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One Person Company (OPC)
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In India, a One Person Company (OPC) is a company that allows a single entrepreneur to own and manage the business with the benefits of limited liability. OPC is governed by the Companies Act, 2013. Here’s a step-by-step guide to registering an OPC in India:
Eligibility for OPC Registration
- Single Shareholder: Only one individual can be the shareholder.
- Nominee: A nominee must be appointed, who will take over in case of the shareholder’s demise or incapacity.
- Residential Status: The sole shareholder and nominee must be Indian residents (residing in India for at least 182 days in the preceding financial year).
- Business Purpose: Certain activities like non-banking financial investment activities are restricted.
Steps to Register an OPC
Step 1: Obtain Digital Signature Certificate (DSC)
- The director and shareholder need a DSC for filing the incorporation application online.
- You can apply for a DSC through certifying agencies like eMudhra or Sify.
Step 2: Apply for Director Identification Number (DIN)
- Apply for DIN through Form DIR-3 if not already available.
- If you are applying for OPC registration through SPICe+ (Step 4), DIN can be applied directly as part of the incorporation process.
Step 3: Name Reservation
- Choose a unique name for your OPC.
- File RUN (Reserve Unique Name) or use the SPICe+ form for name approval.
- Ensure the name complies with the Company Name Rules and includes the suffix “(OPC) Private Limited.”
Step 4: Prepare and File SPICe+ Form
- Use the SPICe+ (Simplified Proforma for Incorporating Company Electronically) form available on the MCA (Ministry of Corporate Affairs) website.
- Upload the following documents:
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Proof of the registered office address (e.g., utility bill, rental agreement)
- ID and address proof of shareholder and nominee (e.g., Aadhaar, PAN, passport, voter ID)
- Consent of nominee in Form INC-3
- Declaration by the sole shareholder and director in Form INC-9
- Specimen signature in Form INC-10 (if applicable)
Step 5: Pay Fees and Stamp Duty
- Pay the prescribed government fees and stamp duty online.
Step 6: Issue of Incorporation Certificate
- Upon approval, the Registrar of Companies (ROC) will issue a Certificate of Incorporationwith the company’s Corporate Identity Number (CIN).
Step 7: PAN and TAN
- PAN and TAN (Tax Deduction and Collection Account Number) are generated automatically during incorporation.
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Post-Incorporation Compliance
- Open a Bank Account: Open a bank account in the company’s name.
- GST Registration: If applicable, register for GST.
- Maintain Records: Keep proper books of accounts and file annual returns.
- Annual Compliance: File Form AOC-4 (financial statements) and Form MGT-7A (annual return) with the ROC.
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