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Requirements For One Person Company Registration

2017-08-09 16:08:52 | Legal Services
Requirements of OPC
Basic requirements of OPC in India are as follow:
Shareholder (Member)
One person company can have only one member
The member must have Indian nationality and resident of India
The only individual can become a member, not any other firm, LLP or company.
Nominee Shareholder (Member)
In the case of death or incapacity to contract, it is required that owner of OPC chooses its nominee that will be the owner of OPC thereafter. Only one person can become the nominee. The person must be an Indian citizen.
The owner must appoint at least one director. OPC can have any no. of maximum directors. The director must be a resident of India and stayed in India not less than 182 in the previous calendar year. OPC can have more than one director. Proposed Director(s) must have a Director Identification Number (DIN) issued by the Ministry of Corporate Affairs.
Company Name
The name of a One Person Company consists of three parts:
The Name
Private Limited(OPC)
The proposed name shall end with words “Private Limited (OPC)”. ‘Proposed Company name is to be approved by the Registrar of Companies.
Registered Office Address
A temporary address is required at the time of registration of Company. It could be an address including an address of any of the Directors. After registration, the company has to file the permanent business address with documentary proof of address, ownership etc.
Company Objects
Objects of the OPC refer to proposed business activities. Objects provide the direction to the company. OPC objects shall be legal and shall not misuse or harm the society. Identifying the major objects in particular line of business help in setting the goal. The name of OPC shall also signify the main, prerequisite objects. If the name of the OPC is not describing a particular object, then the OPC can have multifaceted objects
Digital Signature Certificate (DSC)
All documents are filed online with Registrar of Companies. Digital Signature certificate is the ultimate way to verify the authenticity of the document. Hence, all the documents shall be authenticated by using a Digital Signature Certificate of the Director.
Professional Certification
Services of professionals such as Chartered Account, Company Secretary, Cost Accountant is required to make necessary Certifications and declarations for incorporation of a One Person Company (OPC).

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.

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