Close One Person Company

As per Companies Act, 2013, OPC is defined as a company having one person as its member meaning thereby OPC is effectively a company that has only one shareholder as its member. One of the biggest advantages of an OPC is that there can be only one member in an OPC, while a minimum of two members is required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership. Similar to a Company, an OPC is a separate legal entity from its members, offers limited liability protection to its shareholders, has continuity of business and is easy to incorporate.

Every OPC must nominate a nominee Director in the MOA or AOA who will become the owner of the OPC in case the promoter Director is disabled. It must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year. Therefore, it is important for the Entrepreneur to carefully consider the features of an OPC before incorporation. Legal Suvidha Providers can help incorporate a One Person Company (OPC) in India. So, before incorporating OPC following things must be kept in mind:

• Only a Natural person who is a resident of India can form OPC but not AOP, Body corporate, Company, etc.

• One can only be the member of one OPC or the nominee of one OPC only.

• Conversion of OPC is necessary after paid-up share capital exceeds Rs. 50 L or the average annual turnover exceeds Rs. 2 Cr. in 3 immediately preceding financial year.

• Rules of OPC do not permit Non-Banking Financial Institutions.

• An OPC should not be confused with Sole proprietorship i.e. promoter is not personally liable in case of an OPC.

 

One Person Company Registration Process

OBTAINING DSC & DIN

Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Directors of the Private Limited Company which is necessary to file the company registration documents. For this, you will only need to provide a few scanned documents and details; our representatives will fill the form and submit it online. DIN and DSC can be obtained for the proposed Directors within 1 to 2 days.

NAME APPROVAL

A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 2 to 3 working days.

DRAFTING MOA AND AOA ELECTRONICALLY

It takes 2 to 3 days to draft MOA and AOA Electronically in Spice MOA (INC-33) and Spice AOA (INC-34).

COMPANY REGISTRATION

After drafting the e-MOA and e-AOA, the incorporation Spice Form INC-32 is submitted along with link form Spice MOA (INC-33) and Spice AOA (INC-34) to the MCA. Then Form 49A & 49B will be generated for PAN & TAN which have to be uploaded to MCA. After uploading the SRN status will change to ‘pending for approval now’. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time. Please note that form 49A and 49B have to be mandatorily applied with SPICe. If the same is not filed within 2 days of submitting SPICe (INC-32), the application for incorporation will be marked as 'Invalid'.

 

Documents required

For Directors & Shareholders

1. Self Attested PAN Card copy

2. Self Attested copy of any one of the Identity Proof(Voter's ID/Passport/Driver's License)

3. Self Attested copy of Address Proof in the name of the director (Any utility bill i.e., mobile bill/water bill/ electricity bill, or bank statement which should not be older than two months)

4. Passport-sized photograph

For Registered Office

1. Rent Agreement (Notarised: For rented property)

2. Sale Deed/Property Deed in English (in case of owned property)

3. No-objection Certificate from the property owner

4. Latest Electricity Bill / Mobile or Telephone Bill / Latest Bank Statement/Gas Bill

 

How “The Account Masters” will help you in close a one person company ?

The Account Masters will do satisfying close a one person company. We are providing close a one person company. services in Ahmedabad, Gujarat, India