One Person Company Registration in Bangalore

  • The business is owned, managed and controlled by One person as the Director and Shareholder.
  • It has a separate legal existence and has business continuity, even with the death of the Director.
  • It has limited liability and also has better credibility as compared to sole proprietorship.

Important points to be noted

  • Should have a nominee Director, in case of any disability of the Single Owner.
  • If the annual turnover crosses Rs. 2 Crore, the Company has it converted into a regular Private Limited Company and get file the audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year like any other Company.
  • The Company should convert in Private Limited Company if it acquires a paid-up fund of Rs. 50 Lakhs or more.
  • Cannot contribute towards Employee Stock funding or equity funding.

List of Documents required

  1. PAN or Passport copy (In case of Foreign Nationals or NRIs).
  2. Copy of Voter’s ID or Driver’s License.
  3. Copy of latest month bank statement/Phone (or Mobile) Bill/Electricity bill/Gas Bill.
  4. One Passport Size Photo.
  5. Copy of Electricity bill for latest month (for registered office address proof).
  6. Rental Agreement and NOC by the owner.
Frequently Asked Questions

1. Benefit of registering an OPC

It is an ideal alternate to Sole Proprietorship, especially because it has the option of limited liability and hence the personal assets of Director is not attached to the business liabilities.

2. Who can register an OPC

Only Indian residents can register an OPC and further follow the specifications of the Ministry of Corporate Affairs.

3. Capital Requirement

There is no minimum capital for OPC registration. However, the maximum Authorised Capital shall not exceed Rs. 50 Lakhs at any time.

4. Compliance requirement

  • Conduct at least one meeting of the board of directors in each half of a calendar year and the time gap between the Two Board meetings should not be less than 90 days.
  • Maintenance of proper books of accounts.
  • Statutory audit of financial statements.
  • Filing of Income Tax returns every year within the due date.
  • Filing of financial statements and Annual Return with the Registrar of Companies each year within the due date.

5. Penalty for non-compliance

  • If an OPC or any officer of such company contravenes the provisions of Company Incorporation Rules, 2014, such contravening party will be punishable with fine which may extend to Rs. 10,000/- and with a further fine which may extend to Rs. 1,000/- for every day after the first during which such contravention continues.

6. Can a person start more than One OPC?

  • No, an individual can only form one OPC at a time. Also, the rule applies to the nominee in an OPC.