.

• Limited Liability: The owner’s personal assets are protected as the liability is limited to the capital invested in the company.
• Separate Legal Entity: An OPC is a separate entity from its owner, which allows it to own assets, sign contracts, and sue or be sued.
• Simplified Compliance: OPCs face fewer regulatory and compliance requirements compared to other types of companies, such as private limited companies.
• Flexibility in Management: The owner has full control of the company and doesn't need to share decision-making powers with anyone else.

• One shareholder (Indian citizen, resident).
• Nominee for succession.
• Registered office in India.
• Documents: Identity proof, address proof, photographs.
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It takes around 7-10 working days to complete the registration.

• Filing Annual Return (MGT-7) and Financial Statements (AOC-4) with the Registrar of Companies (RoC).
• Maintaining Records of the Sole Director: The company must maintain minutes of meetings (even if no physical meetings are held).
• Income Tax Filing: Annual Income Tax Returns (ITR) must be filed.
• Audit Requirement: OPCs must appoint an auditor to audit their financial records annually.
• No Requirement for Annual General Meeting (AGM) for OPCs.