How to Start One Person Company and Documents Required for OPC Registration
In the new Companies Act 2013, a new concept of OPC or One Person Company is introduced which says that a person can register a company on his name as a single owner or director. After that, many enthusiasts who are planning to start a company are worried about how to start one person company , Here we present the entire details and steps you have to take in order to register your OPC.There are some documents required for One Person Company, which include:
- Reservation application of name in INC-1
- Identity proof, address proof and PAN card copy of nominee and member
- Written Consent of Nominee in form INC-3
- Memorandum and Affidavit of sharer for form INC-9
- Application for Company Registration
- Registrar Office Address in Form INC-22
- Registered office's address proof
Five Simple Steps of Registering One Person CompanyAny person can apply for One Person Company procedure with submitting these documents and appointing a nominee who becomes the responsible person from the company in case of death or incapacity of registered director. Following steps are to be taken in order to register for One Person Company:
- First, the proposed director, or the person willing to register the company on his/her name submits his Digital Signature Certificate to the registrar office. Following this, he/she is provided with a Director Identification Number (DIN) mentioning his rights in the company.
- Next step is selecting the suitable name for the company. A person can select any name which he/she wants, as long as the name is available. After submitting the desired name, the Ministry of Corporate Office checks the availability of the proposed name. If the name is not available, they suggest an alternative name for the company.
- The proposed director needs to prepare the Memorandum of Association and Article of Association together with other documents.
- There is a minimal fee and stamp duty which the director has to pay. After that, the Registrar of Companies verifies the documents.
- If everything goes fine, the director receives the registration certificate which ensures that the one person company is registered on his name.
Posted by Anita Aswal - 5th May 15