OPC Company Registration: An incredibly easy method

Just like the Private Limited Company registration, One Person Company registration, too, is an incredibly easy method. The registration process completes merely within four steps.

But before we leap to the registration process, let's learn a little more about One Person Company. The topics included in this blog are as follows:

  • One Person Company meaning
  • The significance of One Person Company (OPC) Registration in India
  • Checklists for OPC registration
  • Steps to One Person Company registration

One Person Company meaning

One Person Company is a form of proprietorship firm where a single person is enough to form the company. And, obtaining one person company registration is pretty easy.

The notion of One Person Company in India came into existence through the Companies Act, 2013. It was to support entrepreneurs who on their own are capable of starting a business by allowing them to create a single person financial establishment.

The significance of One Person Company (OPC) Registration in India

Under Section 2 (62) of the Companies Act, 2013, OPC is a company which has only one person as a member.
Considering the legal nature of OPC, it's concluded that One Person Company can be registered only as a Private Limited Company (PLC). It implies that all the provisions applicable to PLC will apply to OPC as well unless otherwise expressly excluded in the act or rules made thereunder.

For one company registration in India, there is no minimum capital required, but the authorized capital should not exceed Rs. 50 lakhs at any point.

Moreover, there's a limited liability with OPC which implies that the personal asset of the Directors won't be attached to the debt of the business. Also, there's minimal compliance associated with OPC.

Apart from these, there are various other benefits that the owner of a business can avail with OPC registration.
You are just one step away from Enterslice for your OPC registration.

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Checklists for OPC registration

  • Given below you can find the list of documents required for OPC registration:
  • Identity proof of the director that could be PAN card or Aadhaar card
  • Address proof the director such as driving license, election ID card or Passport
  • Memorandum of Association (MoA) and Articles of Association (AoA)
  • An Affidavit of the subscriber and the director 
  • Proof of the registered office such as Electricity bill, Phone bill etc. 
  • If the office is on rented property, then submit a Rental Agreement along with a NOC (No-Objection Certificate) from the owner.

Steps to One Person Company registration

As we discussed above, the registration process of One Person Company is quite easy and short. Let’s see what they are:

Step1: Apply for DSC

As in Private Limited Company registration, being an applicant, you need to apply for DSC (Digital Signature Certificate). DSC is essential for filing the electronics documents at ROC (Registrar of Companies). To obtain DSC, you need to submit the following papers:

  • PAN card
  • Photo
  • Email Id
  • Phone Number
  • Address Proof
  • Aadhaar card

Step2: File for company name approval

Once you have applied for DSC, your next step should be to file a request for the company's name approval. Choose a unique name for your company that should be in the form of XYZ (OPC) Pvt. Ltd. Company.
Company's name registration can be done in two ways:

By making an application in the SPICe form, or

Using RUN (Reserving Unique Name) Form web service of MCA where you can propose two names.
Step3: File Form INC- 32 or SPICe form

Under the SPICe form, you can obtain DIN (Director Identification Number), PAN, TAN, Certificate of Incorporation (COI), etc. For the same, you have to mandatorily submit MoA and AoA.

The SPICe Form lets applicant to incorporate a company with a single application for reservation of name and allotment of all the above-described documents.

Once you have submitted the e-form, MCA’s (Ministry of Corporate Affairs) Central Processing Centre will process the application. If they find your form to be complete, then your company will be registered and you will receive CIN (Company Identification Number).

Step4: Bank account opening

The last step to company registration includes opening a bank account in the name of the company. Furthermore, after receiving the certificate of incorporation you have to simply open a current bank account as per your choice.

If you intend to start OPC, then get the OPC registration done with India’s no. 1 consultant, Enterslice.