Registering a One Person Company (OPC) in India is a streamlined process that provides a solo entrepreneur with the benefits of a corporate structure without needing multiple partners or shareholders. Here’s a detailed guide to help you through the entire process, from choosing your company name to receiving your Certificate of Incorporation.
Step 1: Obtain a Digital Signature Certificate (DSC)
Before starting the registration process, the first step is to obtain a Digital Signature Certificate (DSC). The DSC is required to sign electronic documents during the registration process. It ensures that the documents are genuine and not altered.
How to obtain DSC:
- A DSC is issued by certifying authorities recognized by the government.
- You can apply online or through a service provider.
- You will need to provide a scanned copy of your photo ID proof (Aadhaar card, passport, voter ID) and a self-attested photograph.
Step 2: Obtain Director Identification Number (DIN)
A Director Identification Number (DIN) is required for every director of the company. The director of an OPC is the sole shareholder and director, so this step is essential.
How to obtain DIN:
- Apply for a DIN by submitting the Form DIR-3 online through the MCA (Ministry of Corporate Affairs) portal.
- You will need to provide a scanned copy of the director’s photo ID proof (Aadhaar, passport, voter ID) and proof of address (utility bill, bank statement, etc.).
- The DIN is typically issued within 1–2 business days if all documents are in order.
Step 3: Choose and Reserve the Company Name
The next step is to choose a unique and appropriate name for your OPC. The company name must comply with the naming guidelines set by the Ministry of Corporate Affairs (MCA). You can check the availability of the name using the MCA portal.
How to reserve the name:
- Use the RUN (Reserve Unique Name) service on the MCA website to check if your desired name is available.
- You can suggest up to two names, along with the business activity or nature of your business.
- After the name is approved, it will be reserved for 60 days.
Step 4: Draft the Memorandum of Association (MOA) and Articles of Association (AOA)
Every company, including an OPC, must have a Memorandum of Association (MOA) and Articles of Association (AOA). These are legal documents that define the company’s objectives, structure, and operations.
- MOA: Specifies the main business activities the company will be engaged in. It defines the scope of the company’s operations.
- AOA: Contains the rules and regulations governing the company’s internal management.
For OPC, these documents need to be drafted carefully to comply with the legal requirements.
Step 5: Submit the Incorporation Documents
Once the name is reserved, and the MOA and AOA are ready, the next step is to submit the incorporation documents with the Ministry of Corporate Affairs (MCA) through SPICe+ (Simplified Proforma for Incorporating Company electronically). The incorporation documents include:
- Signed MOA and AOA: These must be signed by the director.
- Form SPICe+: A single form for registration of OPC.
- Proof of Office Address: A utility bill (electricity, water) not older than 2 months, with the address of the registered office.
- ID Proof and Address Proof of Director: Aadhar card, passport, voter ID, or any government-issued photo ID, along with a proof of address (bank statement, utility bill).
Step 6: Filing with MCA and Payment of Fees
The next step is to file the SPICe+ form along with all necessary documents on the MCA portal. You will also be required to pay the company registration fees as per the authorized capital of the OPC.
How to file:
- Go to the MCA portal and log in with your credentials.
- Upload all documents, including the signed MOA and AOA, proof of address, ID proofs, and the payment receipt.
- Submit the application and wait for the MCA’s approval.
Step 7: Receive Certificate of Incorporation
Once the MCA has reviewed and verified all your documents, they will approve the application. After approval, the Certificate of Incorporation will be issued, and your One Person Company is officially registered.
The certificate will include the Company Identification Number (CIN), which serves as a unique identity for the company.
Step 8: Apply for PAN and TAN
After receiving your Certificate of Incorporation, the next step is to apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN). These are necessary for tax compliance and filing returns.
- PAN is required for all financial transactions.
- TAN is required for deducting and remitting tax at source (TDS) on behalf of the company.
You can apply for both PAN and TAN online through the government’s official websites.
Step 9: Open a Bank Account
Once your OPC is incorporated, the next step is to open a bank account in the company’s name. You will need the Certificate of Incorporation, PAN, TAN, and other documents like your ID proof and address proof to complete the account opening process.
This bank account will be used for business transactions and for depositing share capital.
Step 10: Comply with Annual Filing Requirements
After successfully registering your OPC, it’s important to keep in mind that you must comply with various annual filing requirements under the Companies Act, 2013. These include:
- Filing Annual Returns (Form AOC-4 and MGT-7).
- Holding the Annual General Meeting (AGM): Though OPCs are exempted from the requirement to hold a physical AGM, you still need to file the necessary resolutions.
Failure to comply with these filing requirements can lead to penalties or late fees.
Conclusion
Registering a One Person Company (OPC) in India is a relatively straightforward process that provides you with a corporate structure while keeping things simple. As a sole entrepreneur, OPC offers limited liability protection, a separate legal identity, and easier compliance requirements compared to other business structures.
At OnePersonCompany.in, we simplify the OPC registration process for you, from name reservation to compliance, ensuring that you can focus on growing your business without worrying about the paperwork.
If you’re ready to register your OPC or need assistance, visit OnePersonCompany.in today and get started on your entrepreneurial journey.
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