The concept of One Person Company registration was introduced not so long ago by the Ministry of Corporate Affairs. This business model was introduced with an objective to give a strong business model option to single entrepreneurs. Earlier for incorporating a company at minimum two members and directors are required. To give young, single and enthusiastic entrepreneurs an option to venture into the corporate world concept of One Person Company was introduced.

Procedure for One Person Company Registration in India

One Person Company Registration procedure is comprised of following simple steps:

Step 1: Apply for Digital signature

Digital Signature also termed as DSC are required for signing all kinds of online documents and forms. Thus before initiating the procedure for OPC registration, the applicant is required to apply for Digital signature. There are certain bodies authorized to issue DSC by the MCA. For DSC a signed application form is required to be submitted along with PAN, address proof, a photograph of the applicant.

Step 2: Apply for Name Reservation

Once you have received your digital signature next step to apply for Name Reservation of your proposed company. Name Reservation application is filed through Reserve Unique Name (RUN) facility available on the Ministry of Corporate Affair’s official portal www.mca.gov.in. The applicant can file the name reservation application with two proposed names and one resubmission is allowed in case the proposed names are rejected. While finalizing the name of your organization following points must be kept in mind:

1. The proposed name must not be similar to an already registered company, limited liability partnership or trademark. However, you can also apply for a similar name if the owner of such registered Company, LLP or Trademark Registration issues you No Objection Certificate for using a similar name.
2. The name must not violate the provisions of Emblems and Names (Prevention of Improper Use) Act, 1950.
3. The name must not be insulting or disrespectful to any group of people.
4. The name must end with OPC Limited.

Note: You can also apply for name reservation in SPICe form along with OPC registration application. However, it is recommended to go for name reservation before preparing the required documents for One Person Company registration.

Step 3: Prepare Incorporation Documents

Once the name is approved through RUN service it will be reserved for 20 days. The applicant is required to fill all the relevant information in SPICe Form and prepare all the necessary documents that are required to be attached with OPC registration application. Following documents are required to be prepared:

• Memorandum Of Association prepared in Form INC 34 also known as SPICe MOA
• Article Of Association prepared in Form INC 35 also known as SPICe AOA
• INC-9 signed by the shareholder and duly notarized
• DIR-2 duly signed by the Director
• NOC signed by the nominee.
• ID and Address proof of subscriber as well as the nominee
• Address proof of the registered office address
• NOC from the owner of the registered office address
• if the property is rented then a copy of the rent agreement

Step 4: File Incorporation Application

Once all the required documents are prepared an application for OPC Registration is to submit. For this E forms SPICe, SPICe AOA and SPICe MOA are uploaded on the MCA portal as linked forms and fees should be submitted. After successful submission, a Service Request number (SRN) is generated. The applicant can track the status of the OPC registration application through this SRN number.

Step 5: Grant of Registration

After thorough verification of the OPC registration application if the proper officer has any issues then the application is sent back for resubmission. For which the applicant is required to make the necessary changes and resubmit. After satisfaction, OPC registration is granted and Certificate of incorporation (COI) is issued by the authorities. The following information is conveyed after successful registration:

• Company Identification Number (CIN) for the company
• Director Identification Number (DIN) for Director
• Permanent Account Number (PAN) for company
• Tax Deduction and Collection Account Number (TAN) for company

Source url - http://swaritadviser.fikket.com/event/one-person-company-registration