A One Person Company (OPC) registration allows individuals to set up a company and enjoy its benefits, without needing a host of employees. Such a company also brings about limited liability for the individual.
In order to pursue an OPC registration in India, individuals must follow a series of steps.
Apply for a DSC
A Digital Signature Certificate is a vital document for those who want to register their company. As the main signatory authority of your company, you must submit the following documents to a Certified Authority (CA) in order to get your DSC:
- PAN Card
- Aadhar Card
- Address Proof
- Phone Number
- Email ID
Apply for a DIN
Once you have received your DSC, you must then apply for the Director Identification Number (DIN). You will need to fill out the SPICe form and supply the address proof and ID proof of the director. This form can be used for up to 3 directors. Keep in mind that the DIR3 form is only meant for companies that already exist.
Apply for name approval
After getting the DSC and DIN, you must apply for name approval. The name of your company will follow the format of [Name] (OPC) Private Limited. You can either get the name approved while filling out the SPICe form, or through the RUN web service that is available on the MCA website. You must submit one preferred name, along with a few other name options. Once you receive the approval, you can move on to the next steps.
Prepare the required documents
In order to register your company, you need the following documents to be in order:
- Memorandum of Association (MOA) – this document highlights the objectives that the company aims to follow
- Articles of Association (AOA) – this document highlights the by-laws within which the company plans to operate
- In an OPC, there is generally 1 person and 1 director, so you must appoint a nominee in case something unfortunate happens. The nominee must offer their consent in form INC-3 and submit his/her PAN and Aadhar card
- Proof of ownership, proof of registered office, and an NoC from the owner
- Consent and an affidavit of Form INC-9 and DIR-2 from the proposed Director
- A declaration that certifies that all the compliances have been made
Fill the forms on MCA
The required documents mentioned above must be attached to the SPICe Form, SPICe-MOA and SPICe-AOA on the MCA website. Once that is done, the application process will be complete. The Registrar of Companies will then verify all the documents and forms and then approve them.
These steps will help you register your company as an OPC.
Who is eligible to form an OPC?
The good news is that anyone who is an Indian citizen and has been living in the country for a minimum of 185 days can register an OPC. However, it is important to note that if you do register your company as an OPC, you cannot register it as a private company or a public limited company for at least 2 years from the date of incorporation.
Also read: How to Register a Business Online in India