One Person Company (OPC) has various advantages, including cheap finance, limited liability, a single proprietor, and so on. It is quite easy to incorporate OPC and run the business. This blog deals with the documents required for one person company incorporation.
Earlier, it was required to have a minimum of two people to start a business. The Companies Act of 2013 incorporated a notion of One Person Corporation in Section 2(62). Section 2 (62) states that a One Person Company can be formed by one member and not more than one member.
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What is a One Person Company?
A One Person Company is a unique business structure in India that allows a single individual to own and operate a company. This companies combines the benefits of a sole proprietorship with the limited liability protection of a corporation. The owner has complete control over the business, making all decisions without needing a partner or board of directors.
An OPC is ideal for solo entrepreneurs who want to scale their operations while enjoying the legal advantages of a private limited company. This structure simplifies management and compliance, making it easier for individuals to start and run their businesses independently.
What are the documents required for one person company?
- A. Documents from Director or shareholder or Nominee
- Identity Proof of the applicant
- Permanent Account Number (PAN) Card
- Aadhaar Card
- Passport size photo
- Driving License
- Voter Identity Card
- Telephone Bill
- Electricity Bill
- Bank Statement with latest transactions
NB: These bills and statement must not be older than 2 months and also must be self attested.
- B. Documents to be signed by the director of OPC
- Consent required to Act as Director, Form the DIR-2.
- Details required for Director Identification Numbers (DIN).
- After the DIN is allotted, the Declaration of DIN is required.
NB: All these must be signed by director of OPC.
- C. Documents to be signed by Shareholder
- Application of Digital Signature Certificate (DSC).
- Affidavit by director and subscriber as per INC-9.
- D. Documents to be signed by shareholder’s nominee
- Details and information of nominee shareholder.
- From the INC-3 consent must be received by the nomination of shareholder.
- E. Documents from Company or LLP or Trademark Owner
- Formal authorisation required for using the Name of OPC or Trademark of OPC.
- F. Registered Office – Address
- No Objection letter must be provided by the address owner, for the purpose of using it as the Registered Office address of the One Person Company.
- Address Proof should be in the name of the OPC.
- Utility Bills like Electricity bill, Gas bill, Water bill and Telephone bill which should not be old 2 months older.
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In conclusion, the incorporation of a One Person Company under the Companies Act of 2013 offers a simplified and advantageous option for solo entrepreneurs in India. The required documents required for one person company encompassing identity proofs, consent forms, and authorization documents, facilitate a streamlined process for individuals seeking the benefits of limited liability and a single proprietorship.
FAQs
1. What are the basic documents required for one person company in India?
The documents required for one person company in India are Identity Proof, Address Proof, Registered Office Proof, Utility bill etc.
2. Do foreign nationals need to provide additional documents for OPC registration?
Yes, Foreign nationals must supply supplementary documentation, such as a valid passport and, if required, a visa. These documents must be notarized in their native nation, and if in a foreign language, they must be translated into English.
3. Are there any specific requirements for the registered office proof?
Yes, If the office is rented, the rental agreement must be accompanied by a No Objection Certificate from the owner.
Selling deed or property tax document for a self-owned office.
Utility bills with the registered office’s address not more than two months old.
5. What are documents required for one person company’s nominee?
The OPC nominee must supply the following documents like Identity verification, Proof of residence, Passport size photograph.
6. Do I need to submit a No Objection Certificate for OPC registration?
Yes, if the registered office is rented, you will usually require a letter of authorization from the owner. This certificate certifies that the owner has no objections to the OPC utilising the premises as its registered office.
7. Are these documents submitted physically or electronically for OPC registration?
The Ministry of Corporate Affairs (MCA) site is commonly used for OPC registration. During the online registration procedure, you must scan and upload these papers in the specified format.
