Process of Incorporation of one person company in India

The process of incorporating a One Person Company (OPC) in India involves several steps and compliances. Here is a step-by-step guide:

Step 1: Obtain Digital Signature Certificate (DSC)

The first step is to obtain a Digital Signature Certificate (DSC) for the proposed director of the OPC. This is required to digitally sign the electronic documents during the incorporation process. You can obtain a DSC from certified agencies.

Step 2: Obtain Director Identification Number (DIN)

Next, the proposed director needs to obtain a Director Identification Number (DIN) from the Ministry of Corporate Affairs (MCA). DIN can be obtained by filing an online application on the MCA portal.

Step 3: Name Reservation

Once you have the DSC and DIN, you need to apply for the reservation of a unique name for your OPC. You can file the application for name reservation on the MCA portal by providing two preferred names in order of preference. The name should comply with the naming guidelines specified by the MCA.

Step 4: Drafting Memorandum of Association (MOA) and Articles of Association (AOA)

After the name is reserved, you need to prepare the Memorandum of Association (MOA) and Articles of Association (AOA) of the OPC. These documents outline the objectives, rules, and regulations of the company. The MOA and AOA should be drafted in accordance with the Companies Act, 2013.

Step 5: Filing of Incorporation Documents

Once the MOA and AOA are prepared, you need to file the incorporation documents with the Registrar of Companies (RoC) along with the required fees. The documents include Form SPICe (Single Person Company Incorporation Form), declaration by the proposed director, consent to act as director, and other necessary documents as per the checklist provided by the MCA.

Step 6: Payment of Registration Fees and Stamp Duty

The registration fees and stamp duty for incorporating an OPC depend on the authorized capital of the company. The fees can be paid online through the MCA portal.

Step 7: Certificate of Incorporation, PAN, TAN, EPFO and ESIC

After the scrutiny of the documents, if the Registrar is satisfied, they will issue a Certificate of Incorporation (COI). The COI signifies the creation of the OPC, and it includes the Corporate Identification Number (CIN) and the date of incorporation.

Step 8: Post-Incorporation Compliance

Once the OPC is incorporated, there are certain post-incorporation compliances that need to be fulfilled. These include obtaining a Goods and Services Tax (GST) registration (if applicable), opening a bank account in the company\'s name, and maintaining statutory records.

It is advisable to consult a professional, such as a company secretary, to ensure compliance with all the legal requirements and to guide you through the incorporation process.