{"id":724,"date":"2017-03-14T12:14:38","date_gmt":"2017-03-14T12:14:38","guid":{"rendered":"https:\/\/companyregistrationonline.in\/?p=724"},"modified":"2020-10-07T11:11:23","modified_gmt":"2020-10-07T11:11:23","slug":"incorporate-one-person-company","status":"publish","type":"post","link":"https:\/\/companyregistrationonline.in\/blog\/incorporate-one-person-company\/","title":{"rendered":"How to incorporate a One Person Company?"},"content":{"rendered":"

[fusion_builder_container hundred_percent=”no” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” overlay_color=”” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” padding_top=”” padding_bottom=”” padding_left=”” padding_right=””][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” border_position=”all” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” center_content=”no” last=”no” min_height=”” hover_type=”none” link=””][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]<\/p>\n

The concept of One Person Company<\/a><\/strong> [OPC] is a new vehicle\/form of business, which was introduced by The Companies Act, 2013 [No.18 of 2013], thereby enabling the Entrepreneur(s) to carry on the business in the Sole-Proprietor to form of business to enter into a Corporate Framework.<\/p>\n

One Person Company<\/a><\/strong> is thus a hybrid of a Sole-Proprietor and a Company form of business, and it has been provided with the concessional\/relaxed requirements under the Act.<\/p>\n

This article will tell about the steps which are to be followed to incorporate a one-person company.<\/a><\/strong><\/p>\n

Only one shareholder:<\/u><\/strong><\/p>\n

    \n
  1. Features of One Person Company (OPC)<\/strong><\/li>\n<\/ol>\n

    Only a natural person, who is an Indian citizen and\u00a0a resident in India\u00a0shall thus be eligible to incorporate a One Person Company<\/a><\/strong>.<\/p>\n

      \n
    1. Nominee for the shareholder: <\/u><\/strong><\/li>\n<\/ol>\n

      The Shareholder shall thus nominate another person who would become the shareholders in case of death\/incapacity of the original shareholder.\u00a0 Such nominee shall thus give his\/her consent and such consent for being appointed as the Nominee for the sole Shareholder. \u00a0 Only a natural person, who is an Indian citizen and a \u00a0resident in India shall thus be considered to be a nominee for the sole member of a One Person Company.<\/p>\n

        \n
      1. Director : <\/u><\/strong><\/li>\n<\/ol>\n

        The company is required to have a minimum of One Director, the Sole Shareholder can thus himself be the Sole Director. The Company may, however, have a maximum number of 15 directors.<\/p>\n

        Steps to be followed to Incorporate One Person Company (OPC)<\/strong><\/p>\n

          \n
        1. The director is firstly required to obtain a \u00a0Digital Signature Certificate [DSC] for the proposed Director(s).<\/li>\n
        2. He is then required to obtain a \u00a0Director Identification Number<\/a><\/strong> [DIN] for the proposed director(s).<\/li>\n
        3. Thirdly, they are supposed to select a suitable Company Name and then make an application to the Ministry of Corporate Office for the availability of name.<\/li>\n
        4. The fourth step is to Draft a Memorandum of Association and the Articles of Association<\/a><\/strong> [MOA & AOA].<\/li>\n
        5. The fifth requirement is to sign and file various documents of the One Person Company<\/strong><\/a> including MOA & AOA with the Registrar of Companies electronically.<\/li>\n
        6. The director is required to pay the requisite fee to the Ministry of Corporate Affairs and also as \u00a0Stamp Duty.<\/li>\n
        7. The seventh step is to scrutinize the documents at the Registrar of Companies [ROC].<\/li>\n
        8. Lastly, he is required to obtain the receipt of Certificate of Registration\/Incorporation from ROC.<\/li>\n<\/ol>\n

          Related Article<\/strong>–<\/p>\n

          What are the advantages of OPC Registration?\u00a0<\/a><\/p>\n

          Board Reports for OPC and Small Company<\/a><\/p>\n

          [\/fusion_text][\/fusion_builder_column][\/fusion_builder_row][\/fusion_builder_container]<\/p>\n","protected":false},"excerpt":{"rendered":"

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