Quick Guide: How to register a One Person Company in India
To register a One Person Company (OPC) in India, follow these steps:
Step 1: Obtain a Digital Signature Certificate (DSC) The first step is to apply for a Digital Signature Certificate (DSC) for the proposed director of the OPC. A DSC is required for the online filing of forms.
Step 2: Obtain a Director Identification Number (DIN) The next step is to obtain a Director Identification Number (DIN) for the proposed director of the OPC. DIN is a unique identification number assigned to each director of a company.
Step 3: Name Approval The proposed name of the OPC should be approved by filing the form SPICe+ (Simplified Proforma for Incorporating Company Electronically) along with the required fees. The name should comply with the Companies Act, 2013 and should not be similar to an existing company or LLP.
Step 4: Incorporation Once the name is approved, the OPC can be incorporated by filing the SPICe+ form along with the required documents such as memorandum of association (MOA), articles of association (AOA), and affidavit.
Step 5: PAN and TAN After the incorporation of the OPC, the permanent account number (PAN) and tax deduction and collection account number (TAN) of the company should be obtained.
Step 6: Bank Account The OPC should open a bank account in the name of the company and get it registered with the Reserve Bank of India (RBI).
Step 7: GST Registration If the OPC is expected to have an annual turnover of more than Rs. 20 lakhs, GST registration is mandatory.
Note that the entire process can take anywhere from 15-30 days, depending on the speed of approval and processing by the authorities. It is recommended to consult with a professional chartered accountant/ a company secretary or professional company to ensure compliance with all legal requirements and procedures.
To get started with the process to register a One Person Company in India- click here.