About One Person Company Registration in India
OPC Company Registration establishes a One Person Company, offering limited liability to a single entrepreneur. It involves obtaining a Digital Signature Certificate, proposing a unique name, drafting incorporation documents, filing with the Registrar, and complying with ongoing regulations, making it ideal for individual entrepreneurs.
→ Obtaining Digital Signature Certificate (DSC): The first step is to obtain a digital signature certificate for the proposed director(s) of the OPC. This is necessary for filing the incorporation documents electronically.
→ Director Identification Number (DIN) Registration: The proposed director(s) need to obtain a Director Identification Number (DIN) from the Ministry of Corporate Affairs. DIN is a unique identification number assigned to individuals who wish to be directors of a company.
→ Name Reservation: The entrepreneur must propose a unique name for the company, which should comply with the naming guidelines prescribed by the regulatory authority. Once the name is approved, it will be reserved for a certain period.
→ Drafting of Memorandum and Articles of Association: The Memorandum and Articles of Association define the company’s objectives, rules, and regulations governing its operations. These documents need to be drafted and signed by the promoter(s).
→ Filing of Incorporation Documents:The promoter(s) need to file various documents, including the Memorandum and Articles of Association, along with the application for incorporation, with the Registrar of Companies (ROC).
→ Authorized capital: The prescribed fees for incorporation and other statutory requirements need to be paid at the time of filing the incorporation documents.
→ Certificate of Incorporation: Once the ROC is satisfied with the documents and compliance, it issues a Certificate of Incorporation, officially recognizing the company as an OPC.
→ PAN and TAN Application: After incorporation, the company needs to apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for taxation purposes.
→ Compliance Requirements: Post-incorporation, the company needs to comply with various regulatory and statutory requirements, including maintaining books of accounts, conducting annual filings, and adhering to tax regulations.
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Key Features & Benefits
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One Person Company
In accordance with our laws, a single individual is permitted to establish a company for any lawful purpose. Specifically, our legislation categorizes OPCs as private companies, granting entrepreneurs the opportunity to operate their businesses as distinct legal entities. This framework enables entrepreneurs to enjoy the benefits of limited liability protection while maintaining separate legal status for their companies, facilitating business operations and financial dealings in a structured and legally recognized manner.
Single Member
Indeed, one of the defining characteristics of One Person Companies (OPCs) is that they can have only one member or shareholder, distinguishing them from other types of private companies. This solitary ownership structure allows individual entrepreneurs to establish a company with limited liability protection, without the need for additional shareholders. This feature simplifies decision-making processes and offers greater control to the sole owner over the company’s operations and direction.
Nominee
A distinctive feature of OPCs, setting them apart from other types of companies, is that the sole member must nominate a nominee during the registration process. This nominee would step in to manage the affairs of the company in the event of the sole member’s incapacitation or demise, ensuring continuity of operations and fulfilling statutory requirements.
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Process of One Person Company Registration
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01
Application for name availability in OPC
When applying for name availability in an OPC, it’s essential that the proposed name concludes with the term ‘(OPC) Private Limited’. It’s recommended to provide two name choices in order of preference. The application process will adhere to company name rules and guidelines, ensuring compliance with regulatory requirements.
02
Obtaining Digital Signatures for OPC Registration
To streamline the incorporation process for One Person Companies (OPCs), obtaining digital signatures is a crucial step. Through the MCA Portal, all registration documents are submitted online, necessitating the certification of directorship using digital signature certificates (DSCs). Notably, while the director is required to procure a DSC, the nominee’s involvement in this process is not mandated. This digital authentication ensures the legality and security of the registration procedure for OPCs.
03
Executing Company Registration Documents for OPCs
Following the approval of the company name, the next step in the incorporation of One Person Companies (OPCs) involves the execution of essential registration documents. These documents, including the memorandum of association (e-MOA) and articles of association (e-AOA), must be meticulously executed by the promoter in the prescribed format. Additionally, accompanying documents such as consent to act as director, nominee consent form (INC-3), affidavits, declarations, and KYC of promoters are required. Furthermore, providing a utility bill not older than 2 months for the registered office address completes the formalities, ensuring compliance and legality in the OPC registration process.
04
Submission of Company Incorporation E-Forms
To successfully conclude the company incorporation process, it is imperative to submit the necessary e-forms via the MCA website for approval. This step ensures compliance with regulatory requirements and facilitates the seamless progression of the incorporation procedure.
05
Issuance of Certificate of Incorporation
Upon approval of the submitted forms, the Ministry of Corporate Affairs issues the certificate of incorporation. This pivotal document, signed by the ministry, formalizes the completion of the incorporation process, marking the official establishment of the company.
06
Commencement of Business Operations After Incorporation
The initial subscribed and paid-up share capital is then deposited into the company’s current account. With this financial foundation in place, the promoter is empowered to initiate business operations and activities under the name of the company.
Documents Required For Private Limited Registration
Common mistake! entrepreneur pays less attention to company compliances.
Two name of company ( proposed )
Main object details
Capital details ( authorized and paid up)
The copy of pan card
Self –attested copy of identity proof (voter card, passport, driving license)
Self-attested copy of address proof (bank statement, mobile bill, telephone bill, electricity bill not older than 2 months)
Photograph of all subscribers and directors
Email & mobile number
Digital signature
Utility bill for registered office address of the company, such as electricity bill/property tax bill/ telephone bill/mobile bill/gas bill etc.
For rented property ( rent agreement )
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FAQ's
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What is a One Person Company (OPC)?
A One Person Company (OPC) is a legal entity where a single individual serves as the sole owner and operator of the company, providing limited liability protection.
Can an OPC voluntarily convert into a different type of company?
An OPC can only voluntarily convert into another type of company if it has been operational for more than two years.
What is the maximum number of directors that an OPC can appoint?
There is no specific limit mentioned for the number of directors in an OPC. It is permissible to appoint more than one director, with a maximum cap of 15 directors. In exceptional cases, exceeding 15 directors is achievable through the passage of a special resolution.
Who is eligible to establish an OPC?
Only a person who is both a resident of India and an Indian citizen is permitted to incorporate an OPC. Additionally, one individual is authorized to establish only one OPC.
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