How to register a one person company?

A one person company registration is a single owner business entity. The owner of a one person company is typically the sole decision maker for the business. One person companies often have a smaller staff and lower overhead costs than larger businesses. One person companies are often more nimble and responsive to change than larger businesses. The owner of a one person company typically has a high degree of control over the business.

Solubilis does one person company registration in Chennai, Coimbatore & Bangalore. We have a strong team of experts to serve across India.

Requirements for OPC registration

A one-person company is a company that has only one director and one shareholder. The company must have a minimum paid-up capital of Rs.1 lakh. The registration process for a one-person company is as follows:

1. The director of the company must obtain a director identification number (DIN) from the Ministry of Corporate Affairs (MCA).

2. The director must then file an incorporation application with the MCA, along with the DIN and other required documents.

3. The MCA will then issue a certificate of incorporation, and the company will be registered.

Procedure

1. Digital Signature Certificate

Get the digital signature certificate for the principal Head of the One Person Company. A Digital signature certificate can be received by submitting the signed digital signature application form, alongside self-attested copies of a PAN card and address proof like driver’s permit, Aadhaar card, power bill, and so on. A digital signature certificate can be acquired in 1 to 2 working days.

2. Prepare Incorporating Documents

It requires the accompanying files to file for incorporation of One Person Company. List of reports expected for filing Form INC-29:

1.Memorandum of Association

2.Articles of Association

3.Declaration

4.Affidavit

5.Proof of enrolled office address

6.Copies of utility bill of enrolled office address not over 2 months old

7.Identity and address confirmation of the primary Director

8.Recognise and address confirmation of the candidate Director.

Prepare INC-29

On finishing the above files, a Financial Expert can set up the form INC-29. Submitted, submit the INC-29 to the MCA with the Digital Signature of a Charted Accountant or Company Secretary or Cost Accountant or Advocate. In this way, getting proficient help is significant.

Remember that the name certificate process is coordinated with the fuse interaction while utilizing the INC-29 form. Consequently, just a single name can be given during the incorporating system. The proposed name must not be like that of a current company or LLP name and any trademark. You can find out about picking the right name for your company from the accompanying articles  the:

• Company Naming Rules according to Companies Act, 2013
• Acceptable Name for Company or LLP

The procedure for doing a trademark search and understanding trademark status can be tracked down in the accompanying articles. There is no expense for doing a trademark search in India.

• The most effective method to do a trademark search in India.
• Figuring out trademark status

Further, there is no necessity for acquiring DIN for the

chosen Director. Notwithstanding, a letter from the proposed chosen Director communicating his/her agreement to go about as a candidate director for the One Person Company should be connected.

3. File for Incorporation

After setting up the above reports and form INC-29, it is necessary to join the digital signature of a financial expert (CA/CS/CWA/Legal counsellor) on the INC-29 form alongside the digital signature of the primary Director. Form INC-29 is submitted fit to be documented with the MCA.

4. One Person Company Enlisted

In the event that Form INC-29 and the connected reports are in conformance with the Companies Act, 2013, then the One Person Company would be enlisted and a Certificate of Incorporation would be given by the Registrar. In the event that there are blunders with the INC-29 filing, then the Enlistment center would demand a re-accommodation of form INC-29 with changes. Submit the form in somewhere around 15 days for going back over by the Registrar.

Benefits of One Person Company

The sole person from the OPC needs to choose his chosen one at the hour of enlistment of the company and at every one of the times from there on, who will, in case of the part’s demise or his insufficiency to contract, become the person from that One Person Company.

Like the part, the chosen one ought to likewise be a characteristic person who is a resident of India, whether occupant in India etc.

One Person Company has a different lawful substance unmistakable from its persons and Chiefs. OPC is more fit for consultants or people who want to have unlimited authority over their business without the investment of any subsequent person.

One Person Company registration in India is done with legal support lessen entrepreneurs from the burdens of sole ownership. And protects them with the situation with a company. (Update by means of MCA warning dated 01st February 2021_even NRIs can now integrate one person Company and go about as its part or chosen one).

AGM

Section 122(1) of the Companies Act, 2013 gives that the arrangements of Area 98, Section 100 and Section 111 are not pertinent to OPC. All in all the arrangements connecting with the General meeting, Extra-Ordinary General Meeting and Notice assembling to the general meeting are not pertinent to OPC.

Be that as it may, for the reasons for Section 114 where any business is expected to be executed at an annual general meeting or another general meeting of a company through an ordinary or special resolution. To know more about company registration in coimbatore, click here.

It will be adequate assuming that the resolution is imparted by the part to the company and entered in the minutes-book which is expected to be kept up with under section 118. And signed and dated by the part and such date will be considered to be the date of the meeting for every one of the reasons under this Demonstration.

Conclusion

This idea of organizing business will help in bringing the sloppy area of ownership into the coordinated corporate space for example private limited company.

It will likewise assist endeavours with getting better financial offices, for example, benefiting credit and so on. This idea will likewise urge unfamiliar business people to extend their business in India. We Solubilis have extended one person company registration in Chennai, Coimbatore, Bangalore and also in many other major cities.