One Person Company (OPC) registration in India is a new and advantageous way of owning a company. If you are considering starting a company by yourself, then OPC may be the right choice for you. Read this to know more about OPC registration.

1. What is One Person Company (OPC
Registration) In India?
The term 'One Person Company or 'OPC' is a new concept for registering a company
in India. An OPC is incorporated only by a single person. OPC has the benefits of the
sole proprietorship. one-person company registration in Delhi registration in Delhi,
Mumbai, Chennai or pan India is easy and straightforward. The Companies Act 2013
contains various provisions related to OPC formation, functioning, and regulations.
There are many advantages of owning a one-person company, and the list is as
follows:
Benefits of OPC
#1 Legal Status: OPCs have a legal status and are recognised as separate legal
entity. This means that the OPC can own property, enter into contracts, and sue or be
sued in its name.
#2 Can avail the status of a start-up: Another advantage of an OPC is that it can
avail the status of a start-up. This is because an OPC is considered a small company.
Start-ups are eligible for certain benefits and incentives, such as tax exemptions.
#3 Easy to Wind Up: An OPC is also easy to wind up. The process of winding up an
OPC is more straightforward and quicker than that of other types of companies.
#4 Less Paperwork and Maintenance: OPC registration also results in less
paperwork and maintenance. This is because an OPC is not required to prepare and
file certain documents, such as profit & loss accounts and balance sheets.
#5 Fewer compliances: One Person Company registration in India is a simple and
efficient process. The time and cost of OPC registration are relatively less compared
to other types of company registration. OPCs are also exempt from specific
compliance requirements like not compulsory to prepare cash flow statements; as an
OPC has only one director, it has to comply with fewer regulations. This includes filing
annual returns and holding board meetings.

2. #6 Easy incorporation: The incorporation of an OPC is relatively easy, this type of
company incorporation requires only one shareholder and one director. The main
requirement is to have a minimum authorised capital of Rs.1 lakh. The OPC
registration process can be completed online on the MCA portal.
#7 Perpetual succession: An OPC has perpetual succession, meaning it continues
to exist even if the owner dies or leaves the country. The ownership and management
of the OPC are not affected by the death or departure of the shareholder or director.
The nominee whose name has been mentioned in the Memorandum of Association
will become the member of the company in the event of death of the existing member.
OPC registration in India is a relatively new concept, and there are many advantages
to owning an OPC. These advantages include a legal status, the ability to avail the
status of a start-up, ease of incorporation, and perpetual succession. If you are
considering of starting a company alone, then OPC may be the right choice.