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ONE PERSON COMPANYREGISTRATION

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KNOW ALL ABOUT ONE PERSON COMPANY REGISTRATION

What is ONE PERSON COMPANY ?


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.

One Person Company, which is a new concept in India, already sees a big boom. A huge impact on the economy and development of nation is expected. It gives opportunities to many and will therefore bring creative and young minds in front of everyone. So, if you want to start up your own business, you don’t have to worry about all the complex and tedious processes.

Choose OPC because

  • Only one member is required.
  • Unaffected by 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

Register For GST

 
 
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Company Registration Package

DIN for 1 Directors

Digital Signature Token

Company Name Approval

MOA + AOA

Incorporation Certificate

New Incorporation Kit

Company PAN Card

Company TAN/TDS Number

PROCEDURE FOR COMPANY REGISTRATION?

Complete our Simple Form

 
You need to fill our simple company registration questionnaire and submit documents.
 

START

Obtain DSC and DPIN from us

 
After submitting your documents we will provide you with DSC and DPIN.
 

1 WORKING DAYS

Verification and Name Approval

 
Details provided by you will be verified and then we shall apply for name approval.
 

1 WORKING DAYS

Document Submission

 
We will create all the required documents and file them with ROC on your behalf.
 

2 WORKING DAYS

DOCUMENTS REQUIRED FOR COMPANY REGISTRATION?

TO BE SUBMITTED BY DIRECTORS & SHAREHOLDERS

    • Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
    • Scanned copy of Voter’s ID/Passport/Driver’s License
    • Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
    • Scanned passport-sized photograph
    • Specimen signature (blank document with signature [directors only])

FOR THE REGISTERED OFFICE

  • Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
  • Scanned copy of Notarised Rental Agreement in English
  • Scanned copy of No-objection Certificate from property owner
  • Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
 

ELIGIBILITY FOR OPC REGISTRATION?


 

Only a natural person who is a citizen of India and resident in India:

a) Is eligible to incorporate an OPC

b) 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

5 STEPS FOR COMPANY REGISTRATION

Step 1. Obtain DSC and DIN:The proposed directors must obtain a Digital Signature Certificate(DSC) from 8 authorised DSC makers.

Step 2. Reservation of name:An application for the reservation of a suitable name must be made in Form No. INC-1.

Step 3. 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.

Step 4. 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.

Step 5. 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.

Step 6. 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.

Step 7. Affidavit of Subscriber and the director: The affidavit must be submitted by sole member who has subscribed to the memorandum and named in the articles in Form No.INC-9.

Step 8. Particulars of Subscriber: The sole member must file the particulars of subscription with the Registrar at the time of incorporation.

Step 9. Nomination by the sole member:

(1) The subscriber to the memorandum of a One Person Company must nominate a person, after obtaining 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.

Step 10. Declaration by professionals: The declaration by an Advocate, a Chartered Accountant, a Cost accountant or Company Secretary in practice shall be in Form No. INC-8.


 

CONCERNS RELATED TO OPC


    • Minimum authorised share capital required for One Person Company having share capital is Rs.1,00,000/-.
    • Minimum and maximum number of members for One Person Company is one only.
    • The subscriber to the Memorandum must make the payment for the total amount of shares subscribed by him to the company upon incorporation.
    • It is a separate legal entity yet only one person is responsible for the workings of the company. A total contrast from what Sole Proprietorship offers.
    • There can be only one member at a time. However, one nominee is mandatory to be appointed. This member and nominee cannot be a minor.
    • An OPC can be limited by guarantee or limited by shares or unlimited company.
    • An OPC limited by shares must comply with following requirements:

      Must have a minimum [paid up share capital of INR 1 Lac.

      Shares will not be allowed to be transferred to anyone else.

      An OPC is prohibited from giving any invitations to public to subscribe for the securities of the company.

    • No OPC can voluntarily convert into any other kind of company within two years from the date of incorporation of One Person Company, except when the threshold limit of paid up share capital, being fifty lakh rupees, is crossed or its average annual turnover during the relevant period exceeds two crore rupees.
    • An OPC cannot convert into a company registered under OPC.
    • An OPC is required to give a legal identity by specifying a particular name under which the activities of the company can be carried on. The words ‘One Person Company’ must be mentioned below the name of the company, wherever the name is affixed, used or engraved.
    • An OPC is subject to the same taxes as a Private Limited Company.
    • When an OPC limited by shares or by guarantee enters into a contract with the sole member of the company, who is also the director of the company, the terms of contract or offer must be recorded in writing or contained in a memorandum or recorded in the minutes of the Board meeting held next after entering into the contact.
    • An OPC must Inform the Registrar about every contract entered into by the company with the sole member of the company within a period of fifteen days from the date of approval.

FACTORS TO CONSIDER IN COMPANY NAME SELECTION


The name of your company is very important. It is the first impression to your buyers, suppliers and stakeholders. It should, therefore, be relevant, suggestive and attractive. There are various factors that you should keep in mind while naming for your company

Short & Simple

The name should be concise and not be too long. People should be able to pronounce it easily and they should be able to remember your company’s name the first time they hear or read it.

Meaningful

The name of your company should be related to your business. It should fit the company’s branding. For example, Infosys refers to information systems or IT technologies.

Unique

Name of your company should not be same or identical to an existing company or trademark. You can go to search.virtualauditor.in to check if your company name is identical to others. You should ideally avoid plural version e.g., “Flipkart’s” or changing just letter Case, spacing or punctuation marks in an existing company name

Suffix

OPC’s are not required to end their name with “Private Limited” or “Limited”.

Should not be illegal / offensive

The name of your company should not be against law. It should not be abusive or against the customs and beliefs of any religion.

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