One Person Company Registration

One Person Company can be formed the company act 2013. It is the most modern form of business in India. The concept of one Person Company in India was started by Dr. Jammu- jamaye Irani in his report on company law dated as on 31 may 2005. He suggested that such a unit should be provided with a simple system through exemption so that an entrepreneur can get the procedural regarding matters that do not force to decrease the time, energy and resources. It became the companies ACT 2013 after obtaining the permission of the president of the INDIA. The concept of One Person company was introduces to support entrepreneurs so that a person’s economic unit is improved and he is able to start own business. Only one member can be in the OPC. Whereas a one person company like a private limited company is a separate legal entity from its promoter. Promoters have no impact on the company and the business continues for a long time. OPC is taking advantage in a big way with developing India’s overall economy. The company can also benefit in baking sector by incorporating OPC. It is also eligible for banking loans and credit. If you want to start your own business, you don’t have to worry about networks and slow processes. One person company is more suitable for small businessmen who have less capital to build a company. You can prepare its outline under the companies ACT2013 and register it legally under this ACT. It encourages to more people to start a business. A One Person Company can be converted into private limited company when paid-up share capital exceeds Rs. 50 lakh or turn over crossed Rs. 2 corers. At Dial on financial provide you the facility of hassle-free One Person Company registration. Registration of One Person Company by our team is done legally by online process with utmost care.

Documents Required For One Person Registration      

  • Passport size photograph
  • Copy of PAN card
  • Copy of Aadhar card
  • Sale deed(if owned)
  • Address proof (Bank statement /mobile ,telephone bill)
  • Copy of rent agreement (if rented)
  • Copy of property papers(if  owned)

Minimum Requirements for One Person Company Registration

  • One shareholder
  • One director
  • One nominee
  • A Director needs to be a resident of India he/ she will consider as the resident of India only, if they have stayed at least 182 days in the previous financial years despite having citizenship.
  • The minimum authorized capital is Rs.1, 00,000.
  • The nominee must be appointed by the promoter during incorporation.
  • Director identification No. for all directors & certificate for promoter and witness.

Process of registration for One Person Company

Apply for DSC

The first step is to obtain the digital signature certificate (DSC) of the proposed director which required the following documents

  • Address proof
  • Aadhar card
  • PAN card
  • Photo
  • Email ID
  • Phone no.

Apply for DIN

 To apply for the director identification no. (DIN) OF the proposed director in SPICE from   with the name and the address proof of the director.

Name Approval Application

 An application for the reservation of a suitable name must be made in form no. INC-1

Application for Incorporation of OPC

An application must be filed with the registrar of company (ROC) within whose jurisdiction the registered office of the company is proposed to be situated in form no. INC-2.

Signing of Memorandum & Articles of Association

The MOA & AOA of the company must be signed by the sole member who also the subscriber to the memorandum, who must give details of his name, address, description and occupation in the presence of at least one witness who must also attest the signature and must also sign and give his details.

Affidavit of Subscriber & the Director

The affidavit must be submitted by sole member who has subscribed to the memorandum and named in the articles in form No.INC9

Particular of Subscriber

The sole member must file the particulars of subscription with the register at the time of incorporation.

Nomination by the Sole Member

The subscriber to the memorandum of a one person after obtaining prior written consent of such person, who shall in the event of the subscriber’s death or his incapacity to contact, become the member of that one person company.

Online filling of OPC

 The ministry of corporation affairs (MCA) has issued an integrating incorporation from INC-32. SO now an OPC can be incorporated online by filling the simplified Performa for incorporating company electronically form in form INC-32 along with (e MOA)   in form INC-33 and (e AOA) in form INC-34.

Exemption for an OPC

  • Sign an annual returns.
  • Hold annual general meetings & board meeting.
  • Sign a financial statement.
  •  Power of tribunal to call meetings of members.
  • Calling of extraordinary general meeting
  • Quorum for meeting.
  • Restriction on voting rights.
  • Demand for poll.
  • Postal Ballot.
  •  Circulation of member’s resolution.

Advantages of Choosing OPC

  1. No Distribution of Profit: In One Person Company theprofit remains with only one person and does not have to share with anyone else, which increases his capital.
  2. Limited Liability: –The personal property of investors in one Person Company is always safe. In this, the liability is limited to the work done by its members.
  3. Continuous Existence: If the owner of the company dies, goes mad, or under any other circumstances the company will not be affected.Because the government body considers it a separate entity by law.
  4. Fundraising: One person company can raise funds from Angel Investor and Venture Capital Firm to increase its capital.
  5. Greater Credibility: One Person Company is more reliable than a private limited company as it is operated by only one person.One Person Company do audited its books annually so that trust between sellers and lending institutions is maintained.

We are here to help you for registering OPC

Dial on financial services provides you with the best company registration. We helps in preparing all the documents of company registrations and in the company formation. We provide all the facilities from company registration to company management. We will register your company with the company process and the new company building process.

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