An online OPC registration in India stands for “One Person Company Registration in India”, in India OPC is mentioned under the Companies Act, 2013 under section 2(62). As it can be seen it is a fairly recent concept introduced in India. It was set up to help that segment of the population who are capable of starting a business enterprise on their own allowing them to create single person economic entity. Before the introduction of this concept a single person could not incorporate a company, a Private Company required a minimum of two directors and members whereas a Public Company would require a minimum of three directors and seven members.
Section 2(62) of the Company’s Act 2013: a company can be formed with just 1 Director and 1 member. It is a form of a company where the compliance requirements are lesser than that of a private company. A One Person Company is incorporated as a private limited company. The words “One Person Company” must be mentioned in brackets below the name of the company.
If the OPC or any officer of the OPC contravenes the provisions mentioned in the act, the company or any officer shall 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.
One Person Company (OPC): Process of Registration
Step 1: Apply for DSC
The foremost thing is to apply for “Digital Signature Certificate” of the proposed Director. To obtain the signature the following documents are required:
- Address Proof
- Aadhaar card
- PAN card
- Email Id
- Phone Number
Step 2: Apply for DIN
After obtaining the “Digital Signature Certificate” the person has to apply for “Digital Identification Number” of the proposed director in SPICe Form. For verification proof, the name and address of the director are required. From January 2018, the applicant need not file Form DIR-3 separately. Now DIN can be applied within SPICe form for up to three directors. Form DIR-3 was the only option available for existing companies.
Step 3: Name Approval Application
The next thing a person needs to do is to come up with the name of the Company. This has to be in the said manner “ABC (OPC) Private Limited”. The concerned person can either make an application in Form SPICe 32 or use RUN Web of MCA to get the name approved.
Step 4: Documents Required
The next step is to submit the following documents to the ROC “Registrar of Companies”:
- The Memorandum of Association (MOA) which are the objects to be followed by the Company or stating the business for which the company is going to be incorporated.
- The Articles of the Association (AOA) which lays down the by-laws on which the company will operate.
- There are only 1 Director and a member, because of that a nominee on behalf of such person has to be appointed in case he becomes incapacitated or dies and cannot perform his duties the nominee will perform on behalf of the director. His consent in Form INC – 3 will be taken along with his PAN card and Aadhar Card.
- Proof of the Registered office of the proposed Company along with the proof of ownership and a NOC from the owner.
- Affidavit and Consent of the proposed Director of Form INC -9 and DIR – 2 resp.
- Declaration by the professional certifying that all compliances have been made.
Step 5: Filing Forms with MCA
All the documents will be attached to the SPICe Form, SPICe-MOA and SPICe-AOA along with the DSC of the Director and the professional and will be uploaded to the MCA site for approval.
After completing all the above steps Form 49A and 49B will be generated for the PAN and TAN generation of the Company which has to be uploaded to MCA after affixing the DSC of the proposed Director.
Step 6: Issue of certificate of Incorporation
The Registrar of Companies (ROC) will issue a Certificate of Incorporation after completing the verification.
This new concept requires the help of professionals that can make the whole process super easy and Company Vakil offers that. The team at Company Vakil is not only trained in OPC registration in India but will help to resolve issues related to it as well.