About OPC Company Registration, Documents Required, Registration Process & More

One Person Company (OPC) is a legally recognized private limited company with just one owner and shareholder. The 2013 Companies Act introduces the idea of a one-person company in India.


One Person Company refers to a business with just one member.

What is OPC Registration? 

One Person Company (OPC), a newly formed company, maintains the benefits of sole proprietorship and the corporate state with one member serving as the Director and a nominee. The Companies Act of 2013 introduced the idea of OPC Registration to support business owners who are capable of launching their own ventures. All business owners must have OPC company registration

Benefits of OPC Registration

  1. Limited Liability:

No matter how much money the company owes in debt, the directors' personal property is always safe. Only the company's investments are used in OPC; the directors' personal assets are secure.


  1. Perpetual Existence:

An OPC would continue to exist since it would continue to have a separate legal identity that would be transferred to the nominee director.


  1. Easy to Sell:

OPC Company is easy to sell because of little documentation requirements.


  1. A single owner has complete authority over the business:

This fact facilitates prompt decision-making and action. However, OPC can choose up to 15 directors for official duties without giving them any share.


  1. Easy to get loans and funds:

One of the simplest types of corporate entities to run is an OPC. The Registrar of Companies must register very few ROC filings. Handling the annual general meeting and other required compliances is optional.


  1. Greater Credibility:

An OPC is more credible among suppliers and lending institutions since it must have its books audited annually.

Eligibility for OPC Registration

The following are the requirements for OPC Registration in India:

  • There can only be one shareholder and a maximum of 15 directors.

  • The death of a member or a change in ownership has no effect.

  • It is less complicated to set up and maintain in comparison.

  • The liabilities of its members are limited.

  • Very few documents are required.

  • No outside interference.

  • One person can incorporate only one OPC, not more than that.

Necessary Documents Needed For OPC Company Registration

The following list of documents is needed for online OPC company registration:

  • PAN card or a passport

  • In the case of foreign nationals, a passport, voter ID card, or driving license

  • A recent electric or gas bill

  • Sample of signature

  • Passport sized photograph 

Process for OPC Registration Online


Step 1: Apply for a Director Identification Number and a Digital Signature Certificate: 

The applicant must apply to obtain a Director Identification Number and a Digital Signature Certificate. This stage of OPC registration is very important.


Step 2: Application for Reserving Name

The candidate must then apply the name reservation process. Through the MCA portal, this is possible. When choosing a name for a one-person company, the applicant must submit Form INC-1. The words "OPC private limited" must come after the company name when starting an OPC. To apply to reserve the OPC's name, you can submit the SPICe 32 form on the MCA site. For the OPC company registration process, the applicant must use the MCA web portal's RUN (Reserve Unique Name) Service to submit an appropriate name.


Step 3: Required Documents

The following documents must first be prepared and delivered to the ROC:

  • MOA:

A Memorandum of Association (MoA) lays out the company's goals and objectives and the nature of the firm. 


  • AOA:

The company's running processes are outlined in the Articles of Association (AoA).


Since there is only one Director and one board member, in the event of his incapacity or death, a candidate selected on his behalf must take over the business. His written authorization in Form INC - 3 would also be required, besides his PAN and Aadhar cards.


Step 4: Filling Forms with MCA

Along with the DSC of the Director and Professional, all of these documents will be linked to the SPICe, SPICe-MOA, and SPICe-AOA forms and posted to the MCA website for approval. When the company was incorporated, an automated Pan Number and TAN were generated. You need to submit separate applications to obtain a PAN and TAN.


Step 5: Issuance of a certificate of registration

Your OPC company registration is complete, and you are now free to conduct business after the Registrar of Companies (ROC) issues a certificate of incorporation following verification.

How can Lawgical India help in OPC Registration online?

We have a team of professionals who offer a hassle-free and error-free OPC registration online service in India.


Our professionals have been registering One Person Companies regularly and are up to date on all MCA's registration requirements. Contact us immediately to get your OPC registration within a few working days.

Comments

Popular posts from this blog

More about Import Export License Registration

Four Types Of Partnership Firm

What Are The Types Of Company Registration?