One Person Company Registration
Ideal for an entrepreneur who has alone started a venture.
What is OPC Registration?
The idea of One Person Company (OPC) in India was introduced to give a boost to entrepreneurs who have great potential to start their own venture by allowing them to create a single person company. Since no intervention from any third party is seen, it makes it more beneficial. So, if you want to start up your own business, you don’t have to worry about all the complex and tedious processes.
One Person Companies are helping tremendously in increasing the overall economy of India. More and more Entrepreneurs are coming up and setting up their business. Since no intervention from any third party is seen, it makes it more beneficial.
Choose OPC Because
- Only one member is required.
- Unaffected by the death of member or change in ownership.
- Easy to set up and maintain comparatively.
- Limits the liabilities of its members
- Minimal Paperwork is required.
- Can act as Stockbroker or Sub-broker
- Not many compliances
Documents Required
- Copy of PAN Card of owner
- Passport size photograph of the owner
- Copy of Aadhaar Card/ Voter identity card
- Copy of Rent agreement (If rented property)
- Electricity/ Water bill (Business Place)
- Copy of Property papers (If owned property)
- Landlord NOC (Format will be provided)
Minimum Requirements
- One Shareholder
- One Director
- One Nominee
- One Person
Steps Involved in OPC Registration
Obtain of DSC & DPIN
The proposed directors must obtain a Digital Signature Certificate(DSC) from 8 authorized DSC makers.
Reservation of Name
An application for the reservation of a suitable name must be made in Form No. INC-1.
Entrenchment Provisions
In case the articles of association contain provisions for entrenchment, the company must inform the Registrar of such provisions in Form No.INC-2 at the time of incorporation of the company or in case of existing companies (by amendment of the articles of association), the same must be filed in Form No.MGT-14 within 30 days from the date of entrenchment of the articles.
Articles of Association
Model articles of association have been provided in Tables F, G, H, I and J of Schedule I, as are applicable, and can be adopted by a company either in totality or otherwise.
Application For Incorporation of OPC
An application must be filed, with the Registrar of Companies(ROC) within whose jurisdiction the registered office of the company is proposed to be situated, in Form No.INC-2.
Signing of Memorandum and Articles of Association
The MOA and AOA of the company must be signed by the sole member who is also the subscriber to the memorandum, who must give details of his name, address, description and occupation, if any, in the presence of at least one witness who must also attest the signature and must also sign and give his details.
Affidavit of Subscriber and the Director
The affidavit must be submitted by the sole member who has subscribed to the memorandum and named in the articles in Form No.INC-9.
Declaration by professionals or Online filing of OPC
The declaration by an Advocate, a Chartered Accountant, a Cost accountant or Company Secretary in practice shall be in Form No. INC-8.
OR
The Ministry of Corporate Affairs (MCA) has issued an integrated incorporation form INC-32. So now, an OPC can be incorporated online by filling the Simplified Proforma for Incorporating Company Electronically (SPICe) form in Form INC-32 (using Digital Signature Certificate of the Director)along with (eMOA) in Form INC-33 and (eAOA) in Form INC-34.
Nomination by the Sole Member
1. The subscriber to the memorandum of a One Person Company must nominate a person, after obtaining the prior written consent of such person, who shall, in the event of the subscriber’s death or his incapacity to contract, become the member of that One Person Company.
2. The name of the person nominated shall be mentioned in the memorandum of One Person Company and such nomination in Form No INC-2 along with consent of such nominee obtained in Form No INC-3.
Particulars of Subscriber
The sole member must file the particulars of subscription with the Registrar at the time of incorporation.
Eligibility for OPC Registration
Only a natural person who is a citizen of India and resident in India
Is eligible to incorporate an OPC.
Is eligible to be a nominee for the sole member of an OPC.
A Resident of India is a person who has stayed in India for at least 182 days in the preceding 1 year.
If an OPC exceeds a turnover of over Rs.2 crore or has a paid-up capital above Rs.50 lakhs, it must be turned into a private or public limited company within six months.
Start OPC Registration
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