Incorporation of One Person Company under Companies Act 2013
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No need to have a co-founder. Even one man show can incorporate a Company and enjoy the benefits of limited liability and separate legal entity. All sole proprietors should go for OPC
Transcript of Incorporation of One Person Company under Companies Act 2013
- INCORPORATION OF ONE PERSON COMPANY (OPC)
- WHAT IS ONE PERSON COMPANY (OPC) Even one man show can incorporate a Company and enjoy the benefits of limited liability and separate legal entity of a Company. No need to have co-founder to start your business
- BASIC POINTS ON ONE PERSON COMPANY (OPC) Only a natural person who is Indian Citizen and resident in India can incorporate OPC. Resident in India means a person who had stayed in India for a period not less than 182 days in the preceding calendar year. Minimum capital is Rupees One Lac. Subscriber of MOA of OPC need to appoint a nominee. OPC cant do financial activities. OPC cant convert itself into any other form of Company voluntary, within 2 years of incorporation except when its Paid up share capital exceeds 50 lacs and turnover exceeds 2 crores.
- INCORPORATION OF ONE PERSON COMPANY (OPC) Incorporation is divided into following steps:- Pre Incorporation Step Name availability Step Incorporation Step Post Incorporation Step
- PRE- INCORPORATION STEP Apply DIN (Directors Identification Number) Documents required are Identity Proof Address Proof Passport Size Photograph Verification in DIR 4 Apply DSC (Digital Signature Certificate) Documents required are Identity Proof Address Proof
- NAME AVAILABILITY STEP Name is applied in Form INC-1 along with requisite fees. Name of OPC is written as XYZ Services Pvt Ltd (OPC/ One Person Company)
- INCORPORATION STEP Incorporation to be filed in Form INC-2 Documents to be attached are MOA AOA Identity proof, Residential Proof and PAN Card of members and nominees Consent of Nominee in Form INC-3 Affidavit in Form INC-9 of subscriber to MOA and first director. List of all companies (specifying their CIN) having the same registered office, if any. Specimen Signature in Form INC-10 Appointment of Directors in Form DIR-12 Documents to be attached are Declaration by the first director Interest in other entities
- FINAL CERTIFICATE OF INCORPORATION After approval of Incorporation documents by concerned Registrar of Companies (ROC), Certificate of Incorporation is issued by concerned ROC in Form No INC -11.
- POST INCORPORATION STEP Notice of situation of registered office to be filed in Form INC-22 Documents to be attached are Lease deed/ Rent agreement along with rent receipts. Copies of utility bills as mentioned above (not older than 2 months) A proof that the Company is permitted to use the address as the registered office of the Company if the same is owned by any other entity/ Person (not taken on lease by company) Form INC-22 needs to be filed within 30 days from incorporation. Commencement of Business in Form INC-21 Documents to be attached are Specimen signature in Form INC-10 Form INC-21 needs to be filed within 180 days from incorporation. In this form a declaration is given that Form INC-22 is filed and subscribers had paid their subscription amount.
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