One Person Company Registration
OPC Registration is one of the best services of Smart Auditor, and we serve our services over Trichy, Salem and Erode. The OPC is the up-to-date form of business entity introduced by the companies Act, 2013. The main requirements of one person Company are that there should be only one person can able to start a company. Though, the nominee has to get nominated. The OPC is normally suitable for small business enterprises which having turnover Rs.2 Crores and the capital amount is Rs.50 Lac. There is more than 1 director and one of them must be an Indian Resident. The main drawbacks of an OPC are there are no FDI and only Indian citizen can able to form such type of a company.
In OPC there are no options for contributing to employee stock options or equity funding. The concept at first introduced in behalf of Dr.J.J.Irani under the leadership of an expert committee, 2005. This new concept was really helpful for them to recover from the hesitant projects. At the earlier decade OPC give the chance to the people who were in jinx before starting their own dream companies. OPC not only gives the opportunity to start the business also give the chances to fetch banks, loans, legal requirements, accessing the trade &market etc.
Process required for the OPC Incorporation
There are six steps need to follow for the one person company Registration. Let us discuss about each steps in detail.
- Apply for DSC
- Obtaining the DIN
- Application for the name approval for the company
- Attaining the relevant documents
- Filing with MCA Portal
- Generating the incorporation certificate
There is no need to obtain the DIN and DSC to check the name availability under the RUN WEB Service. All we need to do is account login on MCA Portal.
1) Apply for Digital Signature Certificate
- The first step for the incorporation of an OPC is to obtain the DSC of the appropriate director with the below details.
- Address proof, Aadhaar card, PAN Card, Photography of the director, Email ID and Phone Number.
2) Applying for Director Identification Number (DIN)
After getting the DSC the next step is to make the Director identification Number of the proposed director by using his name and address details. These operations are carrying on SPICe Form. Nowadays the DIN for 3 directors can be applicable at the same SPICe Form.
3) Application for name approval
After obtaining DIN and DSC the next step is to obtain the company name which suits to what is based on the company. The name should be in the format of “ABC (OPC) Private Limited”. There are two options for getting the name as certified. These two ways include making an application in SPICe 32 or using the RUN Web Service of MCA. Though, the government announced that from March 23, 2018 onwards we can submit two proposed name and one re-submission while reserving Unique Names for the business.
The following documents are mandatory to submit to the ROC.
- Memorandum of Association: These are some objects followed by the company which is going to incorporate.
- Article of Association: The AoA means certain By-laws which the company wanted to operate.
- There are only 1 director and a member. The nominee should appoint behalf of the director in consent of Form INC-3 along with his PAN card and Aadhaar card. This is mainly because if the director is unable to do his duty or he died the nominee further need to do all the duties of the Director.
- Proof of the registered office and the NOC from the landlord along with the proof of the ownership.
- The agreement and affidavit of the proposed director of Form INC-9 and DIR-2.
- The declaration statement from the professionals certifying that all the compliances have been made.
- Filing the forms with MCA: all the documents of the company incorporation are attached to SPICe Form, SPICe-MOA and SPICe-AOA along with DSC of the directors and then upload to the MCA for approval.
After completing all the uploading process, Form 49A and 49B will generated for the PAN and TAN and that also uploaded to the MCA after sticking the DSC.
- Generating the Incorporation Certificate: After completing all the above requirements the Registrar of Companies (ROC) issues the certificate of Incorporation as soon as possible regarding the verifications. Afterwards you can commence your business.