What is one person company india registration?
One Person Company Registration
Basically OPC means One Person Company which is also a private limited company with 1 member. All the OPC are monitered by Companies Act, 2013. One of the biggest advantages of a One Person Company (OPC) is that there can be only one member in a OPC, while a minimum of two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP). Similar to a Company, a One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate. Appointing Nominee is mandatory incase of incorporating One person Company.
Advantages of one person company india incorporation
- It exists as separate legal entity and perpetual existence even after death of member.
- The liability of member is limited upto the extent of unpaid share capital.
- It helps to improve credibility of the business.
Documents required for one person company incorporating business
- Identity and Address proof of Director and Nominee.
- Aadhar/ Voter ID/ Driving License
- PAN card
- Latest Bank Statement.
- Proof of address for business
- Rental Agreement/ Utility Bills – if rented
- Property Tax receipt – if owned
- Incase of NRI passport to be submitted.
- Description of Objects and articles of the business.
Process of one person company incoporation
Step 1 Search for the availbility of name and reserve it through Reserve Unique Name (RUN) service in MCA portal. If the name is already registered then it wont be alloted again.
Step 2 Once name got approved then apply Digital signature and file DIR 3 form for filing DIN number.
Step 3 File SPICe form, MOA and AOA forms with required details.
Step 4 After filing SPICe form then upload it along with the prescribed form.