Brief Description

• The idea of One Person Company in India was carried through the Companies Act, 2013 to support entrepreneurs who on their own are competent in starting an enterprise by allowing them to create a single person economic entity. One of the most important benefits of a One Person Company (OPC) is that there can be only one member in an OPC, while a minimum of two members is required for organizing and managing a Private Limited Company or a Limited Liability Partnership (LLP). Similar to a Company, a One Person Company is a different legal entity from its promoter, offering limited liability assurance to its sole stockholder, while having continuity of the company and being easy to combine.

• Though a One Person Company supports a lone Entrepreneur to run a corporate entity with limited liability security, an OPC does have a few imperfections. For instance, every One Person Company (OPC) must choose a candidate Director in the MOA and AOA of the company - who will become the partner of the OPC in case the sole Director is useless. Also, a One Person Company must be turned into a Private Limited Company if it passes an annual turnover of Rs.2 crores and must file audited economic statements with the Ministry of Corporate Affairs at the end of every Financial Year like all kinds of Corporations. Therefore, it is necessary for the Entrepreneur to carefully examine the characteristics of a One Person Company before incorporation.

•  Jan Gst Kendra is the business leader in company registration services in India, allowing all kinds of company registration like private limited company registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration, and Indian Subsidiary registration. The common time taken to create a one-person company registration is about 10 - 15 working days, subject to government processing time and client document submission. Get a free deliberation for one person company registration and company set up in India by scheduling an appointment with a Jan Gst Kendra advisors.

Documents Required

We have to prepare the following documents which are required to be submitted to the ROC:

• The Memorandum of Association (MoA) which are the objects to be followed by the Company or stating the business for which the company is going to be incorporated.

•  The Articles of the Association (AoA) which lays down the by-laws on which the company will operate

• Since there are only 1 Director and a member, a nominee on behalf of such person has to be appointed because in case he becomes incapacitated or dies and cannot perform his duties the nominee will perform on behalf of the director and take his place. His consent in Form INC – 3 will be taken along with his PAN card and Aadhar Card.

•  Proof of the Registered office of the proposed Company along with the proof of ownership and a NOC from the owner.

•  Affidavit and Consent of the proposed Director of Form INC -9 and DIR – 2 resp.

•  A declaration by the professional certifying that all compliances have been made.