One Person Company

One Person Company (OPC) is a unique type of company structure introduced in India to encourage solo entrepreneurs to operate a corporate entity with limited liability. Here’s a summary of the process for OPC registration:

1. Eligibility Criteria:

• Only a natural person who is an Indian citizen and resident can form an OPC.
• One person can incorporate only one OPC and cannot be a nominee in another OPC.
• Certain individuals, like minors and persons of unsound mind, are not eligible to become a member or nominee.

2.Digital Signature Certificate (DSC) and Director Identification Number (DIN):

• The sole member needs to obtain a Digital Signature Certificate (DSC) and a Director Identification Number (DIN).

3. Name Reservation:

• Choose a unique name for the OPC. The name must end with “Private Limited” for private companies and “Private Limited OPC” for OPCs.
• Check the name’s availability on the Ministry of Corporate Affairs (MCA) website.

4. Drafting of Memorandum and Articles of Association (MOA and AOA):

Draft the MOA and AOA outlining the OPC’s objectives, rules, and regulations.

5. Filing Forms with MCA:

Submit the necessary forms, along with the MOA, AOA, and other required documents, through the MCA’s online portal.

6. Nominee Appointment:

Appoint a nominee who will take over the OPC’s management in case the sole member becomes incapacitated or passes away.

7. Declaration and Consent:

The sole member and the nominee need to provide their declarations and consent to become part of the OPC.

8. Pay Registration Fees:

Pay the applicable registration fees based on the authorized capital of the OPC.

9. Certificate of Incorporation:

Once the documents are verified and approved, you’ll receive the Certificate of Incorporation (COI) for your OPC.

10. PAN and TAN Application:

Apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the OPC.

11. Bank Account Opening:

Open a bank account in the name of the OPC using the COI and other relevant documents.

12. Compliance Requirements:

After registration, ensure compliance with statutory requirements, such as maintaining proper books of accounts, filing annual returns, and adhering to other regulatory obligations.