Begin with Legal Registration of your Company
One Person Company (OPC)
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How It Work?
Benefits of OPC
Get Company Compliances Done
Private Limited Company Compliances with us.
Procedure For Registration
Our Special Features
Why Start-Up Kro?
The private limited company registration process is entirely online, so you don’t even have to leave your home to get your entity registered. At Start-Up Kro, we complete the company incorporation process within 14 days and provide you with a complete Start-Up Kit.
‘StartUp Kro’ Start-Up Kit of company registration package includes:
- DIN and DSC for two Directors
- Drafting of MoA & AoA
- Registration fees and stamp duty
- GST Registration
- Company incorporation certificate
- Company PAN and TAN
- Zero current balance account – Powered by DBS bank / ICICI Bank / HDFC Bank
- Domain + 1 yr Hosting + 10 e-mails
- Share Certificates & Business Commencement
- Part-Payment & Monthly EMI
With this, you will be well on your way to forming your own Pvt ltd company. You should consult with the experts and make the finest decision for smoother growth.
- Documents from Director / Shareholder /Nominee:
- Identity Proof:
- Permanent Account Number (PAN) Card
- Aadhaar Card / Passport / Driving License / Voter Identity Card
- Address Proof:
- Telephone Bill / Mobile Bill
- Electricity Bill / Water Bill
- Identity Proof:
- Bank Statement /Bank Passbook with the latest transactions (Any one of the Documents not older than 2 months)
- Passport size Photographs – 3 each
- Telephone Bill / Mobile Bill/Electricity Bill / Bank Account Statement must be in the name of the applicant and should not be older than 2 months
- If the documents are not in English, they should be translated into English
- Documents to be Signed by all DIRECTOR(s):
- Consent to Act as Director: Form DIR-2
- Details for DIN
- Declaration of DIN (If DIN is allotted already)
- Documents to be Signed by Shareholder:
- Application for Digital Signature Certificate (DSC)
- Affidavit by Subscribers & Director: INC-9
- Documents to be Signed by Nominee Shareholder:
- Details of Nominee Shareholder
- Consent by the Nomination of Shareholder – Form INC-3
- Documents from Company / LLP / Trademark Owner, if any:
- Board Resolution / Formal authorisation for the use of Name / Trademark
- Authorisation for the execution of Documents from Company / LLP
Benefits of a One-Person Company
Even though OPC only has one person managing all of the day-to-day operations, it offers alternatives for ongoing succession. The nominee can lead the business if a member of it passes away.
- Small Liability
In a one-person company, the member is only partially liable. OPC is considered as a separate legal entity because it is a registered company, giving its members greater protection. Members are not responsible for any losses incurred by the company because their responsibility is restricted to the value of their shares. In the event of bankruptcy, the company itself, rather than the company’s director, may be sued by creditors for accumulating the company’s debt.
- Sole shareholder and directorship
In an OPC, a single member serves as the company’s director and is responsible for overseeing daily operations. An executive director is not necessary in this situation to manage the daily requirements. One member is more than enough and fulfils the obligations of a shareholder.
- Ownership of Property
The OPC is permitted to hold assets and business-related property in a person’s name because it is regarded as a separate legal entity. The assets, such as the machinery industries, homes, buildings, and other assets, cannot be claimed by another individual. The OPC is authorised by law to directly purchase property.
Limitations for One-Person Businesses
Even though starting a one-person company has many benefits, there are also some limitations.
- Insufficient for Scalability
The best alternative for a small business structure is to register your company as an OPC. However, this could not work if you intend to expand it up to higher levels. There is always just one person in an OPC at any given moment. You cannot register your business as an OPC if you want to increase both the number of shareholders and the number of members. OPC is therefore unlikely to raise further money. This will prevent firms from expanding and growing.
- Greater Limitations on Commercial Activities
OPC is prohibited from engaging in non-banking financial investment operations by the norms and regulations. It is not possible to invest in the security of other corporations by registering as an OPC.
- There is a blurry line separating ownership and management
Since the one-person corporation only has one employee, it is impossible to distinguish between the positions of management and director. All choices may only be made and approved by one person. Therefore, the likelihood of unethical behaviour is higher.
Types of Govt. Registration
Compare different types of Legal Entities which best suit your Business type.
- Recommended For
- Ease of Business
- Limited Liability Protection
- Tax Advantages
- Perpetual Existence
- Statutory Compliances
Pvt. Ltd. Company
- Start-Ups & Developing Company
- Very Easy to Sell/Buy
- Low (Max for MSME)
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