One Person Company Registration

1. Minimum One Directors, One Shareholder and One Nominee (directors and shareholders can be same).
2. At least 2 Unique Names required for reservation – name should not be same or similar to an already registered company, LLP or a Trademark.
3. Authorized Capital of and Paid Up capital 

Documents Verification –

Our dedicated expert will verify all the documents of Director/Shareholder and other required documents.

Name Reservation –

The proposed name is applied and obtained from the Ministry of Corporate Affairs. 2 names can be provided. In case of rejection of both names, an opportunity is provided for re-submission of the form with 2 more names. Starteasy will help you while deciding the Name of Company.

Application for Digital Signature Certificate (DSC)–

DSC will be obtained for proposed Director/Shareholder.

Drafting of MOA & AOA and Other Documents –

Documents like NOC, Consent Letter, Specimen Signature etc. will be prepared and sent to promoters for signature. Once Signed documents are received STARTEASY experts will prepare MOA, AOA and other required forms.

Filling of Forms with ROC for Incorporation –

All these forms Spice+, MOA, AOA etc. needs to file with Concerned ROC and this mentioned process finally culminates into the registration of the Company with issuance of Certificate of Incorporation. Certificate of Incorporation is conclusive evidence of Registration of Company.

1) Limited Liability –

One of the benefits of OPC is that it has more chances, has limited liability since the liability of the One Person Company is limited to the extent of the value of the share, and the individual can take more risk in business without distressing or suffering the loss of any personal assets as compared to sole proprietorship.

2) No Minimum Capital Requirement –

Companies Act, 2013 has done away with minimum capital requirements, so we can start the company even with Rs.1/- only as a capital .

3) Perpetual Succession –

A person needs to be appointed as a Nominee. On the death of the member, the nominee will run the company in the member’s place.

4) Transferability of Shares –

Shares of a company (OPC) limited by shares are transferred to nominee in case of death of shareholder and nominee become owner.

5) Easy Funding –

One Person Company can raise funds using venture capital, angel investors, financial institutions etc., OPC gives an edge to Owner with respect to availing of loans from any banks as compared to a sole proprietorship.

6) Lesser Compliances –

OPC have lesser compliances requirements than that of a Private Limited Company.

7) Tax Advantage –

The one person Companies are only taxed on their profits at reduced tax rates as compare to sole proprietorship.

Statutory Auditor Appointment – (Within 30 Days)

• • Board of Directors has to appoint Auditor within 30 days from the date of Incorporation.
  • Only Practicing Chartered Accountant can be appointed as Auditor.

Commencement of Business – ( Within 180 Days)

• • Within 180 days from the date of Incorporation, Company needs to deposits its share capital amount in the Bank Account and needs to file INC-20A with MCA.

Income Tax Filling – ( Up To 30^th Sept)

• • Every Company needs to file Income Tax Return (ITR-6) upto 30th September and Income Tax Audit will be applicable to those Companies whose Turnover is more than 1 crores.

Roc Annual Filling – ( Up To 30^th Oct)

• • Every Company needs to file Annual Return in Forms of AOC-4 and Management Related Return in Form of MGT-7 upto 30^th October.

Director KYC – ( Up To 30^th Sept)

All Directors of company have to complete their DIN KYC every year before 30^th September.

DSC (Digital Signature Certificate) –

an electronic document issued by a Certificate Authority. DSC is used for making signature on soft copies i.e. Certificates serve as proof of identity of an individual for a certain purpose.

Authorized Capital–

Authorized capital is maximum amount of share capital, that Company is authorized to Issue to the Shareholders. It can be increase at any time by shareholders approval.

Paid Up Capital –

Paid up capital is amount of money company has received from its shareholder against purchase of Company’s shares by the Shareholder. Paid up capital is always less than Authorized Capital of the Company.

MOA (Memorandum of Association)-

MOA contains the Main and Ancillary Object Clause of the Company. It is Constitution of the Company and it has to be filed with ROC (Registrar of Companies) at the time of registering the Company. It Contains 6 Clauses i.e. –

1. 1. Name Clause – What is Name of the Company
   2. Situation/Registered State Clause – Where the Registered office of the Company is Located
   3. Object Clause – What is the objects of the Company
   4. Liability Clause – It shows up the Liabilities of the members of the Company
   5. Capital Clause – Its Shows authorized capital of the Company
   6. Subscriber of the Company – It shows the names of Subscriber to the memorandum.

AOA (Article of Association)-

AOA is rules, regulations and the bye-laws for the internal management of the company, the conduct of its business. The Articles of a company have often been compared to a rule book of the company’s working that regulates the management and powers of the company and its officers.

Timeline to Register a Company-

With STARTEASY you will get Registration of your Company within 8-10 Days.

Proceeding time would vary depending upon time taken by client to submit documents and time taken by government authorities.