Checklist to register a one person company

Registering a One Person Company (OPC) in India is a relatively simple process, but it can become a bit overwhelming due to the various requirements and steps involved. To make the process easier, it’s important to have a checklist to ensure that all the necessary steps are completed and all the required documents are in order. In this article, we’ll provide a detailed checklist for registration of opc in India.

Eligibility Criteria

Before beginning the registration process, it’s important to ensure that you meet the eligibility criteria set out by the Companies Act, 2013. The following are the key requirements that must be met to register an OPC:

1. Indian Nationality: The promoter of an OPC must be an Indian citizen and a resident of India. A resident of India is defined as a person who has stayed in India for a period of not less than 182 days in the immediately preceding financial year.
2. Age limit: The promoter of an OPC must be at least 18 years old.
3. Limit on number of OPCs: A person can only be a member in one OPC as a sole shareholder.
4. Nominee Director: The OPC must appoint a nominee director who will take control of the company in the event of the demise or incapacity of the sole shareholder.

Documentation

The following documents are required for registering a One Person Company:

1. PAN Card of the Promoter
2. Address Proof of the Promoter
3. ID Proof of the Promoter
4. Digital Signature of the Promoter
5. Memorandum of Association and Articles of Association
6. Proof of registered office address

Name Approval

The first step in registering a One Person Company is obtaining the approval of the name from Registrar of Companies (ROC). The following are the key steps in the name approval process:

1. Check the availability of the proposed name on the MCA portal.
2. File Form INC-1 for name approval along with the fees.
3. Obtain the name approval certificate from ROC.

Incorporation

Once you have obtained the name approval certificate, the next step is to incorporate your One Person Company. The following are the key steps in the incorporation process:

1. Prepare the memorandum of association and articles of association of the company.
2. File Form INC-2 along with the memorandum of association, articles of association, and other required documents with ROC.
3. Obtain the certificate of incorporation from ROC.

Compliance and Obtaining PAN & TAN

After the incorporation of the company, it is mandatory to obtain PAN and TAN for the company and file for compliance with the Registrar of Companies (ROC).

1. Obtain PAN and TAN for the company.
2. File for compliance with the ROC (form INC-22)
3. Obtain the compliance certificate

Opening a Bank Account

Once you have completed the incorporation process, you will need to open a bank account in the name of the company. The following are the key steps in opening a bank account:

1. Visit the bank with the certificate of incorporation, PAN card, and other required documents.
2. Fill out the bank account opening form.
3. Submit the form and required documents.
4. Wait for the bank to process the application.
5. Once the account is approved, you will receive an account number and other banking details.