The concept of One Person Company in India was introduced through the Companies Act, 2013 to support owner of business who on their own are capable to start single person economic entity.
One of the biggest advantages of a One Person Company (OPC) is that there is only one member in One Person Company.
One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate.
Companies Act, 2013 has not prescribed any amount as minimum paid-up capital for one person company.
One Person Company Registration can be effectively completed by DhanTax (Business Consultant) in Delhi NCR,Kolkata, Mumbai, Bengaluru, Chennai & Bikaner,Tripura and other Indian cities.
If you want to register your Own One Person Company then you can consult with DhanTax.
DhanTax expert team will help you with new company formation procedure and Annual Compliance of Company.
You need to fill our simple company registration form and submit documents for formation of a company.
After submitting your documents we will provide you with DSC and DPIN.
Details provided by you will be verified and then we shall apply for name approval.
We will create all the required documents and file them with ROC on your behalf.
Once your company is incorporated, we shall send you all the documents and DSCs.
First of all, the partners have to apply for Digital signature and DPIN. Digital signature is an online signature used for filing and DPIN refer to Director PIN number issued by MCA. If the director already have DSC and DPIN, then this step can be skipped.
You need to provide 3 different options for your company name to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business.
Once name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement and
It typically takes 15- 25 days to form a One Person Company and get the incorporation certificate. Incorporation certification is a proof that company has been created. It also includes your CIN number.
Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.
The name of your company is the first impression to your Investors, buyers, creditors and stakeholders. Name should be relevant, unique and attractive. There are various factors that you should keep in mind while naming for your company.
The name should be concise. People should be able to pronounce it easily and they should be able to remember your company’s name easily.
The name of your company should be directly or indirectly related to your business. It should fit the company’s branding.
Name of your company should not be same or identical to an existing company or trademark as per Companies Act 2013.
The name of your company should end with the suffix “OPC” in a case of a One Person Company.
The name of your company should not be against law.
AOA means Articles of Association. These are the bylaws or rules based on which important matters like main business of the company or meetings is decided. These are standard legal documents prepared by Company Secretaries during registration of the Company.
Capital means investment made by shareholders into the company.
Authorised capital is an amount up to which company can issue shares. Authorised capital is mentioned during incorporation of the company based on which ROC registration fees and stamp duty is paid.
The Authorised capital is mentioned in the Memorandum of Association of the Company under heading of “Capital Clause”. It is even decided prior to incorporation of the Company.
The Authorised capital can be increased at any time in future by following necessary steps as required by law.
Paid up capital is a amount of money received by Company for which Company will issue shares to the shareholders.
Director Identification Number (DIN) is a unique identification number required for a person to become a director of a company. DIN is issued by ROC office (Ministry of Corporate Affairs)
It is similar to a PAN Card number.DIN is to be mentioned in documents while appointing a person as a director of a company.
A digital signature is electronic signature, which is in the form of codes. It is used for signing the electronic forms, filed with ROC for incorporation of Company. Digital Signature cannot be used in physical documents.
Company name is very important part in registration of company. The company name is divided into 3 Parts:
1) Keyword (brand name like TATA or Flipkart)
2) Activity word(i.e. showing nature of business like Software)
3) Business Type word (i.e. Pvt. Ltd. or LLP). For Incorporation of company, the suggested name should not match with existing companies or trademark.
Once the company is formed, it will be valid till it is officially dissolved/surrendered. No renewal or fees is required.
However, every year companies have to do Annual Compliances related with ROC.
DhanTax can incorporate a One Person Company within 20-30 days.
The time took also depends on relevant documents provided by the applicant and speed of approvals from government.
To ensure speedy registration, please pick a unique name for the proposed Company and make sure you have all the required documents prior to starting the registration process.
You need to start the One Person Company by maintaining minimum balance in Bank current Account.
You can also show that the capital has been utilised as the pre-incorporation expenses of the startups e.g, private limited registration expenses.
You can also show this capital has been infused in form of assets such as computers etc.
No, There is no requirement of a proper office.
You can even register your company at your residential address.
It is perfectly legal to start the company at your house.
Previously, I have used multiple offline & online CAs/ Lawyers. but DhanTax clearly provided me the best service with reasonable price and fast. Annual Company compliance service provided to my company is awesome.
They picked up and organised us, to the level that astounded me. Today we are experiencing a 24% growth and world wide coverage. We don’t have stress regarding company legal & Taxation compliance. DhanTax is providing us best services.
I will highly recommend DhanTax for newly startups given its quality support & best Services.
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