Even One Person can start a company now – a new concept ‘One Person Company’

With the introduction of The Companies Act, 2013 only one person can start a company and such companies are known as ‘One Person Company’ (OPC). Basically it is giving legal corporate status of Proprietorship form of doing business.

In order to make the company as a going concern, the Act made it compulsory to appoint another person as nominee who shall in the event of the subscriber’s death become the member of the company.

Procedure for registering One Person Company:

•  Obtain Director Identification Number for both Nominee and Promoter.
• Obtain Digital Signature for both Nominee and Promoter.
• Select suitable Company Name, and make an application to the Ministry of Corporate Affairs for availability of name. (Form INC 1)
• Obtain written consent from Nominee in Form INC 3 and the same shall be filed with registrar along with memorandum and articles of association in Form INC 2.
• Form INC 2 deals with incorporating One Person Company. ThiseForm will have toaccompany following supporting documents
  • Written Consent received from nominee in Form INC 3
  • Duly notarised Affidavit from promoter
  • Duly notarised Affidavit received from each of the first director mentioned in the articles of association
  • Memorandum of Association
  • Articles of Association
  • Proof  of  identity  of  the  member
  • Proof  of  identity  of  the nominee
  • Residential addressproof  of  the  member
  • Residential address proof  of  the  nominee
  • Proof of registered office address and copies of the utility bills not older than two months are required to be attached in case of address of correspondence is the address of registered office of the company
  • Declaration from director or other entity that the company is permitted to use the address of the registered office of the company if the same is owned by director/any other entity/ Person (not taken on lease by company).
  • Consent letter to act as a director in case subscriber and director are the same persons
•  Form DIR-12 shall be filed along with (linked) form INC-2 except when promoter is the sole director of the OPC.
• Once the documents are in order the ROC will issue the Certificate of Registration.
• The company shall file form INC-22 within 30 days, once form INC-2 is registered in case the address of correspondence and registered office address are not same.

 Documents Required for OPC registration:

•  Latest passport size photograph in JPEG format of both Promoter and Nominee
• Self-attestedcopy of PAN Card of Promoter
• Self-attested copy of PAN Card of Nominee.
• Self-attested Copy of Address proof of Promoter.  Address proof can be DL/Passport/ Voter ID/ Aadhar Card with recent transactions.
• Self -attested copy of Bank statement/Mobile Bill/Telephone bill not older than 2 months of Promoter.
• Self-attested Copy of Address proof of Nominee. Address proof can be DL/Passport/Voter ID/ Bank statement with recent transactions.
• Self -attested copy of Bank statement/Mobile Bill/Telephone bill not older than 2 months of Nominee.

Information required for OPC registration:

•  Proposed Object of the OPC.
• Authorized Capital Company.
• Proposed company names, at least 6 names.

Signature required on following documents:

• Consent letter from nominee in Form INC -3
• Duly Signed DSC application form of promoter
• Duly Signed DSC application form of nominee
• Affidavit from Promoter
• Affidavit from first Director
• Subscriber sheet of a Memorandum of Association
• Subscriber sheet of a Articles of Association
• Consent letter to act as a director
• Declaration from director or other entity to use the address of the registered office of the company.

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