A new concept has been introduced in the Company’s Act 2013, about the One Person Company (OPC). Earlier, In a Private Company, a minimum of 2 Directors and Members are required whereas in a Public Company, a minimum of 3 Directors and a minimum of 7 members. This prevented a single person from running a company. But now as per Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. It is a form of a company where the compliance requirements are lesser as compared to a private company.

DOCUMENTS REQUIRED FOR ONE PERSON COMPANY INCORPORATION

• Copy of PAN Card of shareholder
• Passport size photograph of the owner
• Copy of Aadhaar Card/ Voter identity card
• Copy of Rent agreement (If rented property)
• Electricity/ Water bill (Business Place)
• Copy of Property papers (If owned property)
• Landlord NOC (Format will be provided)

CHECKLIST /MINIMUM REQUIREMENT FOR ONE PERSON COMPANY INCORPORATION

• Minimum 1 Shareholder
• Minimum 1 Directors
• Minimum 1 Nominee
• The directors and shareholders can be same person
• Only Indian residents can be Shareholder & Nominee
• Minimum 1 Director must be Indian Resident
• Minimum Authorised Share Capital to be Rs. 1 Lac
• DIN (Director Identification Number) for all Directors
• DSC (Digital Signature Certificate) for 1 Promoters & 1 witness