One Person Company (OPC) Registration in Bangalore

One Person Company (OPC) Registration in Bangalore

A new concept has been introduced in the Company’s Act 2013, about the One Person Company (OPC). 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.

One Person Company (OPC) is a company incorporated by a single person. 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.

As per Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. It is a form of a company where the compliance requirements are lesser than that of a private company.

The Companies Act, 2013 provides that an individual can form a company with one single member and one director. The director and member can be the same person. 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 in Bangalore

 

Step 1: Apply for DSC

The first step is to obtain the Digital Signature Certificate (DSC) of the proposed Director which required 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+ 32 application. Only one preferred name along with the significance of keeping that name can be given in the Form SPICe+ 32 application. If the name gets rejected, another name can be submitted by applying another Form SPICe+ 32 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 Bangalore:

  • 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.

 

Step 5: Filing of Forms With MCA

All these documents will be attached to the SPICe Form, SPICe-MOA and SPICe-AOA along with the DSC of the Director and the professional, and will be uploaded to the MCA site for approval. The Pan Number and TAN is generated automatically at the time of incorporation of the Company. There is no need to file separate applications for obtaining PAN Number and TAN.

 

Step 6: Issue of the Certificate of Incorporation

On verification, the Registrar of Companies (ROC) Bagalore will issue a Certificate of Incorporation and we can commence our business in Bangalore.

 

Checklist For Registering OPC

  • Minimum and Maximum of one member.
  • A nominee should be appointed before incorporation.
  • Consent of the nominee should be obtained in Form INC-3.
  • The name of the OPC must be selected as per the provisions of the Companies (Incorporation Rules) 2014.
  • Minimum authorized capital of Rs.1 lakh.
  • DSC of the proposed director.
  • Proof of registered office of the OPC.

 

Timelines for OPC Registration

The DSC and DIN of the proposed directors can be obtained in 1 day. The Certificate of Incorporation of an OPC is obtained in 3-5 days. The whole incorporation process of an OPC takes approximately 10 days, subject to departmental approval and revert from the respective department.


Created & Posted by Aashu 

TAXAJ 


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