OPC (One Person Company) is a hybrid structure, wherein it combines most of the benefits of a Proprietorship and company. It has only one person as a Director and Shareholder also..
One Person Company (OPC) has been recently introduced in India to promote business managed by a single Entrepreneur. Corporate entities like Limited Liability Partnership, Private Limited Company two or more people to partner.
Apply for DIN: All the existing or intending directors of the company must obtain a Director Identification Number (DIN
Apply for DSC: The Digital Signature is required for all documents that submitted online form. This is to ensure security and Password of the documents.
- Register DSC at MCA Website: The DSC obtained has to be registered at the Ministry of Corporate Affairs (MCA) Website.
- Apply for company name: Now you have to apply for approval of your company name. Some of the details are required on the form are as follows:
- Design MOA: this is the next step where you have to create the Memorandum of Association what is the purpose of the company.
- Design AOA: This (AOA) can be easily prepared under guidance of any Lawyer or Chartered Accountant.
- Examine MOA & AOA: After careful examination of the MOA and AOA, the Registrar of Companies must verify them.
- Apply for Incorporation: In the last we have to apply for Incorporation of the Company, this is the last phase of process.
A. Authorized capital
B. Main objectives
C. Address of the company
D. If, Registrar of Companies approved the name or If name is rejected then we have to apply again for the approval.
If all the documents are in order then it will issue a Certificate for Commencement of Business.