OPC Registration
The Companies Act, 2013 introduced the new concept of One Person Company (OPC). As the name suggests, an OPC is a company established by a single person. A single individual establishes and manages the company. An OPC has all the features of a company, such as perpetual succession, limited liability and a separate legal entity. Before the enforcement of the Companies Act, 2013, a single person could not establish a company. If an individual wanted to establish his business, he/she could opt only for a sole proprietorship as there had to be a minimum of two directors and two members to establish a company.

In a Private Company, a minimum of 2 Directors and 2 Members are required whereas in a Public Company, a minimum of 3 Directors and a minimum of 7 Members. A single person could not incorporate a Company previously.As per Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. The director and member can be the same person. It is a form of a company where the compliance requirements are lesser than that of a private company. Thus, one person company means one individual who may be a resident or NRI can incorporate his/her business that has the features of a company and the benefits of a sole proprietorship.

One Person Company (OPC) Registration Process

Step 1: Apply for DSC

The first step is to obtain the Digital Signature Certificate (DSC) of the proposed director which requires the following documents:

Address proof
Aadhaar card
PAN card
Photo
Email Id
Phone number
Step 2: Apply for DIN

Once the Digital Signature Certificate (DSC) is made, the next step is to apply for the Director Identification Number (DIN) of the proposed director in SPICe+ form along with the name and the address proof of the director. Form DIR-3 is the option only available for existing companies. It means with effect from January 2018, the applicant need not file Form DIR-3 separately. Now DIN can be applied within the SPICe+ form for up to three directors.

Step 3: Name Approval Application

The next step while incorporating an OPC is to decide on the name of the Company. The name of the Company will be in the form of “ABC (OPC) Private Limited”.The name can be approved in the Form SPICe+ application. Only one preferred name along with the significance of keeping that name can be given in the Form SPICe+ application. If the name gets rejected, another name can be submitted by applying another Form SPICe+ application.

Once the name is approved by the MCA we move on to the next step.

Step 4: Documents Required

We have to prepare the following documents which are required to be submitted to the ROC:
The Memorandum of Association (MoA) which are the objects to be followed by the Company or stating the business for which the company is going to be incorporated.
The Articles of the Association (AoA) lays down the by-laws on which the company will operate.
Since there are only 1 Director and a member, a nominee on behalf of such a person has to be appointed because in case he becomes incapacitated or dies and cannot perform his duties the nominee will perform on behalf of the director and take his place. His consent in Form INC – 3 will be taken along with his PAN card and Aadhar Card.
Proof of the Registered office of the proposed Company along with the proof of ownership and a NOC from the owner.
Declaration and Consent of the proposed Director of Form INC -9 and DIR – 2 respectively.
A declaration by the professional certifying that all compliances have been made.