Introduction
Starting a business alone? A One Person Company (OPC) might be your best option. It allows you to be the sole owner and still enjoy limited liability benefits. Thanks to the Companies Act, 2013, OPC has become one of the most preferred business structures for solo entrepreneurs and freelancers in India.
Benefits of OPC Registration
Limited liability: Your personal assets remain safe if your business faces financial issues.
Complete control: As a single owner, you make all the decisions.
Better credibility: An OPC is legally recognised and trusted by banks and investors.
Lower compliance: Fewer filings compared to private limited companies.
Legal Framework for OPC in India
OPCs are governed by the Companies Act, 2013. Only one shareholder and one nominee are required. The nominee takes over in case of the death or incapacity of the owner.
Who Can Register an OPC in Chennai?
Only Indian citizens residing in India for at least 120 days in the preceding year can start an OPC.
Minimum: 1 director & 1 shareholder
Maximum: 1 shareholder (but up to 15 directors allowed)
Documents Required for OPC Registration
PAN and Aadhaar card
copyright-size photos
Rental agreement and NOC from property owner (if office is rented)
Electricity or water bill for office address proof
Step-by-Step Process of OPC Registration
Obtain DSC & DIN: Digital signature and director identification.
Reserve a Name: Apply on the MCA portal.
Draft MoA & AoA: Define business activities and structure.
File SPICe+ Form: Submit with necessary documents.
Get an Incorporation Certificate: After MCA approval, you can start operations.
Cost and Timeline for OPC Registration in Chennai
Typically, it takes 7–10 business days if all documents are correct. Costs include government fees, stamp duty, and professional charges, averaging around ₹8,000–₹12,000 depending on services.
Taxation for OPC
An OPC pays corporate tax (22% under the new regime). GST registration is required if annual turnover crosses ₹40 lakh for goods or ₹20 lakh for services.
OPC vs Private Limited vs Proprietorship
Proprietorship: Easy to start, but unlimited liability.
OPC: Limited liability, single owner, separate legal entity.
Private Limited: Suitable for multiple partners and investors.
Annual Compliance for OPC
Filing AOC-4 and MGT-7 annually with ROC.
At least two board meetings per year are required.
Audit of financial statements is mandatory.
Why Choose Chennai for OPC Registration?
Chennai offers a thriving startup culture, skilled professionals, and supportive business infrastructure. Many companies prefer registering here due to its cost-effectiveness and growth opportunities.
How Chennai Filings Can Help?
Confused with the process? Professional help saves time and avoids errors. Visit Chennai Filings – OPC Registration for a hassle-free experience. They handle everything from documentation to incorporation.
Common Mistakes to Avoid During OPC Registration
Submitting incorrect documents.
Choosing a name that is too similar to existing companies.
Missing annual compliance after registration.
Conclusion and Key Takeaways
Starting an OPC in Chennai is simple and highly beneficial. You get the best of both worlds—limited liability and complete control. Ensure proper documentation and compliance to avoid penalties—partner with experts like Chennai Filings for smooth registration.