One Person Company Registration

One Person Company Registration
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One Person Company (OPC) registration is a legal process that allows a single individual to establish and operate a company. The concept of OPC was introduced to provide a structure where entrepreneurs could enjoy the benefits of a private limited company while being the sole owner and director. Here are the key steps involved in the registration of a One Person Company:

### 1. **Obtain Digital Signature Certificate (DSC):**

– The first step is to obtain a Digital Signature Certificate for the proposed director. DSC is required for filing the registration documents online. It serves as a secure digital identity of the director.

### 2. **Director Identification Number (DIN) Application:**

– The individual intending to become the director of the OPC needs to apply for a Director Identification Number (DIN). DIN can be obtained by filing Form DIR-3 online with the Ministry of Corporate Affairs (MCA).

### 3. **Name Reservation:**

– The next step is to choose and reserve a unique name for the OPC. The name should comply with the naming guidelines provided by the MCA. The name can be reserved by filing the RUN (Reserve Unique Name) form online.

### 4. **Drafting the Memorandum of Association (MOA) and Articles of Association (AOA):**

– The individual needs to draft the MOA and AOA, which are the legal documents defining the objectives, rules, and regulations of the company. These documents need to be filed with the MCA.

### 5. **Filing OPC Registration Documents:**

– Prepare the necessary documents, including the consent of the nominee and other required declarations. File the registration documents, including the MOA, AOA, and other supporting documents, with the MCA through the SPICe (Simplified Proforma for Incorporating Company Electronically) form.

### 6. **Payment of Fees:**

– Pay the prescribed registration fees online through the MCA portal. The fees depend on the authorized capital of the company.

### 7. **Verification and Approval:**

– Once the documents are submitted, they will be verified by the MCA. If everything is in order, the Registrar of Companies (RoC) will approve the registration, and a Certificate of Incorporation will be issued.

### 8. **PAN and TAN Application:**

– After receiving the Certificate of Incorporation, apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the OPC.

### 9. **Bank Account Opening:**

– Open a bank account in the name of the OPC. Submit the Certificate of Incorporation, MOA, AOA, and other required documents to the bank.

### 10. **Compliance and Annual Filings:**

– Comply with the ongoing statutory requirements, including holding an annual general meeting, filing annual financial statements, and maintaining other statutory records.

It’s important to note that the nominee mentioned during the registration process becomes the owner of the OPC in case the original owner (sole member/director) becomes incapacitated or dies. The nominee’s consent and other details must be provided during the registration process.

The registration process for a One Person Company is typically streamlined and can be completed online. It’s advisable to seek professional assistance to ensure compliance with all legal requirements and to facilitate a smooth registration process.

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