Yes, One Person Company will be formed as similar as a "Private Limited Company". It can be formed as company limited by share capital or limited by guarantee or unlimited company. The words "One Person Company" will have to be mentioned in brackets below the name of such company, wherever its name is printed, engraved or affixed.
OPC is one of the easiest forms of corporate entities to manage. Very few ROC filing is to be filed with the Registrar of Companies (ROC). No need to conduct Annual General Meeting (AGM), so lesser compliance cost than a private limited company.
Only a person, who is an Indian citizen and resident in India, shall be eligible to incorporate a One Person Company. For becoming a director in a company, no professional or educational qualification is required. Any individual can become a shareholder in a one person company.
Digital Signature Certificate (DSC) as the name suggests it is a digital signature of an individual and it is required for filling the e-forms of company incorporation electronically to Ministry of Corporate Affairs.
The Unique Number is required to allot to an Individual which remains valid for whole life of the individual and is required to become director of any company.
Following are the documents required for company incorporation for director and nominee
Self attested PAN card copy.
Self attested copy of any one of the Identity Proof like Driving License, Passport, Voter ID & Aadhar Card
Self attested copy of any one of the Address Proof like Bank Pass Book/Bank Statement, Telephone Landline Bill, Mobile Bill & Electricity Bill
Company Address proof Electricity Bill, Telephone Bill, Mobile Bill & Gas Bill AND Rent Agreement (If Rented) AND NOC for doing Business & for taking Registration
The minimum capital shall be Rs. 1,00,000/- for incorporation of OPC.
Only a natural person who is an Indian citizen and a resident in India is eligible to be a nominee member. Nominee must also be over 18 years of age.
A person can incorporate upto five One Person Companies.
Yes, promoters need to be present to personally meet us at our office or meet at any place for the registration of a Company. All the incorporation documents required to be present in original and scanned copy also required to submit.
To incorporate a company we required approximately 5 to 8 working days. The time taken for incorporation will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy process of incorporation, please choose a unique name for your Company and ensure you have all the required documents are provided before starting the incorporation process.
Firstly we just need to find a unique name as prefix and promoters need to provide name of the proposed company along with significance of word. Secondly the name needs to include a word about the company business activity. Finally before selecting Names it will be advisable to check on Google, MCA Portal, MCA Guidelines and Trade Mark site the availability of Name.
The cost of registration is almost the same for both.
A Company can own and enjoy property in its own name, neither the members are not owners of the company's property and nor the members have insurable interest in the property of the company.
MOA & AOA of the company defines all the rules and regulations and the working flow of company. It also defines everything about the company's objects, capital, identity, goals and working pattern. After the name of the company is select the Memorandum of Association and Articles of Association of the company is required to be drafted, the last page of the MOA and AOA is known as subscriber sheet which need to be filled in by the promoters in their own hand writing including their personal details and shareholding ratio.
Get the certificate of incorporation along with PAN & TAN within 6 to 10 days after uploading the Spice e-form INC-32, Spice MOA(INC-33), Spice AOA(INC-34) along with Form 49 A(PAN) and 49 B(TAN).