Only one person is needed to start an One Person Company (OPC). One Person Company (OPC) is suitable for small companies where the business turnover is not likely to cross Rs. 2 Crores, and the maximum amount of investment is limited to Rs. 50 Lakhs. An One Person Company (OPC) can have more than one director. However, one of them must be an Indian Residential ship holder. The One Person Company (OPC) can be registered by Indian Citizen Only, and Foreign Direct Investment (FDI_ is not allowed in an OPC.

The Stepwise Process to Start a One Person Company (OPC):

• Check eligibility and documents required.

• Apply for Digital Signature Certificate (DSC) of the Director.

• File RUN Application for Name Reservation of the One Person Company (OPC).

• File Spice Plus Form for Company Incorporation.

• Apply PAN and TAN for Your One Person Company (OPC).

• Open Bank Account and Start Operation of One Person Company (OPC).