Why Mumbai's Solo Founders Choose an OPC
Mumbai has a large community of independent professionals: consultants and fractional CFOs in BKC and Lower Parel, creative and media freelancers in Andheri and Goregaon, and tech founders building alone before they raise money. Many start as proprietors, then find that large clients, production houses and agencies prefer to contract with a company.
A One Person Company gives a single owner the structure of a private company, with a separate legal identity, limited liability and a CIN, without needing a second shareholder or partner.
Who Can Form an OPC
- One individual who is an Indian citizen, as the sole member (and usually director)
- Resident in India, meaning at least 120 days in India in the previous financial year
- A nominee who is also an Indian citizen
- A registered office address in Mumbai, which can be your home
An OPC cannot carry on non-banking financial or investment activities, and one person can be a member of only one OPC.
Documents Required
- PAN and Aadhaar of the member and the nominee
- Recent bank statement or utility bill of the member
- Photograph, email and mobile number of the member
- Nominee's consent in Form INC-3
- For the registered office: an electricity or gas bill and the owner's NOC, plus the rent agreement if the flat is rented
Registration Process
- DSC for the director.
- Name reservation through SPICe+ Part A; OPC names end with "(OPC) Private Limited".
- SPICe+ Part B with e-MoA, e-AoA and INC-3, and Maharashtra stamp duty paid online.
- AGILE-PRO-S for GSTIN (if needed), Maharashtra professional tax and a bank account.
- Certificate of Incorporation with CIN, PAN and TAN.
OPC vs Other Structures
- Proprietorship: no separate entity and unlimited personal liability
- OPC: limited liability for a single owner, with audited accounts and ROC filings
- Private limited company: two or more shareholders; the structure investors expect
- LLP: two or more partners with lighter compliance
After Incorporation
- Open a current account and deposit the share capital
- File the commencement of business declaration (INC-20A) within 180 days
- Appoint the first auditor and keep minutes of decisions
- Register for Maharashtra professional tax and, where required, GST
- File AOC-4, MGT-7A and the income tax return every year
Serving Clients Across Mumbai
Andheri, Bandra, Juhu, Goregaon, Malad, Powai, Lower Parel, Worli, Dadar, Fort, Chembur, Thane and Navi Mumbai, all handled online.
₹6,999
Starting price
- DSC for the director
- Name reservation
- MoA and AoA drafting
- Nominee consent (INC-3)
- Certificate of Incorporation
- PAN and TAN
Frequently Asked Questions
Who can register a One Person Company?
Only an individual who is an Indian citizen and resident in India can form an OPC. Since April 2021, an NRI who is an Indian citizen can also form one, and "resident" means staying in India for at least 120 days in the previous financial year. A person can be a member of only one OPC at a time.
What is a nominee and why is one needed?
Every OPC must name a nominee, an individual Indian citizen who becomes the member if the owner dies or becomes incapable of contracting. The nominee gives written consent in Form INC-3, filed with the incorporation application. The nominee can be changed later.
Is there a turnover or capital limit for an OPC?
Not any more. Since April 2021 there is no paid-up capital or turnover limit that forces an OPC to convert into a private limited company. You can convert voluntarily whenever you need more shareholders, for example to raise investment.
How long does OPC registration take in Mumbai?
Usually 7 to 10 working days once documents are ready, covering the digital signature, name approval and incorporation. The OPC then falls under the Registrar of Companies, Mumbai.
What are the annual compliances of an OPC?
An OPC files its financial statements in AOC-4 within 180 days of the end of the financial year and its annual return in MGT-7A. Its accounts must be audited by a chartered accountant, and it needs an income tax return. It does not have to hold an annual general meeting.
OPC or sole proprietorship: which is better?
A proprietorship is cheaper and simpler but gives no protection to your personal assets. An OPC is a separate legal entity with limited liability, looks more credible to corporate clients and banks, and can be converted into a private limited company when you grow.
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