OPC company registration can be done only by Indian residents, and that too only one at a time, as per the specifications of the Ministry of Corporate Affairs.

There is no difference in capital requirement between an OPC and a private limited company. It needs an authorized capital of ₹1 lakh, to begin with, but none of this actually needs to be paid up. This means that you don’t really need to invest any money into the business.

The cost of an OPC is only marginally lower than that of a private limited company. You’ll be shelling out around ₹12,000 to incorporate, then paying around ₹15,000 a year in compliance fees and an auditor to inspect your books.

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

An OPC has certain limitations. The person starting the business is its only director and shareholder. There is also a nominee director, but this person has no power whatsoever for raising equity funds or offering employee stock options. The nominee exists only to take over in case of the death or incapacitation of the director. The nominee is chosen by the director and can be anyone, such as your spouse, parents, or siblings. The nominee will need to provide identity proof during registration.

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

The OPC Registration is mandatory for all entrepreneurs. How many people are required to start One Person Company? At least one nominee is required to start an OPC who can act as a shareholder as well as a director.

Director Identification Number: After obtaining the DSC it is necessary to apply for the DIN for the proposed Director in the SPICe Form with the name and the address proof of the Director. Name Approval Application: The next step while incorporating an OPC in Mumbai is to decide the name of the Company.