One Person Company is a company incorporated under the Companies act, 2013 having separate legal entity, perpetual succession and can sue and be sued by its own name.Minimum Requirement for One Person Company Registration:
A minimum one Director who is adult.
Director of a one person company has to be an Indian Citizen and Indian Resident.
It is required to have only one member of a company.
The shareholder can be natural person or an artificial legal entity.
A nominee is required to be nominated by sole member for succession in case of death or lunacy of sole member.
An One Person Company is a company having separate legal entity and it may own property on its own name and can sue and be sued through its own name.
The liability of sole member or shareholder is limited to the contribution made by him.
An One Person Company separates Management and Ownership and thus, managers and directors are responsible for the company’s success and are also answerable for the company’s loss.
Since an One Person Company is a separate Legal entity, in the eyes of law the company keeps on existing even in the case of death, insolvency or bankruptcy of sole its member.
An One person company has to comply with less legal compliances than a Private limited company and a public company.
Permanent Account Number (PAN) Card
Aadhaar Card / Passport / Driving License / Voter Identity CardAddress Proof
Telephone Bill / Mobile Bill
Electricity Bill / Water Bill
Bank Statement /Bank Passbook with latest transaction
*(Any one of the Document not older than 2 months)Passport size Photographs
All the Copies of documents must be Self-Attested by the applicant.
Telephone Bill / Mobile Bill/Electricity Bill / Bank Account Statement must be in the name of applicant and should not be older than 2 months.
No-Objection letter from the Owner of Address to use the address of the registered office of the Company.
Address Proof – In the name of the Owner:
Electricity Bill, Telephone Bill (Fixed Line Only), Gas Bill or Water Bill (Not older than 2 months);- To be signed by the of the Owner of Premises.
Rent Agreement (if rented)
Select a suitable package.
Provide basic details & documents required for Incorporation.
Make Payment through Secured Payment GatewayRegistration
Application for DSC.
Application for Name approval
Drafting of documents (MOA, AOA, DIR-2,etc)Registered on MCA*
Issuance of COI, PAN, TAN by MCA.
*Company will be registered with 10-12 working days subject to the MCA processing and approval.
Provide basic details & documents required for registration.
Application for DSC.
Name approval application through Spice part A.Day 4:
Drafting of DocumentsDay 5-8:
Filing company registration application through Spice Part-BDay 9-12:
MCA processing time
Issuance of PAN, TAN, COI
|Particulars||Sole Proprietorship||Partnership Firm||Private Company||Public Company||Limited Liability Partnership||One Person Company|
|Act||No specified Act||Indian Partnership Act, 1932||Companies Act, 2013||Companies Act, 2013||Limited Liability Partnership Act, 2008||Companies Act, 2013|
|No. of Members||Only one||Minimum 2 to Maximum 50||Minimum 2 to Maximum 50||Minimum 7 to Unlimited||Minimum 2 to Unlimited||Only One|
|Perpetual Succession||NO||No, if less than 2 partner||Yes||Yes||Yes||Yes|
|Management Control||Sole owner||Active Partners||Board of Directors||Board of Directors||Designated Partners||Sole member|
|Distribution of Profits||Profit of owner||Distributable as per deed||As per subscribed capital proportion||Distributable as dividend to Members||Distributable as deed||Profit of Sole owner|
|Minimum Capital Requirement||Not specified||Not specified||No minimum capital is required||5 Lakhs||Rs. 1/-||No minimum capital is required|
|Formation Process||Easy to Form||Easy to Form||Moderate||Complex||Moderate||Moderate|
|Foreign Direct Investment||Not allowed||Not allowed||Allowed||Allowed||Allowed||Allowed|