The ultimate deal on One Person Company registration in India |
Posted: February 8, 2019 |
Before we know about One person company registration process, first of all, we have to know what is One Person Company (OPC). One person company is a new type of business entity that allows a single enterpriser and business person to operate a corporate entity with limited liability protection. In this blog, we will discuss about One Person Company registration and other aspects of One Person Company registration. Here we will cover the topics which include: I) Pre-requisites for One Person Company Registration II) Benefits of One Person Company Registration III) One Person Company Registration Process IV) Documents Required for One Person Company Registration Let's start the Journey. I) Pre-requisites for One Person Company Registration Certain requirements require to be fulfilled before taking One person company registration. List of the requirements need for One Person Company Registration is given below: 1) One shareholder 2) One Nominee 3) One director 4) One person II) Benefits of One Person Company Registration By taking One Person Company registration, you are entitled to avail a number of advantages. List of the benefits of One Person Company registration is given below. 1) Endless characteristic - If the Directors or shareholder go away from the company then also OPC continues its existence. 2) Limited Liability Protection - Directors and shareholder of an OPC are not responsible to pay the debts of the company from their personal assets even if the company is declared insolvent.
3) A single person can start a company - An OPC can be incorporated by only one individual person.
4) Separate Entity - An OPC being a legal entity is distinct from its directors and shareholder.
5) Name of the company is protected - After registration of OPC, the name of the company gets protected. Registrar of companies will not accept registration of another company which is similar, identical with an existing name.
6) No necessity of minimum paid-up capital - There is no necessity of any minimum capital to start an OPC.
III) One Person Company Registration Process Here we will discuss about One Person Company Registration Process and if you wish to take registration then you have to follow this process discussed below: 1) Apply for Digital Signature Certificate - The first step is to get Digital Signature Certificate from the proposed directors with documents like address proof, Aadhaar card, PAN card, Photo etc. 2) Apply for Director Identification Number (DIN) - Next step is to apply for the DIN. This can be done in SPICE form along with the name and address proof of the proposed directors. 3) Approval of name - The next step in an OPC registration is the approval of the name of the company. Approval name can be obtained by filing the application in Form SPICE-32 or by using Reserve Unique Name (RUN) web services of Ministry of Corporate Affairs by selecting 1 preferred name. Name requires to be approved by the Ministry of Corporate Affairs. 4) Filing of forms - Applicant seeks to register an OPC has to fill up form with necessary documents. All those documents and form will be uploaded in the site of Ministry of Corporate Affairs for approval. 5) Issuance of Certificate of Registration - After completion of the verification process, the Registrar of Companies will issue a certificate of registration. After obtaining a registration certificate one can start the business. IV) Documents Required for One Person Company Registration For registration of One Person Company you have to submit certain documents. List of the documents need for one person company registration is listed below. 1) Memorandum of Association 2) Articles of Association 3) PAN card, Aadhar Card 4) Proof of the registered office of the proposed company along with ownership proof 5) No objection certificate of the owner 6) Affidavit of the proposed director 7) Declaration of the professional for production of all the documents Conclusion One person company extends the concept of limited liability to a company run by a single person. If there is only one promoter or founder then one person company is the best way to start a company Corpbiz is an award-winning company in respect of providing service of one person company registration. If you are planning to take one person company registration, then contact Corpbiz, you can get best and affordable service. Source url - https://corpbiz-00.webself.net/blog/2019/02/07/the-ultimate-deal-on-one-person-company-registration-in-india
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