How to Register a One Person Company
The Companies Act, 2013 introduced One Person Company model by providing an opportunity to enter into a corporate world with a single person as a member and having the privileges of a private company. Below is the process of registering a One Person Company in India.
Step 1A: DIN and DSC Registration
Along with the registration of Name of the company, the key shareholder of the company should obtain his Directors Identity Number or DIN. Also, he is required to take a Digital Signature Certificate as the nation in a venture to make all the governmental registrations in digital format.
For a person intending to become the director of the company should apply for DIN in Form DIR-3 with the following documents
- PAN Card
- Documents for address proof
- Passport Size Photos
- Form Dir-4 for Verification
All the documents submitted along with the DIR-3 application have to be encrypted with a DSC as self-attested.
Step 1B: Name Reservation
An application for the reservation of a name shall be made in Form No. INC1 along with the fee as provided in the Companies (Registration offices and fees) Rules, 2014.
Step 3: Drafting Memorandum of Association and Articles of Association
Memorandum of Association and Articles of Association are the fundamental requirement of a registered company and is mandatory for moving further in the process.
Step 4: Incorporation of One Person Company
Documents required for filing INC-2 are noted below:
- Identity Proof -Member, Nominee
- Address Proof - Member, Nominee, Company
- PAN Card & its Copy - Member, Nominee
- Utility Service Proof - Company
- Director Consent in DIR-2 format
- Consent of nominee in Form INC -3
- Declaration in INC-8
- Affidavit to memorandum in Form No INC-9
- Specimen Signature in Form No INC-10
- Memorandum of Association
- Articles of Association
- Details of subscriber to MoA and AoA
When the promoter is NOT the sole director of the OPC, Form DIR-12 shall also be filed along with (linked) form INC-2. It is worth to note here that the company should file form INC-22 within 30 days once form INC-2 is registered in case the address of correspondence and registered office address are not same.
Step 5: Registration with Registrar of Companies
Further to the submission of INC-2 and subsequent documents online, the prescribed fees and stamp duty to be remitted. On receipt of the payment, the RoC will take up the application for scrutiny and subsequently, the RoC approves such application and issues Certificate of Incorporation. During scrutiny, the RoC may ask for additional documents or clarification and the director is bound to submit the documents as such needed.
Upon receipt of Certificate of Incorporation, the company can start its operations officially.