Planning to register as an OPC? This blog is a must read. Know more about all the documents, such as proof of identity and address for the director required for registering an OPC today.
The Companies Act, of 2013 totally revolutionised corporate laws in India by introducing a few new concepts that did not exist previously. One of the game changers is introducing the OPC one-person company concept. Now let’s see the documents required for Registration of OPC:
Definition of One Person Company
A one-person company is defined by Section 2(62) of the Companies Act, 2013 as a company with only one member. Besides that, members of a corporation are nothing more than shareholders or subscribers to the company’s memorandum of association. As a result, an OPC is effectively a company with only one shareholder. OPC registration is a simple process, but you’ll need all of the documents listed below to finish it. The following are the documents required for Registration of OPC:
The Director’s and Nominee’s Identity Proof
It can be following:
- Voter card
- Driving license
- Pan card
- Aadhar card.
Memorandum of Association (MOA) and Article of Association (AOA)
The documents as mentioned above are essential and must be submitted as part of the registration process. They’re outlined below about the Registration of OPC.
MOA
A company is formed when a group of people come together to accomplish a specific goal. In most cases, the goal is marketable. An application must be filed in order to incorporate a business. The application must be submitted to the Central Registration Centre along with a number of documents. The Memorandum of Association is one of the most important and required documents.
Content of MOA
- Name Clause
- Situation Clause
- Capital Clause
- Object Clause
- Liability Clause
- Subscription Clause.
AOA
The Articles of Association (AoA) is a legal document that outlines the purpose of a business and the policies that govern its operations. This document outlines how tasks should be carried out within an organisation.
Content of AOA
Even though the exact terms and items differ depending on the jurisdiction, the articles of association are relatively similar. It contains the following information:
- Provisions on the company name
- Share capital
- The organisation of the company
- Purpose of the company
- Provisions on shareholder meetings.
Consent of the Designated Nominee
To form a One Person Company, you’ll need one director and one nominee. In the event of a misfortune, the nominee has the authority to take over the directorship so that the company’s operations are not disrupted. The designated nominee’s consent is recorded on the INC-3 form. For the proceedings, the nominee must also provide proof of their identity.
Affidavit of Nominee and Director
The chosen director and nominee must fill out Form DIR3 and INC-9 to submit their affidavits.
Residential Proof of the Office
At the time of registration, the place of business activities must provide proof of residence. It can be any utility bill, such as an electricity, gas, or telephone bill, that is no more than two months old and is attached to the ownership proof as well as a No Objection Certificate.
If your workplace is located on a rented property, you must submit the rent agreement along with all other pertinent documents.
PAN Card
During the One Person Company Registration, a copy of the director’s and nominee’s PAN card must be submitted.
Passport Size Photo
The form must be accompanied by a passport-size photo of the designated director and nominee.
DSC And DIN
DSC and DIN are indeed required documents for OPC registration. In this case, DSC is used to sign documents online, while DIN provides the director with a unique identification number.
Step-by-Step Process for Applying a DSC
The following is the procedure for registering a Director’s DSC:
- On the MCA portal, click the on Register DSC
- On the next screen, click the director link on the left side of the panel and enter your Director Identification Number
- Ensure that the DIN has been approved and is properly typed
- The system will check to see if the DIN is valid and approved. The system will display an error message if the DIN is filed incorrectly or if the DIN is not approved
- Fill in the remaining information and double-check that it corresponds to DIR-3. If the applicant has filed a DIR-6, then fill in the information requested on the DIR-6 form
- Select the Next option. The system would verify the information provided
- If your information is correct, the system will direct you to the DSC selection screen
- To browse and select a certificate, tap the select certificate button. Please double-check that the DSC you’ve chosen belongs to the applicant whose information is being recorded
- The system will verify the DSC. If the selected DSC is already associated with a DIN, the system will display an informative message. If another DSC is associated with the provided DIN, the system will prompt the user to update their DSC
- Fill in the verification text generated by the display system in the box provided below
- To agree to the declaration that the information you have provided is correct, click the I agree button
- To list your DSC, click the Submit button
- A message of acknowledgement will be displayed
- The acknowledgement can be printed out for future reference
- To clear the data, the applicant can now use the Reset function.
