How to Register One Person Company in India

1. How to Register One Person Company in India One Person Company is a type of private limited company but with single ownership, which means there is only one person that is required to start the One Person Company Registration. This is the best and the alternate option of a sole proprietorship firm, in this the owner or shareholder enjoys all the features of a private limited company without sharing the ownership and profit. This is the new concept introduced under the companies act 2013 to promote the single owner company because earlier to start the private limited company minimum of 2 persons was required but now a single person can register a private limited company under the name of OPC. The Ministry of Corporate Affairs (MCA) administers the company through the Registrar of Companies (ROC) in whose jurisdiction the registered office of the company is situated. Only one person is required as a director and shareholder and one person as a nominee to start the company registration procedure, both director and shareholder can be the same person as well as different and one. There is no minimum capital required to start the company but the maximum paid-up capital can be Rs. 50 Lakhs, if the limit exceeds then the company has to convert itself from OPC to either private limited or public limited company. After registration the company has to do mandatory annual compliance every year to maintain the active status in the MCA database, it includes Income Tax Return filing, Director’s KYC, preparation of balance sheet, profit & loss A/c, Audit Report, Auditor Appointment although there is no need to conduct the annual general meeting.

2. Procedure to Register One Person Company: 1. Name Approval: A name reservation application shall be made first to start the registration procedure, if the name is approved then it will be reserved for 20 days only. In one application two names can be applied on a preference basis and one chance of re-submission is allowed if both names are not approved by the registrar. The name must have the word “OPC Private Limited” at the end of the name of the company. Digital Signature Certificate: The director and shareholder must have a digital signature to sign the forms. Digital Signatures are the electronic signature which is used for signing the forms, filing the returns, applying for tenders, etc. it is equivalent to the physical signature and has the same validity. Preparation of Documents: After name approval, the documents shall be prepared and they will be signed by the director, nominee and shareholder. Documents like director’s & nominee’s consent, MOA, AOA, NOC, etc. Submission of Final Form: After preparation of all documents the final form shall be filled with all relevant information and signed by the DSC. Once everything is completed the form shall be submitted to the registrar along with fees. Issuance of Certificate of Incorporation: If all the information and documents are correct then the registrar will issue a certificate of incorporation along with PAN, TAN of the company and DIN of the director. Once the company is registered the registrar will enter the name of the company in their database. 2. 3. 4. 5. For more details visit our website:- www.registerexperts.com