What Is One Person Company – It is a new concept that has been introduced in the Companies Act 2013, about the One Person Company (OPC). In a Private Company, there is a minimum of 2 number Directors and a minimum of 2 Members are required whereas in a Public Company, a minimum number of 3 Directors and a minimum number of 7 members. A single person will not be incorporated into a Company previously.
How to get registered for a One Person Company
1. Apply for DSC: The firstly main Step is to obtain the Digital Signature Certificate (DSC) from the proposed Director which is required for the following required documents are:
- Address Proof
- Aadhaar card
- PAN card
- Email Id
- Phone Number
2. Apply for DIN: Once the Digital Signature Certificate (DSC) is made, then the next step is to apply for the Director Identification Number (DIN) for the proposed Director in SPICe Form along with the name and the address proof of the directors. The Form DIR-3 is the option which is only available for the existing companies.
3. Name Approval Application: The next step is while incorporating an OPC is to decide the name of the Company. The title of the Corporation usually comes in the form of “ABC (OPC) Private Limited.”
There are 2 choices available to get a name accepted by applying in Form SPICe 32 or by utilizing the MCA RUN Web service by offering just 1 preferred name along with the purpose of retaining that name. That being said, with effective from 23 March 2018, the Ministry has agreed to approve two proposed names and one re-submission (RSUB) thus retaining the Specific Names (RUN Service) for both the Firms.
4. Documents Required: We have to prepare the following documents which are required to be submitted in the ROC:
a. The Memorandum of Association (MoA) which is the objects to be followed by the Company or stating the business for which the company is going to be incorporated.
b. The Articles of the Association (AoA) lays down the laws on which the company will operate.
c. Since there are only 1 Director and a member, a nominee on behalf of such a person has to be appointed because in case he becomes incapacitated or dies and cannot perform his duties of the nominee will perform on behalf of the director and take his place.
d. Proof of the Registered office for the proposed Company along with the proof of ownership and a NOC from the owner.
e. Declaration and Consent of the proposed Director of Form INC -9 and DIR – 2 respectively.
f. A declaration by the professional which certifies that all the compliances have been made.
5. Filing of forms with MCA: All these documents will be attached with the SPICe Form, SPICe-MOA and SPICe-AOA along with the DSC of the Director and the professional, and It will be submitted to the MCA platform for clearance. The Pan number and the TAN were produced automatically at the period of incorporation of the firm. There is no need to file separate applications for obtaining a PAN Number and TAN.
6. Issue of the certificate of Incorporation: Upon confirmation, the Registrar of Companies (ROC) may issue a Certificate of Incorporation and then we can start our company.
As per Section 2(62) of the Company Act 2013, a company can be created with only 1 director and 1 member. It is the type of business where the standards for compliance are smaller than those of a private company.
Visit – One Person Company Registration