Application for DIN
All current Directors must obtain DIN within the timeframe specified.
Application via SPICe+ Form
Part B of the SPICe+ form has a DIN allotment option. Continue to file the details in SPICe+ Part B, including all attachments and Form INC-3.
DIR-3 Form
Anyone interested in becoming a director of an existing company must complete Form DIR-3 and follow the steps below:
Supporting Documents
Include a photo and a scanned copy of all supporting documents
- Proof of identity
- Proof of residence as per guidelines.
Digital Signature
The applicant must sign the DIR-3 form, which must be digitally verified by a company secretary in full-time employment with the company or a Managing director, director, CEO, or CFO of any existing company. The applicant is expected to be appointed as a director.
Fee Payment
Upload and pay the fee for the DIR-3 E-Form. Only electronic payments are accepted.
- To obtain a Login ID, the user must first register on the MCA21 Portal
- Only after the DIN application fee has been paid can the E-Form DIR-3 be processed.
Verification of E-Form
If E-Form DIR-3 details are found to be duplicated, they are routed to the DIN cell for back-office processing. Provisional DIN becomes approved DIN after the form is approved, and it can be used again.
Common Causes of Rejection
Only after inspection of the documents attached to the application is a provisional DIN approved.
Conclusion
A company is formed when a group of people comes together to accomplish a specific goal. The Companies Act of 2013 established the One Person Company, which states that any individual can register a company in his or her own name as a sole owner or director. It’s a simple process, but the documents needed for the Registration of OPC are described in detail above.
Vakilseach will be at your disposal if you require expert advice on any aspect of Company Registration and complete compliance. We’ll work with you to ensure full compliance with all requirements based on your predictable activities, ensuring that your expectations are met productively and timely.
Frequently Asked Questions
What are the OPC Registration Documents required for registering an OPC in India?
Promoters' KYC documents Evidence of Registered Office Address No Objection Certificate from Office Property Owner Memorandum and Articles of Association Declarations (INC 9 and INC 14) by directors and practitioners Consent of Nominee and Directors in INC 3 and DIR 2 forms.
Where can I find the format for the OPC Registration Documents like MOA and AOA?
You can find the format for the OPC (One Person Company) registration documents like Memorandum of Association (MOA) and Articles of Association (AOA) on the official website of the Ministry of Corporate Affairs (MCA) of your country. Additionally, legal or business consultancy firms often provide templates and guidance for drafting these documents.
Do I need to submit physical copies of the OPC Registration Documents?
The entire process is conducted online, eliminating the need for physical presence at our office or any other location for incorporation. Simply send scanned copies of the required documents via email.
Are there any specific requirements for notarisation of OPC Registration Documents?
Yes, specific requirements for notarisation of OPC registration documents may vary depending on the jurisdiction. Generally, documents such as the memorandum and articles of association, identity proofs, and address proofs of directors and shareholders may need to be notarised to authenticate their validity.
Can OPC Registration Documents be amended after the registration process is complete?
Yes, Certainly! The documents for OPC Company Registration, such as the MOA and AOA, can be altered as per procedures outlined in the Companies Act, 2013. However, any alterations require approval from the Registrar of Companies (ROC) and submission to the relevant authorities.
Which DSC is required for OPC?
The Digital Signature Certificate (DSC) stands as a crucial OPC registration document, essential for authenticating both the application and accompanying documentation. Prior to commencing the registration process, all OPC promoters must possess their Class 3 DSCs.
Is DIN required for OPC?
While a One Person Company (OPC) is restricted to having just one shareholder, there is no limit on the number of directors it can appoint. However, any director appointed must possess a mandatory Director Identification Number (DIN).
Can I register an OPC myself?
Incorporating an OPC is straightforward, requiring only one member and nominee, who can also serve as the director. While the minimum authorised capital is ₹1 lakh, there's no obligatory minimum paid-up capital.
What are the requirements for OPC in India?
An OPC requires at least one director and one nominee, who can be the same individual. With no minimum capital requirement, it facilitates starting a business with limited resources. Additionally, OPCs have fewer compliance obligations compared to other types of companies.
Also Read: Documents Required for GST Registration
