One Person Company Registration Fees and Documents Required to Register OPC
- Published On: 06/02/2021 12:00 am
One Person Company Registration in India
The One Person Company registration structure in India was initiated by the Companies Act of 2013 to help entrepreneurs who are capable of starting a venture on their own by encouraging them to create a single economic entity. One of the main advantages of a One Person Company (OPC) is that an OPC can only have one member, while a minimum of two members is required to form and sustain a Private Limited Company or a Limited Liability Partnership (LLP). Similar to an organization with private guidelines, One Person Organization is a specific legal entity from its promoter, offering its sole shareholder with limited liability protection, while having a business continuity and being easy to incorporate.
One-person Company Registration (OPC) in India is one of the easiest techniques of ownership for corporate entities. OPC is a sole-ownership and corporate enterprise combination. Multiple concessions have been provided under the Companies Act for compliance requirements. It is a form of the company where the conditions for regulation are smaller than a private company. OPC registration is a very convenient and inexpensive process.
One Person Company (OPC) Process of Registration
1.Identification Number for Directors for 1 Director
2.Signature Digital Certificate for 1 Director (If the shareholders are different from directors, then additional DSC is required for Shareholders)
3.Company name selection advice (Need support in selecting your company name)
6.Name Approval Certificate
8.Filing Forms with MCA
9.Issue of a certificate of Incorporation.
Registration of Companies
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Name of Business (RUN)
Identification Number for Directors for 1 Director
Signature Digital Certificate for 1 Director (If the shareholders are different from directors, then additional DSC is required for Shareholders)
Company name selection advice (Need support in selecting your company name)
Memorandum & Articles
Forms from SPICe+
From PAN & TAN
Registration from ESI
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Documentation Needed for Director & Candidate
ID Proof-Id / Passport / Driving License for Voters ( Front & Back)
Address Proof-Latest transaction / telephone bill / cell bill bank statement with address mentioned
Passport Size Photograph
Documents for Registered Address of Office
Anyone: New bill for electricity / gas / telephone bill
Need for One Person Company (OPC) Registration
In a one-person company, there should be at least one (1) director (OPC). It is possible to designate only individuals as directors of a company. OPC can have more than one director and there needs to be no shareholder for the director(s)
To become a director of a company, an individual should hold a valid DIN. In the case of directors who do not have a DIN, the Ministry of Corporate Affairs shall assign the Director’s Identification Number (DIN) in the company registration process to the Director.
A stockholder is someone in a company who has shared. A piece of the company is controlled by stockholders. Your stock is likely worth a lot of money if you are a stockholder in the newest, greatest, financially sound start-up company.
Number of Persons
An OPC may be registered in India only by one person, who functions as the company’s directors/shareholders. The maximum number of OPC directors is 15 and the number of shareholders cannot exceed one.
In the case of another person or beneficial owner or original shareholder, the nominee shareholder shall apply to the holder of the stock. A nomination shall be a mandate issued by the shareholder to grant the legal title of the shares to the defined candidate with whom the shares are invested upon the death of the shareholder or the original shareholder. A nominee is a person identified in this mandate who is in the mandate mentioned.
A proposed shareholder of the OPC should have a valid Digital Signature Certificate issued under the Information Technology Act 2000 by the Certifying Authority (CA). No digital signature is required by the nominee shareholder.
Authorized share capital is the number of units of stock (shares) that can be distributed by a company as set out in its association memorandum or its articles of incorporation. Management often does not fully use authorized share capital to leave room for future issuance of additional stock in the event that the company needs to raise capital quickly. Another reason to keep shares in the treasury of the company is to sustain a controlling interest in the business.
Subscribed share capital is that portion of the share capital issued that investors have subscribed to. In simple words, investors may or may not subscribe to all of their shares when a company issues a fraction of its authorized share capital. The part of issued share capital that investors have subscribed to is therefore known as subscribed share capital.
Paid-up Equity Capital is the amount of money received from shareholders from a company in exchange for stock shares. Paid-up capital is obtained when a company buys directly to customers its shares in the primary market. No additional paid-up capital is generated as shares are purchased between investors on the secondary market, as proceeds of such sales go to the selling shareholder.
Choosing a Company Name
The selection of a company name is important for a company’s speedy registration. The Ministry of Corporate Affairs (MCA) regulates the company name approval and allotment process in India in accordance with the Company Name Availability Guidelines provided under the Companies Act 2013.
As per the Brand Name Availability Guidelines prescribed by the Ministry of Corporate Affairs, promoters must select a company name.
Registered Office Proof
Authorization by the landlord (name referred to in the Electricity Bill or Gas Bill or Water Bill or Receipt of Property Tax or Sale Deed) to use the premises as the registered office of the company. This is generally referred to as Landlord NOC; and Proof of any utility service, such as telephone, fuel, electricity, etc., showing the address of the premises on behalf of the principal or owner
RUN is the name of an online application to be used to submit an application for the ROC’s approval of the proposed company name. It is a web-based application where two names can be filed with a note on the importance of the name and the business activities in order of priority.
We need to file the formal application for incorporation of the Company in SPICE form to the ROC with appropriate documents as attachments after the OPC’s name approval. MOA, AOA of the Company, KYC documents of the promoters, and proof of the registered address with NOC from the landlord are the documents to be attached to the Spice Form. The promoters’ DSC is then used for the signature of the application.
Submitting the Forms on MCA Portal
The final stage of the OPC registration is to issue a Certificate of Incorporation to the One Person Company after the Spice Form has been filed to ensure the OPC registration application. The issuing of the certificate of registration for OPC is firm evidence of the ROC’s registration of the Company.
Pan & Tan Allotted by Central Registration Centre (CRC)
The subject of Pan Number and TAN is now automatically sorted out at the time of the company’s incorporation. No need to make certain separate application is important. The PAN and TAN numbers are printed on the certificate of incorporation itself, and E-Pan and Tan documents are provided via email after the company’s registration.
One Person Company registration process is simple but a professional would be needed to complete the same in a short time and without any blunder. TaxxInn has an experienced team for OPC registration which registered more than 10,000 OPC and consulted thousands of OPC partnerships throughout India. Get a free consultation now.