One person company registration

The companies act 2013 has given rise to the creation of a new category of companies called “One Person Company“. This is primarily intended to encourage entrepreneurship and facilitate. The formation of small and marginal business firms by giving them the status of a corporate body.

One person company registration

(a) Application for incorporation of an OPC has to be made with the registrar having jurisdiction over the registered office of the proposed OPC in form no.INC-2.

(b)Before applying for registration, application for reservation of the name shall be made in Form No. INC-1 along with the fees as provided in the companies (Registration offices and fees).

(c)The proposed names chosen are not undesirable.

(4)Please note that as per amendment inserted by the companies (incorporation) Amendment Rules, 2015 through Rule 36, which is effective from 01-05-2015 an integrated process for incorporation has been introduced for allotment of DIN, reservation of name, incorporation of companies and appointment of directors which should be filed in integral form no.INC-29 with the ROC having jurisdiction over the registered office of the proposed company with a fee of Rs.2000 in addition to the registration.

5. Prepare with the application for incorporation of the following :

(a) Draft Memorandum of Association You may use the standard Table A in Schedule I format for this purpose.

(b) Draft Articles of Association You may use the standard Table F in Schedule I format for this purpose.

(c) Proof of identity of Member and Nominee.

(d) Copy of PAN card of Member and Nominee .

(e) Residential proof of Member and Nominee .

(f) Consent of Nominee in Form No.INC-3.

(g) First Director to the Memorandum of Association and  Affidavit from the subscriber in Form No.INC-9.

(h) Specimen signature of subscriber and first directors in Form No.INC-10.

6. Declaration by professional who can be Chartered Accountant, Advocate, Company Secretary or Cost Accountant in practice should be submitted in Form No.INC-8.

7. If application is found to be in order in all respects Registrar will issue certificate of incorporation in Form.No.INC-11.

8. Upon receipt of certificate of incorporation, hold the first meeting of the board within thirty days from the date of incorporation.

(a) Adoption of MOA and Articles as approved by ROC.

(b) Adoption of common seal, if necessary, Adoption of common seal is new optional. This is clear from section 46 of the 2013 act which interalia, provides that a share certificate needs to be issued under the common seal of the company. If the company has one.

(c) Opening of Bank Accounts.

(d) Form No.INC-12 with regard to verification of address of registered office along with notarized copy of lease agreement not older than one month, authorization from owner of premises conveying that there is no objection to the applicant using the premises as proof of evidence and registered office of any utility service such as telephone, electricity, gas etc.

(e) Application for Income Tax Deduction Account No (TAN), Registration of company for VAT, Sales Tax and Service Tax.

(f) Authorization to certain persons for e-filing of returns with the ROC.

(g) Authorization for such other matters as may be required.

9. Please not that you need to hold only two meetings of the board of your company in a calendar year. One meeting each should be held in each half of the calendar year. Such that the gap between two meetings is not less than 90 days.

10. Provision relating to quorum for meeting of board shall not apply to OPC as it will have only one director on the board.

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