Step by Step Process of One Person Company in India

NOIDA, India - Nov. 13, 2024 - PRLog -- OPC limits the liability of its directors, thereby protecting their personal assets in the event of any legal action or business loss. The concept of OPC was introduced to strengthen small businesses and help them thrive better by enjoying company status and benefits like limited liability. Simply put, OPC helps small businesses contribute better to the nation's economy.

According to Section 3 (1) (c) of the Companies Act, 2013, an OPC is a kind of Company incorporated for any lawful purposes by a natural person. A One-Person Company will be registered as a private limited company with one member and one director. By virtue of Section 3(2) of the Companies Act, it can be opted as a Company Limited by Shares or a Company limited by Guarantee; or an unlimited liability company.

How to register a One-Person Company?
To register your OPC online in India, follow the steps mentioned below;

Step 1: Obtain Digital Signature Certificate (DSC)
The one-person company registration process begins with applying for and obtaining a Digital Signature Certificate (DSC) for the proposed director and shareholder of the OPC.

Step 2: Acquire Director Identification Number (DIN)
Acquiring a Director Identification Number (DIN) for the proposed director of the company is the next step.

Step 3: Reserve Name
Apply for your OPC name reservation through the MCA portal by using Form SPICe+ (Part A). Choose a unique name for your OPC that is not similar to any existing company or trademark.

Step 4: Draft MOA and AOA
Prepare the Memorandum of Association (MOA) and Articles of Association (AOA) of the company. Afterward, file these crucial documents with the Registrar of Companies (ROC).

Step 5: Filing of Forms
After filling out the Form, submit it online with the essential documents and the prescribed fee. If the ROC finds the submitted details and documents correct and valid, it will process this application form and provide you with a confirmation of your OPC Registration.

Step 6: Issuance of Incorporation Certificate
On ROC's successful approval of your application, a Certificate of Incorporation will be issued, and your OPC will be registered.
An OPC registration online process usually takes 7-10 days to complete using the SPICe+ Form.

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