Quick Peep Into LLP
Business

STEPS TO REGISTER A ONE PERSON COMPANY

4 Views

In order to give businesses the advantages of a private limited company structure while yet enabling them to function as a single-member firm, setting up a One Person Company (OPC) is a simplified procedure. We will guide you through the process to   register a one person company in India with this extensive guide.

Step 1:Understanding One Person Company (OPC) is the first step.

It is essential to comprehend what a One Person Company is before beginning the registration process. One shareholder and one director are all that are needed to establish an OPC, a sort of private corporation, in India. The primary benefit is that personal assets are safeguarded due to the individual’s restricted liability.

Step 2: Select a Fitting Name

A crucial first step is choosing a suitable name.throughout the registration procedure. The chosen name must to be distinct from any already-existing corporate names. Visit the Ministry of Corporate Affairs (MCA) website to verify if the chosen name is available.

Step 3: Obtain the Certificate of Digital Signature (DSC).

A Digital Signature Certificate (DSC) is required in order to submit the required paperwork online. Acquire a DSC for the subscriber of the firm and the intended director. By doing this step, the documents filed online are guaranteed to be authentic.

Step 4: The DIN, or Director Identification Number

A distinct Director Identification Number (DIN) is required for each OPC director. A DIN that the director now possesses may be utilised for the OPC. If not, use the MCA website to apply for a DIN.

Step 5: Gather the paperwork

Collect the necessary paperwork, such as:

Evidence of address for the registered office

Evidence of the director’s identity

The director’s passport-sized photo

The AOA, or articles of association, and the MOA, or memorandum of association

Step6: Submit an Incorporation Request

After all paperwork has been completed, submit the OPC registration application to the MCA. The application contains the firm name, registered office information, director details, and other pertinent data.

Step 7: Entire Registration Fee Payment

As per the specified schedule, pay the required registration costs. The charge schedule may change depending on the company’s authorised capital.

Step 8 :Certificate of Incorporation

The Registrar of Companies (RoC) shall issue the Certificate of Incorporation following the documents’ satisfactory verification and approval. This official document creates the One Person Company.

Step 9: Application of PAN and TAN 

Upon obtaining the Certificate of Incorporation, submit an application for your OPC’s Tax Deduction and Collection Account Number (TAN) and Permanent Account Number (PAN).

Step10: Needs for Compliance

Make sure that all continuing regulatory obligations—like submitting yearly reports and keeping accurate financial records—are met. Penalties and legal repercussions may follow noncompliance.

 A number of procedures must be followed in order to opc company registration in india, and the Ministry of Corporate Affairs’ (MCA) rules must be followed.

Step 1: Determine Eligibility and Comprehend Needs

Ascertaining eligibility is essential before starting the registration process. An OPC can only be formed by a natural person who is a resident and citizen of India. A seamless registration process depends on your understanding of the prerequisites and constraints.

Digi Signature Certificate (DSC) is the second step.

Acquire a Digital Signature Certificate (DSC) for the director of choice. In order to digitally sign the electronic papers throughout the registration procedure and guarantee their legitimacy, this certificate is necessary.

The Director Identification Number (DIN) is the third step.

A distinct Director Identification Number (DIN) is required for each OPC director. Apply for a DIN via the Ministry of Corporate Affairs (MCA) website if the director isn’t already in possession of one. Being a director requires having this own identity.

Step Four: Reservation Name Select a distinctive and significant moniker for your OPC. Use the MCA website to verify if the selected name is available, then fill out the Name Reservation Form (INC-1) to reserve it.

Step 5: Getting Documents Ready

Obtain the required paperwork, such as the Memorandum of Association (MOA) and Articles of Association (AOA), as well as proof of address for the registered office and the director’s identity. The cornerstone of your company’s operations and structure is laid forth in these documents.

Step 6: Filing for OPC Registration

Send the necessary forms to the MCA along with the incorporation documents, such as the AOA and MOA. This process is made easy and fast by the MCA portal’s online filing mechanism.

Step 7: Registration Fee Payment

Pay the registration fees as specified, taking into account the company’s authorised capital. The MCA website has the cost schedule, and there are several ways to make payments online.

Step 8: The Incorporation Certificate

The Certificate of Incorporation will be issued by the Registrar of Companies (RoC) following the satisfactory verification and approval of the documents. Your OPC has been formally established as of this paper.

Step 9: Application for PAN and TAN

Apply to the appropriate authorities for the company’s Tax Deduction and Collection Account Number (TAN) and Permanent Account Number (PAN) after obtaining the Certificate of Incorporation. These are necessary for financial transactions and taxation.

Step 10: Requirements for Compliance

Assure continued adherence to legal and regulatory obligations. This include keeping track of finances, filing yearly returns, and fulfilling other legal requirements. It’s essential to keep up with any changes to regulations.

evade fines and legal repercussions.

To sum up, the process of forming a One Person Company in India entails rigorous deliberation, exacting documentation, and compliance with regulatory procedures. The advantages of corporate identification, restricted liability, and simplicity of use make OPC a desirable choice for lone proprietors, even though the procedures could seem complicated. Aspiring entrepreneurs can successfully manage the hurdles of OPC registration by following this thorough guide, opening the door to a profitable and legally sound company enterprise. The process of registering a One Person Company consists of a set of clearly defined processes, ranging from comprehending the idea to acquiring the required licences and authorizations. You can successfully construct and run your OPC if you carefully follow these instructions.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *