The major intent was to support businesspersons capable of starting a venture, by them. This is also done by means of allowing them to create a single person economic entity. One of the major advantages of a One Person Company (OPC) is that there only one member is allowed in OPC. On the other hand, a minimum of two members is needed for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership.
One person company registration
The process of One person company registration includes;1. Apply for DSC : The primary step is to obtain the Digital Signature Certificate (DSC) of the proposed Director which needed the following documents:
• Address Proof
• Aadhaar card
• PAN card
• Photo
• Email Id
• Phone Number
2. Apply for DIN : When the Digital Signature Certificate (DSC) is made; the following step is to apply for the Director Identification Number (DIN) of the proposed Director in SPICe Form with the name and the address proof of the director.
3. Name Approval Application : While incorporating an One person company in India, it is to decide on the name of the Company. The name would be approved by the MCA.
4. Documents Required : One must prepare the following documents which are needed to be submitted to the ROC:
o The Memorandum of Association (MoA)
o The Articles of the Association (AoA)
o As there is only 1 Director and a member, a nominee for such an individual has to be appointed because in case he becomes incapacitated or expires and cannot implement his responsibilities the nominee would perform for the director and take his place. His consent in Form INC – 3 shall be taken along with his PAN card and Aadhar Card.
o Proof of the registered office of the proposed Corporation along with the proof of ownership as well as a NOC from the owner.
o Affidavit and Consent of the proposed Director of Form INC -9 and DIR – 2.
o A declaration through the professional certifying that every compliances have been made.
5. Filing of forms with MCA : All these documents shall be attached to SPICe Form, SPICe-MOA and SPICe-AOA with the DSC of the Director and the professional, and shall be uploaded to the MCA site for approval.After uploading, Form 49A and 49B would be generated for the PAN and TAN generation of the Corporation which have to be uploaded to MCA after affixing the DSC of the proposed Director.
6. Issuing of the certificate of Incorporation : On verification, the Registrar of Companies would issue a Certificate of Incorporation and the individual could commence the business.
