The Concept of OPC has come up in the limelight with the introduction to the companies act 2013, in order to encourage the young professionals to start their own business and become their own boss without sharing even a single penny with others. An OPC has features of a Company and the benefits of the sole proprietorship. Earlier if a person had an intention to establish a business, then he or she had an only option to opt for a sole proprietorship. According to Section 2 (62) of the Companies Act 2013, a company can be incorporated formed with just 1 director or 1 member. One Person Company registration in India is a type of entity where there are least compliances as compared to that of a Private Limited Company.
A One Person Company Registration in India can be obtained only under the Companies Act 2013 with just one single member and one Director. The Director and member can be the same person. Any individual who may be a resident or Non-resident Indian can register an OPC in India. Let’s know how to register an OPC in India and what are the documents require to register an OPC. We will cover both the topics in this write-up.
HOW TO REGISTER AN OPC IN INDIA?
Step-1: Deciding the Main Objects
The incorporation process begins with deciding the Main Objects of the Company. The main objects are of utmost importance as it decides the activities which are to be carried out by a company. The proper Due Diligence must be there while deciding on the objects as any activity outside the purview of the main objects becomes null and void.
Step-2: Name Reservation of the Company
The second step involves the sole shareholder filing the application for the name reservation of the company. It becomes the most important stage for any business to decide the name for its business as it will be known by that name only for a prolonged period and becomes a brand thereafter.
Hence, once the name has been decided, one has to proceed with the filing of SPICe+ Part A for reservation of the name of the company along with a fee of Rs. 1000/-
Prerequisites for filing of Name Reservation.
• Type of Company to be incorporated
• NIC Code (Industrial Activity Code)
• Main Objects of the Company
• Name of the Company with which the company wishes to get itself registered.
Once the name has been approved by the MCA, the same shall be available for a period of 20 days from the date of approval subject to the filing of an extension for name reservation.
Extension Durations –
Further 20 Days Rs. 1000/- (40 days in total)
For Additional 20 Days Rs. 2000/- (60 days in total)
It is pertinent to note that the name reservation is not a mandatory process, and the entire incorporation process can be made in a single go.
Step-3: Incorporation
Form SPICe+ (Simplified Proforma for Incorporation of Companies Electronically) is the form for incorporation of ‘One Person Company’ which has to be submitted to the registrar along with the following forms –
| SPICe+ MOA in Form INC-33 – Memorandum of Association |
| SPICe+ AOA in Form INC-34 – Articles of Association |
| AGILE-PRO-S – Application for GSTIN, ESIC Registration plus EPFO Registration, Profession Tax Registration, and Opening of Bank Account and Shops and Establishment Registration) |
| INC9 – Affidavit from the Subscriber and First Director to the Memorandum |
Documents required for the Incorporation of One Person Company
| 1. | A copy of the PAN Card of the Member and Nominee. |
| 2. | Proof of Identity in the form of Voter ID/Passport/Driving License of the member and the nominee |
| 3. | Residential Proof in the form of Bank Statement/Mobile Bill/Telephone Bill of the member and the nominee. |
| 4. | Color Photo of Member and the Nominee |
| 5. | Consent from Nominee to become a member in the event of death or incapacity to contract of the subscriber in Form INC-3. |
| 6. | Specimen Signature of Authorized Signatory for ESIC/EPFO Registration. |
| 7. | Utility Bill (Not older than 2 months) along with Rent Agreement (if required) as a Proof of Registered Office Address. |
| 8. | In case the property of the Registered Office address is owned by a third party, a No Objection Certificate shall also be required to be attached. |
| 9. | Consent from the directors to act as director and their interest in other entities in Form DIR-2 and DIR-8. |
| 10. | Optional attachments |
Step: 4 Payments
Once the forms have been filed along with the above-mentioned documents and attachments, the company shall make a payment of Rs. 131/- for the PAN and TAN and Stamp Duty on SPICe+, MOA, and AOA which is subject to State.
Step:5 Final Incorporation Certificate
After completing all the formalities, the forms so filed get scrutinized by Central Registration Center (CRC), and after the satisfaction of the department the forms gets approved, and Certificate of Incorporation is being issued.
If you also want to get your OPC registration, but worried about the all the legal compliances and procedures. Don’t stress, we at Compliance Calendar LLP have the dedicated group of professionals who are experts in the OPC Registration Process. If you have any query, feel free to reach us at [email protected] or call us at 9988424211.
