An individual Indian citizen can incorporate a one person company (OPC) to enjoy the benefits of limited liability. To incorporate an OPC, the individual must have a minimum capital of Rs. 1 lakh and appoint a nominee. The incorporation process involves applying for director identification numbers, a digital signature certificate, name availability, and filing memorandum of association, articles of association, and other documents with the registrar of companies. After receiving a certificate of incorporation, the OPC must file forms regarding its registered office location and commencement of business within 30 and 180 days respectively.
2. WHAT IS ONE PERSON COMPANY
(OPC)
• Even one man show can incorporate a Company and enjoy the benefits of
limited liability and separate legal entity of a Company.
• No need to have co-founder to start your business
3. BASIC POINTS ON ONE PERSON
COMPANY (OPC)
• Only a natural person who is Indian Citizen and resident in India can
incorporate OPC.
• Resident in India means a person who had stayed in India for a period not
less than 182 days in the preceding calendar year.
• Minimum capital is Rupees One Lac.
• Subscriber of MOA of OPC need to appoint a nominee.
• OPC can’t do financial activities.
• OPC can’t convert itself into any other form of Company voluntary, within 2
years of incorporation except when its Paid up share capital exceeds 50 lacs
and turnover exceeds 2 crores.
4. INCORPORATION OF ONE PERSON
COMPANY (OPC)
• Incorporation is divided into following steps:-
• Pre Incorporation Step
• Name availability Step
• Incorporation Step
• Post Incorporation Step
5. PRE- INCORPORATION STEP
• Apply DIN (Directors Identification Number)
• Documents required are
• Identity Proof
• Address Proof
• Passport Size Photograph
• Verification in DIR 4
• Apply DSC (Digital Signature Certificate)
• Documents required are
• Identity Proof
• Address Proof
6. NAME AVAILABILITY STEP
• Name is applied in Form INC-1 along with requisite fees.
• Name of OPC is written as
• “XYZ Services Pvt Ltd (OPC/ One Person Company)”
7. INCORPORATION STEP
• Incorporation to be filed in Form INC-2
• Documents to be attached are
• MOA
• AOA
• Identity proof, Residential Proof and PAN Card of members and nominees
• Consent of Nominee in Form INC-3
• Affidavit in Form INC-9 of subscriber to MOA and first director.
• List of all companies (specifying their CIN) having the same registered office, if any.
• Specimen Signature in Form INC-10
• Appointment of Directors in Form DIR-12
• Documents to be attached are
• Declaration by the first director
• Interest in other entities
8. FINAL CERTIFICATE OF
INCORPORATION
• After approval of Incorporation documents by concerned Registrar of
Companies (ROC), Certificate of Incorporation is issued by concerned ROC
in Form No INC -11.
9. POST INCORPORATION STEP
• Notice of situation of registered office to be filed in Form INC-22
• Documents to be attached are
• Lease deed/ Rent agreement along with rent receipts.
• Copies of utility bills as mentioned above (not older than 2 months)
• A proof that the Company is permitted to use the address as the registered office of the
Company if the same is owned by any other entity/ Person (not taken on lease by
company)
• Form INC-22 needs to be filed within 30 days from incorporation.
• Commencement of Business in Form INC-21
• Documents to be attached are
• Specimen signature in Form INC-10
• Form INC-21 needs to be filed within 180 days from incorporation.
• In this form a declaration is given that Form INC-22 is filed and subscribers had paid
their subscription amount.
10. MAK WORLDWIDE BIZ ADVISORS PRIVATE LIMITED
CORPORATE LAW ADVISORS
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www.makbizadvisors.com
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