compliance exemptions for One Person Companies (OPC)

Compliance exemptions for OPC

1. One Director

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2. Holding of AGM

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3. Holding of Board Meetings

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4. Filing of Annual Returns

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5. Signing of Financial Statements

[{"selector":"#anim-59c5d673-f804-4b93-81cd-ca354b757d98","keyframes":{"opacity":[0,1]},"delay":0,"duration":1100,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3cc3fc62-2b5d-4247-91a7-c57cd780f909","keyframes":{"transform":["translate3d(0px, 49.58245%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1100,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cda525b3-3fb6-4c17-b423-5c4fe0e42dad","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c4e14134-5e16-4dd6-880a-b6d795741ac4","keyframes":{"transform":["translate3d(0px, 49.83341%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8994bd66-3642-492a-badf-e9279d14dec1","keyframes":{"opacity":[0,1]},"delay":0,"duration":900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8540696c-e3cd-4f6f-9120-57501d101373","keyframes":{"transform":["translate3d(0px, 49.23776%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-24573384-817a-40a9-a880-39b7c1171956","keyframes":{"opacity":[0,1]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ea663878-85b9-4fc4-8f79-e94d363d995d","keyframes":{"transform":["translate3d(0px, 49.55646%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e8937b0e-daea-4547-95e8-4d12bc44a0d5","keyframes":{"opacity":[0,1]},"delay":0,"duration":700,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3fc72a9e-eb40-4871-80e9-223c25dd8d2f","keyframes":{"transform":["translate3d(0px, 49.54538%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":700,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f9ac9797-92ad-4194-b7b8-5a8233bfe3b9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b2d97726-108f-4c5d-a52f-856cadf5640f","keyframes":{"transform":["translate3d(0px, 50.31838%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8107f48c-0930-4a7a-8e88-e136e604fe89","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-18c2f89d-81f2-4e53-b360-73951346006e","keyframes":{"transform":["translate3d(0px, 49.11206%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7944f853-9e2f-494b-9cc6-50becfb63e4d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9b394039-3389-4c42-8535-4d1f896a9467","keyframes":{"transform":["translate3d(0px, 381.87153%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8f0cf709-d65a-4ae0-9311-3874931cbfeb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5b9410af-b8ea-45f5-9001-34690c4b0c10","keyframes":{"transform":["translate3d(0px, 2042.22616%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b08b4920-c30d-4fdb-bcff-7c9f08a4a3c3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53aa2c8b-4e01-4360-98ff-51754749314b","keyframes":{"transform":["translate3d(0px, 195.93794%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c3c4ea66-0855-48e2-97b5-6eeeedd519c0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

6. Cash Flow Statement

[{"selector":"#anim-c6abae09-c5ad-4693-b604-562208f6aaaf","keyframes":{"opacity":[0,1]},"delay":0,"duration":1100,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6b7f3881-bbf8-4273-aa81-7404995565eb","keyframes":{"transform":["translate3d(0px, 49.58245%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1100,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53f0a62f-e82a-49c2-9b53-92f34353aa9b","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2a4d3983-93f3-4023-b93d-c5dc714e82fa","keyframes":{"transform":["translate3d(0px, 49.83341%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8f0d18ab-9c86-4481-990e-9b8820e9d265","keyframes":{"opacity":[0,1]},"delay":0,"duration":900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e74e7ff3-6d49-4a5d-80e1-48ddfefc2862","keyframes":{"transform":["translate3d(0px, 49.23776%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d34f4d17-e3e0-4c52-bd7c-ab8672c0228a","keyframes":{"opacity":[0,1]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-41dc1a75-07ea-40ab-a095-21130df8c54f","keyframes":{"transform":["translate3d(0px, 49.55646%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3d1a64d6-eb12-4b1c-bf06-430252562980","keyframes":{"opacity":[0,1]},"delay":0,"duration":700,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6de9dc31-a6e2-485f-9307-7218c641f923","keyframes":{"transform":["translate3d(0px, 49.54538%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":700,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a6e286a5-5da3-4f32-b80d-f22c84652a00","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-55409c96-54a8-4761-bacb-9c705e4e9efe","keyframes":{"transform":["translate3d(0px, 50.31838%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cdd8024c-4169-4bae-83a8-306bb69aa2ce","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4cb8d088-40ab-4796-b372-98b7bf2500a2","keyframes":{"transform":["translate3d(0px, 49.11206%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3e77a3d6-2a3e-4d62-a537-eb2d6122e8bf","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4d2eed1a-be5e-4ed3-8779-3d407ee464a0","keyframes":{"transform":["translate3d(0px, 711.11082%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ae9f5649-0973-4fdf-9be2-f9822d5e9b52","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9d7c19b7-b8b4-4e20-aa53-44000aabf33d","keyframes":{"transform":["translate3d(0px, 2212.22653%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fb6c79c3-f229-4c9c-ac88-f41c38bad19b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fa7c57bb-e285-4274-a406-92d675e9c724","keyframes":{"transform":["translate3d(0px, 215.29278%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0841fc49-b45c-4a58-8665-e823ee811ef5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

7. Audit Reports and Auditors

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https://ebizfiling.com/

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Compliance exemptions for OPC

1. One Director

OPCs require only one director, unlike other companies that need at least two.

2. Holding of AGM

OPCs are exempt from holding an Annual General Meeting (AGM).

3. Holding of Board Meetings

OPCs don’t need regular board meetings like other companies.

4. Filing of Annual Returns

OPCs must file annual returns, but the process is simpler compared to other companies.

5. Signing of Financial Statements

Only one director signs the financial statements in OPCs, reducing complexity.

6. Cash Flow Statement

OPCs don’t need to submit a cash flow statement as part of their financials.

7. Audit Reports and Auditors

OPCs may not need auditors if their annual turnover is below a set limit.

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File Your OPC Annual compliance