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One Person Company Registration

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1) Generation of Digital Signature Certificate
2) Application Filing for Director Identification Number (DIN)
3) Application filing for Name Approval
4) Drafting of MOA / AOA
5) Application Filing for Company Incorporation
6) Application for PAN & TAN of Company

DIGITAL SIGNATURE CERTIFICATE FOR 1 DIRECTOR / OWNER

DIRECTOR IDENTIFICATION NUMBER FOR 1 DIRECTOR/ OWNER

NAME APPROVAL CERTIFICATE

MOA / AOA

COMPANY REGISTRATION CERTIFICATE

COMPANY PAN & TAN

One person company is a concept introduced in India by the Companies Act, 2013. The concept opens up new vistas of business opportunities and particularly spectacular possibilities for sole proprietorships and entrepreneurs who can enjoy the advantages of limited liability and the benefit of separate legal entity as well. The introduction of OPC in the legal system is a move that would.

Encourage corporation of micro businesses and entrepreneurship with a simpler legal regime so that the small entrepreneur is not compelled to devote considerable time, energy and resources on complex legal compliance. This will not only enable individual capabilities to contribute economic growth, but also generate employment opportunity. One Person Company of sole-proprietor and company form of business has been provided with concessional /relaxed requirements under the Companies Act, 2013. With the implementation of the Companies Act, 2013, a single national Person can constitute a Company, under the One Person Company (OPC) concept.

Some of the privileges and benefits identified with OPCs are:

  • OPCs would provide the start-up entrepreneurs with new business idea. 
  • OPC provides an outlet for the entrepreneurial impulses among the professionals.
  • The advantages of limited liability. The most significant reason for shareholders to incorporate the ‘single-person company’ is certainly the desire for the limited liability.
  • OPCs are not proprietorship concerns; hence, they give a dual entity to the company as well as the individual, guarding the individual against any pitfalls of liabilities. This is the fundamental difference between OPC and sole proprietorship.
  • Unlike a private limited or public limited company (listed or unlisted), OPCs need not bother too much about compliances.
  • Businesses currently run under the proprietorship model could get converted into OPCs without any difficulty.
  • OPCs require minimal capital to begin with. Being a recognized corporate, could well raise capital from others like venture capital financial institutions etc., thus graduating to a private limited company.
  • Mandatory rotation of auditor after expiry of maximum term is not applicable.
  • The annual return of a One Person Company shall be signed by the company secretary, or where there is no company secretary, by the director of the company.
  • The provisions of Section 98 and Sections 100 to 111 (both inclusive), relating to holding of general meetings, shall not apply to a One Person Company.
  • A One Person Company needs to have minimum of one director. It can have directors up to a maximum of 15 which can also be increased by passing a special resolution as in case of any other company.
  • For the purposes of holding Board Meetings, in case of a one person Company which has only one director, it shall be sufficient compliance if all resolutions required to be passed by such a Company at a Board meeting, are entered in the minutes-book, signed and dated by the member and such date shall be deemed to be the date of the Board Meeting for all the purposes under this Act. For other One Person Companies, at least one Board Meeting must be held in each half of the calendar year and the gap between the two meetings should not be less than 90 days.
  • The financial statements of a one person company can be signed by one director alone. Cash Flow Statement is not a mandatory part of financial statements for a One Person Company. Financial statements of a one person company need to be filed with the Registrar, after they are duly adopted by the member, within 180 days of closure of financial year along with all necessary documents.
  • Board’s report to be annexed to financial statements may only contain explanations or comments by the Board on every qualification, reservation or adverse remark or disclaimer made by the auditor in his report.



OBTAIN DSC & DIN

DSC: Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. Examples of physical certificates are drivers' licenses, passports or membership cards. Certificates serve as proof of identity of an individual for a certain purpose; for example, a driver's license identifies someone who can legally drive in a particular country. Likewise, a digital certificate can be presented electronically to prove your identity, to access information or services on the Internet or to sign certain documents digitally. Like physical documents are signed manually, electronic documents, for example e-forms are required to be signed digitally using a Digital Signature Certificate.




DIN: It is an unique Identification Number allotted to an individual who is an existing director of a company or intends to be appointed as director of a company.

Before filing the actual Incorporation documents with the ROC, we need to be sured about the name of the Proposed Company, whether the applicant will be able to get the name or not.

So, we need to Reserve our Proposed Company name with the ROC, Which we do with filing of the form INC-1.That Reserved name of the company is valid for 60 days from the day you get its registered.


MOA (Memorandum of Association ): MOA is the document that reveals the name, registered office address, aims and objectives of the company, clause about its limited liability, share capital, minimum paid up capital etc. MOA also gives information about its first shareholders including the number of shares subscribed by them. MOA is one document that tells people all about the company and its relationship with the outside world. Though it is essential to submit MOA with the registrar when a company is being formed, it does not find mention in the constitution of the company. Subsequent to an amendment added in 2006 Companies Act, it is no longer mandatory to include the details about name, address, objectives and first shareholders names. Hence there is no restriction upon a company to engage in a particular business.

AOA (Articles of Association) : Articles of Association, also simply referred to as Articles, are necessary to be submitted during incorporation of a company with the registrar of companies. When Articles are taken in conjunction with MOA, they form what is called as the constitution of the company. Articles are also called the internal Constitution of the company.



After Name Approval & Drafting of MOA & AOA, now we needs to file INC-2 (Form for incorporation of the One Person Company) which includes all the declarations, Affidavits, etc from Director and Subscriber as well and form INC-3 as the Consent of Nominee.



After 3-4 days of filing the Incorporation form with the ROC, ROC gives its remark over the Incorporation. If ROC founds that all things are in order and as per the standard, then ROC issues Certificate of Incorporation.

On the other hand if ROC found something missing, then they send the form for Re-submission, and after completing of Re-submission of the form, ROC provides Certificate of Incorporation. But, once the form goes in Re-submission, it takes 3-4 days extra.

Normally, it takes 5-6 days for name Approval and 5-6 days for Incorporation approval after name approval, if ROC founds everything is in order, otherwise 5-6 days will more be considered. Totally, it takes 15-20 working days of Incorporation of the company.


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