Registering a One Person Company (OPC) in India involves several steps and compliance requirements. Below are the key steps for OPC registration, excluding stamp duty, as stamp duty rates can vary across states and are subject to change. It’s important to note that the process may vary based on the latest regulations, and it’s advisable to consult with a professional or the Ministry of Corporate Affairs (MCA) for the most accurate and up-to-date information. Here are the general steps for OPC registration:
Steps for OPC Registration:
- Digital Signature Certificate (DSC):
- Obtain a Digital Signature Certificate (DSC) for the proposed director and subscriber of the OPC. All documents filed electronically are required to be signed using a DSC.
- Director Identification Number (DIN):
- Apply for Director Identification Number (DIN) for the proposed director. DIN can be obtained by filing Form DIR-3 with the Ministry of Corporate Affairs (MCA).
- Name Reservation:
- Apply for name reservation through the MCA portal using Form SPICe+ (Simplified Proforma for Incorporating Company Electronically). The proposed name should comply with the naming guidelines and availability.
- Drafting of Memorandum and Articles of Association (MOA & AOA):
- Draft the Memorandum of Association (MOA) and Articles of Association (AOA) for the OPC. These documents outline the company’s objectives and rules of operation.
- Incorporation Application:
- File Form SPICe+ for incorporation, which includes details of the director, subscriber, and other relevant information. This form also serves as an application for PAN and TAN.
- Address Proof and Utility Bill:
- Provide address proof for the registered office of the OPC along with a recent utility bill.
- Affidavit and Consent:
- Obtain affidavits and consents from the proposed director.
- Declaration by Professional:
- Obtain a declaration from a professional (Chartered Accountant, Company Secretary, or Cost Accountant) stating compliance with all legal requirements.
- Payment of Fees:
- Pay the prescribed fees for incorporation and other related charges.
- Certificate of Incorporation:
- Once the Registrar of Companies (RoC) is satisfied with the documents, a Certificate of Incorporation will be issued.
- PAN and TAN Application:
- After incorporation, apply for the company’s PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) with the Income Tax Department.
- Bank Account Opening:
- Open a bank account in the name of the OPC using the Certificate of Incorporation and other necessary documents.
Post-Incorporation Compliance:
After incorporation, ensure compliance with post-incorporation requirements such as:
- Filing of Annual Returns:
- File annual returns and financial statements with the RoC.
- Appointment of Auditor:
- Appoint an auditor within 30 days of incorporation.
- Commencement of Business:
- Intimate the RoC within 180 days of incorporation regarding the commencement of business.
It’s crucial to stay updated with the latest regulations and compliance requirements. Consulting with a professional or a company secretary can help ensure a smooth registration process and ongoing compliance with statutory obligations.
