Blog #OPC Registration

In this article, I will give you a detailed description of exactly what one person company is, how you may get a one person company registration and pros and cons related to it. Each heading below will guide you the details.

What is One Person Company (OPC)?

The one person company is a form of business and it is a newly introduced concept in the company’s act 2013. It is an easy form of business. Unlike the private limited companies and public limited companies which require minimum two directors and three directors respectively and a minimum of two members and seven members respectively, One person company requires only one person, just as the name suggests.

As per the section 2(62) of the company’s act of 2013, a company can be incorporated by one person only and the member and director remain the same person in company.

Prerequisites for One Person Company Registration

• In any case, when you have a plan of owning any kind of business, you must have is a digital signature. It’s a way to digitally sign forms electronically. Now how will you get your DSC? Well, certifying authority can issue a DSC. For DSC, following documents will be required such as residential address proof, Copy of Aadhaar card, Copy of PAN, a passport sized photograph and e-mail address and registered mobile phone number. Once these all are submitted, DSC will be issued to you.
• Another important document as the director of the company, you should have a DIN which is a short abbreviation for director identification number. This will require your details like residential address proof etc and you will eventually get your DIN.
• Note: All the companies that have been incorporated after January 2018 onwards will not have to separately apply for a DIN as they may do it with the SPICe form. This can be done for up to 3 directors.
• Now you must get an approval for the name of your choice for your respective one person company. You may pick a name most relevant to your business operations activities. For this, application is made in RUN form with the ministry of corporate affairs.
• Coming to the preparation of the documents required for applying for one person company registration. These documents must be submitted to the registrar of companies, also known as ROC.
• Following is the list of documents.
• MOA:- Memorandum of association or MOA contains the objectives that are to be followed by the one person company.
• AOA:- Article of Association, lays down the set of rules & regarding the operations of the company under the law.
• Hire a nominee:- Because only one person is the director and member of the one person company, one must have a nominee in case something happens to the main director or in case he is no longer capable of performing his duties. The nominee will take over the duties in such a case. The consent will be taken through the form number INC-3 along with the nominee’s documents like the PAN card number and Aadhar card number etc.
• A proof for your registered office will be required too. If the ownership is in your name, you may provide with the copy of your office’s utility bills which will be in your name or NOC from your landlord along with the rental agreement.
• Affidavit and consent via INC-9 and DIR-2 forms.
• Declaration by a practicing professional.

Once all prepared, submit it to the ROC and in a few days after verification of your documents and application you will be granted your registration certificate.

The procedural steps of one person company registration. (Summarized)

Step 1: Apply for DSC.

Step 3: Name Approval Application.

Step 4: Filing of incorporation forms along with the required documents with MCA.

These are the summarized steps for the online procedure for one person company registration, for more details you may get in touch with Swarit Advisors that are 24/7 hr available at your end.

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