Incorporation of One Person Company

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See What’s included ?

  • Registration of 1 Director and Minimum Rs. 1 Lac Share Capital
  • 1 DSC and 1DIN
  • Name Approval in RUN (Reserve your unique name)
  • Incorporation Certificate, EMOA & EAOA
  • PAN, TAN
  • Filing of Spice Form

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What are the documents required for registration of OPC?

Below are the documents which are necessary for the registration of an OPC, these documents are to be given by the director of the one-person company: -
  • PAN card or scanned copy of passport in case of foreign nationals and NRI
  • Scanned copy of passport, voter ID or driving license. 
  • Copy of current bank account, phone or mobile bill, electricity or gas bill.
  • Passport size photographs
  • Signature or thumb impression 
  • Memorandum of Association 
  • Articles of Association 
  • Affidavit and consent of the proposed director
The above documents need to be self-attested. In case of an NRI and a foreign national, the documents have to be compulsorily notarized.  

Authority for registration of OPC

The RoC (Registrar of Companies) is the appropriate authority for registering the OPC.

What is a one-person company (OPC)?

The concept of the one-person company was brought to India by the Companies Act,2013 to assist the entrepreneurs who on their own are capable enough to start a venture allowing them to create a single person economic entity.   

What are the advantages of having an OPC?

The following are its advantages: -
  • Can have more than 1 director but shareholders cannot be more than 1
  • OPC is not affected by the death of a member
  • OPC is effortless to set up and maintain
  • Under OPC liability of the members is restricted
  • There is not much paperwork required for registration and incorporation 
  • OPC enjoys no interference from third parties.

What is the eligibility criteria for the incorporation of OPC?

Below are the eligibility criteria:
  1. The entrepreneur desirous of incorporating an OPC must be a citizen of India and resident in India.
  2. Legal entities like LLP and company cannot be an OPC.
  3. A nominee is compulsory to be selected by the promotor while the process of incorporation 
  4. The minimum authorized capital must be Rs 1 Lakh.
  5. Minors, foreign citizens, any person incapacitated by contract cannot be members of an OPC
  6. If the paid-up capital is more than Rs 50 lakhs or if the turnover is above 2 crores OPC cannot exist.
  7. The OPC must have at least 1 shareholder/Nominee/Directors.

Fees required for registration of OPC

The fees of the government for the purposes of registration of an OPC and a small company are provided as follows:  
Nominal share capital limited to Rs. 10,00,000 Rs 2000
Nominal share capital between Rs.  10,00,000 to Rs 50,00,000 Rs 2000; Rs 200 will be added for every 10,000 or part thereof of nominal share capital.
Nominal share capital between Rs. 50,00,000 to Rs 1 crore Rs 1,56,000. Rs 100 will be added for every Rs. 10,000 or part thereof of nominal share capital
Nominal share capital amounts to Rs 1 crore and above Rs 2,06,000. Rs 75 will be added for every Rs. 10,000 or part thereof of nominal share capital to a maximum of Rs 250 crore.
It is to be noted that the fees for companies without share capital is fixed to Rs. 200 irrespective of their turnover.  

Procedure for registration of OPC

The process for registration of OPC can be summarised as follows:  
  • Digital Signature Certificate (DSC): The first step is to obtain a DSC, the director would require documents for address proof (Aadhar Card, Pan Card etc.) It is mandatory because all company registrations nowadays are done digitally.
  • Director Identification Number (DIN): The director has to fill the SPICe form to avail DIN. The details like name and address proof of the director have to be submitted here. In situations where a company already existed, FORM DIR-3 has to be filed. 
  • Name approval application: The name for company registration can be approved either the RUN web service of MCA (ministry of corporate affairs) or Form SPICe32. A preferred name with signature has to be given. The ministry will decide to approve that name. The company’s name once approved shall affix private limited at the end for example XYZ (OPC) PVT. LTD.
  • Filling the forms with MCA: To complete the OPC registration, the above-mentioned documents will have to be attached with the SPICe form, SPICe-MoA and SPICe-AoA along with DSC.
 
  • Issuing of incorporation certificate: Once the verification of the documents uploaded is done the RoC (REGISTRAR OF COMPANIES) will issue a certificate of incorporation. Thereby, the business shall commence. 

Compliances needed to be followed post OPC registration

Yes, post OPC registration there are certain compliances which are as follows:
  • Minimum 1 board meeting has to be held in 6 months. The time gap between meetings shouldn’t be less than 90 days. 
  • The books of accounts have to be mentioned properly.
  • Statutory audit of financial statements has to be done timely
  • Income tax returns have to be filed every 30th September
  • Financial statements in Form AoC-4 and RoC annual return in Form MGT7 have to be filed.

How Taxolawgy can help you register a One Person Company?

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