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Step by Step Guide for OPC(One Person Company) Registration
OPC or One Person Company is a new concept that is introduced in India in the year 2013. Before that, no one was aware of this one person company concept.
According to the Companies Act of 1956, there should be at least 2 directors and 2 shareholders to form a private limited company. But, according to the latest concept, only one person is required to start a company. That person can be the shareholder as well as the director.
The OPC concept has helped in developing many one enterprises with sole proprietor or entrepreneur. There are many advantages of the OPC concept and because of that many enterprises are registered under the OPC.
Registering a company under the one person company registration is not that easy. Only an experienced person will be able to handle the pressure and complete the process on time. Because it is a long and confusing process, many entrepreneurs seek the help of a professional agency for helping them with the OPC registration.
Steps to Register Your Company under the OPC Registration
## Digital Signature Certificate ##
The first step in registering your company under the one person company registration is to obtain a digital signature certificate or in short DSC. The digital signature certificate is issued by a CA who is approved by the Ministry of Corporate Affairs. Some of the Ministry of Corporate Affairs approved CA’s are TCS, MTNL CA, nCode Solutions and Central Exercise and Custom. In order to go ahead with your one person company registration, it is important for the proprietor to get a digital signature certificate.
## Director Identification Number ##
Once you have successfully obtained the digital signature certificate, the next step is to get a unique director identification number or in short DIN. The concept of a unique DIN was introduced in the year 2006. In order to process your one person company registration, it is important for the director of the company to obtain a DIN in the prescribed time frame. For getting a unique DIN, there is a registration fee and it takes around 7 days to get your unique director identification number. One point to be noted here is that in order to get the DIN, the person has to submit the PAN card details and the name mentioned in the PAN card should be matching with the name in the DIN application form.
## Submission of Application Form ##
The next step is to submit the E-Application form. The e-application form should be correctly filled and all the supporting documents with the digital certified signature on it should be uploaded to MCA portal 21. Once you have successfully uploaded the details, you will have to pay the fees for the DIR E-Form.
## Register the DSC ##
The next step is to register the DSC of the person who is eligible to fill the e-forms on MCA21.
## Reserve the Name ##
It is important to propose 6 names to the registrar. If the registrar, after checking for the validity of the name approves any one of it, you can move to the next step.
## Drafting of Memorandum of Association and Articles of Association ##
The next step is to draft the MOA and AOA correctly and submit for review to the registrar. All the details should be correct as it will be verified by the registrar.
## Certificate Issue ##
Finally, after all the verification process is over, if the documents submitted by you are good, you will be issued with the OPC certification.
An OPC registration is a long process and if you don’t have the patience to do it yourself, it is good to hire professional help.