One Person Company
Karnataka Value Added Tax Act, 2005
14 working days
1. Self attested copy of PAN
2. Self attested copy of Address Proof
3. Power of Attorney
4. Rent Agreement of office
5. Electricity - latest bill of office
6. Four Photos
7. Registration form & CST Form
8. Rent agreement of house
9. Electricity bill of house
10. Latest two bank statement
One Person Company
The concept of One Person Company (OPC) is initially introduced Under Sec 2(26) of Companies Act, 2013. AS per this Act One Person Company (OPC) means a Company which has only one person will be the only director and shareholder. Basically it is a private company with some unique features. There is a nominee director, but with no power until the original director is incapable of entering into contract. Furthermore, if an OPC hits a turnover of over Rs. 2 crore or has a paid-up capital of over Rs. 50 lakh, it must be turned into private limited company or public limited company within 6 months.
OPC Registration Procedure
The process of Registration of OPC is very simple one.
First the sole shareholder should get Director Identification Number (DIN) as well as a
- Then he should apply for the name of Company.
- After that he should get consent of the Nominee in the prescribed form.
- Then he shall file the consent along with the final incorporation forms with the Memorandum and Articles and other required documents.
- After that he shall receive the final incorporation certificate from the register of companies. Now he can commence business under the name.
The Ministry of Corporate Affairs has introduced a new integrated e-form INC-29 w.e.t 1st May. 2015. INC-29 will provide applicants a facility to avail of the following services through a single e-form:
- Allotment of Director Identification Number
- Name of a company;
- Incorporation of a company.
INC-29 will be available for incorporating of companies other than section 8 companies and will accommodate applications for up to three new DIN applicants who will be Directors of the company being incorporated.
How Thestartuppoint Going to Help You in Registration
Starting an OPC will take 10 to 15 working days, subject to the documents required and legal processing time. You would need to provide various scanned Documents over the course of the process by our representative.
The director in the company needs to apply for a Digital Signature Certificate (DSC), which is necessary for filing forms at the next stage. It will take 5 working days you will only need to provide a few scanned documents and details; our representatives will ensure the forms are correctly filled.
As soon as we apply for the DSC, we will ask you for the unique name you wish to give your company, as well as some scanned documents regarding it and the director. These will be used to file INC-29 and the Memorandum of Association (MOA) and Articles of Association (AOA). At this stage, you will also need to pay government fees for form filing and stamp duty. The Certificate of Incorporation will be approved at the end of this process.
Every OPC needs a registered Permanent Account Number (PAN) and Tax Account Number (TAN). We will make the application online ourselves, it will take 2 working days but you will need to courier hard copies of the required documents yourself. The PAN and TAN will be couriered to the your registered office address in 21 working days.