One Person Company Registration

Check company name availability.

Registration Cost

10509 /-
 

Package Includes

MyCorporation Fee: 3999 ₹ 7999
1 DIN    : 1000
1 DSC    : 1000
Govt Fee ( 100000)    : 2970
Stamp duty (Delhi)    : 360
Taxes    : 1180

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Package Includes

Digital Signatures DSC for One Person Company Registration

1 DSC

What is DSC?
Director Identification Number required for One Person Company Registration

1 DIN

What is DIN?

MOA / AOA

What is MOA / AOA?

Digital Signature Certificate (DSC)

DSC is required for signing eletronic form on Mca website.this is compulsory for director.A licensed Certifying Authority (CA) issues the digital signature. Certifying Authority (CA) means a person who has been granted a license to issue a digital signature certificate under Section 24 of the Indian IT-Act 2000.

Director Identification Number (DIN)

Director Identification Number (DIN) is a unique identification number given to an existing or a potential Director of any company which is incorporated.

Memorandum of association/Articles of association

Memorandum of Association (MOA) is the supreme public document which contains all those information that are required for the company at the time of incorporation. It can also be said that, a company cannot be incorporated without memorandum. It contains the objects, powers and scope of the company, beyond which a company is not allowed to work, i.e. it limits the range of activities of the company. ‘Articles of Association’ shortly known as AOA, is also a major document which contains all the rules and regulations designed by the company. Below you can see the basic differences between the Memorandum of Association and Articles of Association.

Certificate of incorporation (COI)

A certificate of incorporation is a legal document relating to the formation of a company or corporation. It is a license to form a corporation issued by state government. Its precise meaning depends upon the legal system in which it is used

Permanent Account Number (PAN)

Permanent Account Number (PAN) is a code that acts as identification of Indians, especially those who pay Income Tax. It is a unique, 10-character alpha-numeric identifier, issued to all judicial entities identifiable under the Indian Income Tax Act 1961.

Tax Deduction and Collection Account Number(TAN)

In India, a Tax Deduction and Collection Account Number (TAN) is a 10 digit alphanumeric number issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.

Documents Required for One Person Company Registration

  • 1     Copy of Income Tax PAN (Permanent Account Number) of Main Director and Nominee Director.
  • 2     Copy of Address Proof (Voter Id, Passport, Driving License, Aadhar Card) of of Main Director and Nominee Director
  • 3     Latest passport size Photographs of Main Director and Nominee Director
  • 4     Registered Office Address Proof - Electricty Bill along with Rent Agreement / ownership proof of proposed registered office.
  • 5     Copy of Mobile bill, telephone bill, electricity bill or Bank Statement of 1 Promoter and 1 Nominee Director with Present address
Process Involved 20%

STEP 1

Incorporation Documents

STEP 2

Apply for Digital Signatures

STEP 3

Apply for DIN

STEP 4

Incorporation Form SPICe

STEP 5

Incorporation Certificate

STEP 6

PAN and TAN

Incorporation Documents are prepared and sent for Signatures.

Once ID proofs and signed documents are received, Digital Signature is applied for Directors

After DSC, application is filed with MCA for getting the DIN Number

Incorporation Application is prepared and filed with ROC

MCA check and Approves the Incorporation Application.

PAN is applied based on Incorporation Certificate after that TAN is applied Once we receive copy of PAN card

Advantages Of One Person Company (OPC)

1. Separate Legal Entity

A company is a legal entity and a juristic person established under the Act. Therefore a company form of organization has wide legal capacity and can own property and also incur debts. The members (Shareholders/Directors) of a company have no liability to the creditors of a company for such debts.

2. Uninterrupted Existance

A company has 'perpetual succession', that is continued or uninterrupted existence until it is legally dissolved. A company, being a separate legal person, is unaffected by the death or other departure of any member but continues to be in existence irrespective of the changes in membership.

3. Borrowing Capacity

A company enjoys better avenues for borrowing of funds. It can issue debentures, secured as well as unsecured and can also accept deposits from the public, etc. Even banking and financial institutions prefer to render large financial assistance to a company rather than partnership firms or proprietary concerns.

4. Easy Transferability

Shares of a company limited by shares are transferable by a shareholder to any other person. Filing and signing a share transfer form and handing over the buyer of the shares along with share certificate can easily transfer shares.

5. Owning Property

A company being a juristic person, can acquire, own, enjoy and alienate, property in its own name. No shareholder can make any claim upon the property of the company so long as the company is a going concern.

6. Limited Liability

Limited Liability means the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, in a limited liability company the liability of the members in respect of the company's debts is limited.

