One Person Company Registration

A One Person Company (OPC) is a type of business entity that allows a single individual to operate a corporate entity with limited liability. It was introduced in India to support and encourage solo entrepreneurs by providing them with a formal business structure that combines the benefits of a sole proprietorship and a company. It provides a blend of benefits that were previously available only to larger companies. Let's get deeper into the aspects of One Person Company registration services by CompanyInk.

Who is eligible for OPC?

To qualify for OPC registration, the applicant must meet certain eligibility criteria. Below are the key requirements.

OPC registration, also known as Single Person Company Registration is exclusively available to individuals who wish to operate a company as the sole owner. This means that only one person can hold all the shares and exercise control over the company's affairs.
The individual seeking OPC company registration must be a resident of India. Non-residents are not eligible to register an OPC.
While an OPC can have only one shareholder, it is mandatory to have at least one director. The sole shareholder can also act as the director of the company.
The individual applying for OPC registration cannot be a shareholder or director in any other One Person Company. This condition ensures that the concept of OPC remains true to its essence of single ownership.
The applicant must understand and acknowledge the concept of limited liability protection offered by OPC. This means that the liability of the owner is limited to the amount invested in the company, thereby safeguarding personal assets from business debts and obligations.

Documents Required for OPC Registration and Incorporation:

Identity Proof: Aadhar Card, Passport, Voter ID card, Driving License.
Address Proof: Recent Utility Bill (Electricity, Water, or Gas) Bank Statement or Passbook, Aadhar Card with Address
Recent Passport-sized Photographs of the owner
Signature of the owner, duly attested.
Memorandum of Association (MOA): A document defining the company's objectives, rules, and regulations
Articles of Association (AOA): A document outlining the internal rules, procedures, and operations of the company
Proof of Registered Office: Rental Agreement or Sale Deed, NOC (No Objection Certificate) from the property owner, Utility Bill (Electricity, Water, or Gas) in the name of the property owner.
Digital Signature Certificate (DSC): Digital signature of the owner, obtained from authorized agencies
Director Identification Number (DIN): DIN allotted to the owner, if available.

CompanyInk play a crucial role to complete all the documentation required in the OPC registration process and are submitted to the Registrar of Companies (ROC) as part of the incorporation procedure. It's essential to ensure that all documents are accurate, up-to-date, and comply with the regulatory requirements to facilitate smooth registration and incorporation of the OPC.

The Registrar will authorise OPC registration following the ROC's successful submission and verification of the necessary paperwork. A Certificate of OPC Company Incorporation, attesting to the formal One Person Company's registration, will thereafter be issued by the ROC. Crucially, the Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) are generated automatically throughout the incorporation process. With this simplified process, there is no need for separate applications for these important tax identities.

Conclusion:

If you're looking to establish a One Person Company Registration in India, whether you are a budding entrepreneur or an established business. CompanyInk is here to assist you every step of the way and our services ensure a smooth and efficient registration process, setting the stage for your business success.