OPC (One Person Company) is a new form of business structure in India that has been introduced by the Companies Act, 2013. An OPC is a hybrid of sole proprietorship and a private limited company, where a single person can incorporate and run the company without the need for multiple directors. In this article, we will be discussing the registration of OPC in India.
Step 1: Determining the Eligibility
Before registering an OPC, it is important to determine if you are eligible for it. The following criteria must be met to be eligible for OPC registration:
The applicant must be an Indian resident
The applicant should not be a minor
The applicant must not be a member of any other company as a nominee director
The applicant should not have any existing OPC or LLP
Step 2: Obtaining the Digital Signature Certificate (DSC) and Director Identification Number (DIN)
Once you have determined your eligibility, you need to obtain the Digital Signature Certificate (DSC) and Director Identification Number (DIN). The DSC is a secure digital signature that is used to digitally sign the documents while incorporating the company. The DIN is a unique identification number that is allotted to the directors of the company.
Step 3: Filing the Incorporation Form
The next step is to file the incorporation form, which is also known as Form SPICe (INC-32). This form is used for incorporating a new company and also for obtaining the DIN and DSC. This form can be filed online on the Ministry of Corporate Affairs (MCA) website.
Step 4: Obtaining the Name Approval
Once the Form SPICe (INC-32) has been filed, the next step is to obtain the name approval for the company. You can apply for name approval by filing Form RUN (Reserve Unique Name). This form can also be filed online on the MCA website.
Step 5: Filing the Incorporation Documents
After obtaining the name approval, the next step is to file the incorporation documents with the Registrar of Companies (ROC). The following documents need to be filed:
Memorandum of Association (MOA)
Articles of Association (AOA)
Incorporation Form (SPICe -INC-32)
DSC and DIN of the Director
Name Approval Certificate
Step 6: Obtaining the Certificate of Incorporation
Once the incorporation documents have been filed with the ROC, the next step is to obtain the Certificate of Incorporation. This certificate is a proof of the legal existence of the company and is issued by the ROC.
Step 7: Registering for Goods and Services Tax (GST)
The final step is to register for Goods and Services Tax (GST). GST is a tax that is levied on the supply of goods and services in India. An OPC must register for GST if its annual turnover exceeds Rs. 20 lakhs.
In conclusion, the process of registering an OPC in India is fairly simple and straightforward. The key to a successful registration is to understand the eligibility criteria and follow the steps as outlined by the Companies Act, 2013. With the right guidance and support, you can easily incorporate your OPC and start your business operations.