Compliances After Incorporation Of One Person Company (OPC)

1. Apply for Sales Tax / Service Tax Registration based on the nature of Business.
2. Filing Income Tax Return of Company on or Before 30th September every year.
3. To maintain proper Books of Accounts.
4. To Maintain Minutes Book and all statutory registers
5. To comply with SS-1 and SS-2
6. Get your account books Audited Every Year.
7. Filing of form MGT-7, Form AOC-4 every Year.
8. No intimation required to be given to ROC in case of First Auditors. Form ADT 1 to be filed within 15 days of 1st AGM of the Company


FAQS

1. Subscriber to memorandum is only 1 person. Directors can be more than 1 in number.
2. Member of OPC is not required to hold Annual General Meeting. Therefore, the financial statements in Form AOC-4 shall be filed with Registrar within 180 days from the closure of Financial Year.
3. OPC is required to do every compliance which a Private Company is required to do.
4. One Person can Open only 1 OPC and 1 Nominee Can become Nominee in Only 1 OPC.
5. Minimum Authorized Capital of OPC shall be 100,000 
6. Paidup Capital shall always be equal to Authorized Capital in case of OPC

FAQ

One Person Company is set to organize the unorganized sector of proprietorship firms. OPC will have incredible prospect and it will be embraced as a booming business model. For small to mid level entrepreneurs, OPC is the scope for them to grow and to get recognition globally even for their single person entity. Comparatively in OPC there will be less paper work. OPC allows a single person to run a company with limited liability, in case of a sole proprietorship.

One Person Company can be started with any amount of capital. There is no requirement to show proof of capital invested during the incorporation process..

In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover exceeds during the relevant period exceeds two crore rupees, then the OPC has to mandatorily convert into private or public company..

No. Only an Indian citizen and resident can form an One Person Company..

OPC can be registered only as a private company which means that all the provisions applicable to private company will be applicable to an OPC, unless otherwise expressly excluded in the Act or rules made there under..

OPC cannot be incorporated or converted into Section 8 Company (i.e. company with charitable objects, etc.) or carry out non-banking financial activities, including investment in securities of any body corporate..

There can be five types of OPCs that can be incorporated under the new Act, viz. 1. OPC Limited by Shares; 2. OPC Limited by Guarantee with Share Capital; 3. OPC Limited by Guarantee without Share Capital; 4. Unlimited OPC with Share Capital, and 5. Unlimited OPC with Share Capital. .

Annual Returns of an OPC must be signed by a company secretary and the director. In case there is no company secretary, the signature is required only from the Director. Mandatory rotation of auditor after expiry of maximum term is not applicable to an OPC..

Following sections are not applicable to OPCs- • Section 98 (Power of Tribunal to call meetings of members, etc.) • Section 100 (Calling of EGM) • Section 101 & 102 (Notice of Meeting & Statements to be annexed to Notice) • Section 103 (Quorum of Meetings) • Section 104 (Chairman of Meetings) • Section 105 (Proxies) • Section 106 (Restriction on Voting Rights) • Section 107 & 108 (Voting by show of Hands & by Electronic Mode) • Section 109 & 110 (Demand for Poll & Postal Ballot) • Section 111 (Circulation of Member’s Resolutions).

 

Only a natural person, who is an Indian citizen and resident in India shall be eligible to incorporate a One Person Company. Explanation: The term "Resident in India" means a person who has stayed in India for a period of not less than 182 days during the immediately preceding one calendar year..

A person can be member in only one OPC..

The Director of the OPC can be remunerated and contracts can be entered with it shareholders and its directors. Directors’ remuneration, rent and interest are deductible expenses which reduces the profitability of the Company and ultimately brings down taxable income of your business..

Following persona are disqualified to form an One Person Company: o A minor. o A foreign citizen. o Non-Resident. o A person incapacitate to contract. o Any other person apart from living person. .

An One Person Company can engage in any sort of business activities apart from Non Banking Financial Investment Activities including “investment” in securities of body corporates..

OPC (also Small Cos. and Dormant Cos.) is deemed to have complied with S. 173, if at least one meeting of the BOD is has been conducted in each half of a calendar year and the gap between two meeting is not less than 90 days. Section 173 and 174 (Quorum of Meeting of BOD) will not apply to an OPC in which there is only one director on its Board. Further, an OPC is not required to hold an AGM. .

Financial Statement of an OPC has to be approved by the Board and needs to be signed by only one director for submission to the auditor. It is to be noted that an OPC need not prepare Cash Flow Statement as part of its financial statement. The copy of such financial statement along with other documents etc. must be filed with the ROC within 180 days from the closure of the financial year. Report of the Board to be attached to the financial statement shall mean, in case of an OPC, a report containing explanations or comments by the Board on every qualifications, reservations or adverse remarks or disclaimer made by the auditor in his report..

If an OPC or any officer of such company contravenes the provisions of Co. Incorporation Rules, 2014, such contravening party will be punishable with fine which may extend to Rs. 10,000/- and with a further fine which may extend to Rs. 1000 for every day after the first during which such contravention continues..

Every company shall, at the first Annual general meeting appoint an individual or a firm as an auditor who shall hold the office from the conclusion of that meeting to the conclusion of its sixth annual general meeting and the manner and procedure of selection of auditors by the members of the company at such meeting shall be such as may be prescribed..