• Single Member: OPC as name suggest it can start with one share holder and one nominee. Minor and abnormal person is not eligible.

• Directors : Require to appoint minimum 1 directors to run the company .

• Capital: Should have minimum Authorized capital of Rs. 100000/- (One lakh rupees).

• Perpetual succession: In case of death of the member will result in choosing or rejecting the nominee to become the sole member.

• Conversion : After 2 years of incorporation OPC has an option to  convert itself to private/public company.

• MOA & AOA : This document describe the object, rules and regulation for the company.

1. Name Approval - Only unique name approves 

2. Create a digital signature certificate

3. Obtain Director Identification Number (DIN)

4. Incorporation Procedure

5. Get Certificate of Incorporation, PAN, TAN

1. PAN and AADHAR of all Directors

2. Copy of utility bills (not more than two months);

3. Proof of office address (conveyance/lease deed/rent agreement with receipts);

4. Proof of identity and address of all directors; (Voter Id/driving License and Bank statement/Passport of directors/subscribers)

5. Business Activity of Company in Detail.

6. Paid Up Capital of Company

7. Passport size photo of Directors

Generally time varies from 7 to 20 working days and also it depends upon availability of proper documents on time by client.

Advantage

• Tax benefit 

• Sole Ownership 

• Transparency 

• Unique identity

Disadvantage

• High Compliance formalities

• Winding up may be time-consuming and complicated. 

• Compulsory conversion to private Limited : If paid up capital exceeds 50 lakhs Rupees and average annual turnover of preceding 2 crores has to be comulsory convert itself to private /public limited company.