OPC is a dream come true for any individual who has the aim to start his/her own company. A single shareholder is the major concept of One Person Company with 100 per cent shareholding. The business head is the decision maker, resulting in quicker and easier decision making. A society or any other corporate entity is not allowed to form a One Person Company.
It need not bother too much about compliances, unlike a public or private limited company. Every OPC must appoint a nominee who will become the owner of the OPC in case the promoter/director is disqualified or insolvent and disable.
The single director does not mean that more than one director is a problem, it is mentioned that up to 15 can be allowed as per the companies act. The concept is the person can nominate a nominee to come forward to take care of the rest of the company’s functioning with his/her written consent if the person is not able to work like death event or any other specific reason.
1. PAN card of director
2. ID Proof (any one of the following)
3. Residential address proof (any one of the following)
4. 1 Color photograph of director
5. Place of business proof in India (any one of the following)
6. 3 to 4 Affidavits from director each on Rs. 100/- stamp papers.