Incorporation of One Person Company under Companies Act 2013
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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.
Incorporation of One Person Company under Companies Act 2013
- 1. INCORPORATION OF ONE PERSON COMPANY (OPC)
- 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 cant do financial activities. OPC cant 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 268, Business India Complex, Uday Park, Delhi-110049 www.makbizadvisors.com Info@makbizadvisors.com +91-9555250231,9718483209, 011-41407878