OPC or the one-person company is the company that has been incorporated by a single person and before the enforcement of the companies act 2013 a single person was not able to establish the company. As per section 2, 62 of the companies act 2013 a company can be perfectly formed by one director and one member and this particular form of company will be based upon very minimum compliance requirements in comparison to the private companies.
Following are some of the most important advantages of indulging in the OPC company registration in the modern-day business world:
- There are very few compliances in this particular industry and there will be no need to maintain any kind of annual returns or accounts with the help of the company secretary.
- Obtaining funds becomes very much easy because of the enhanced credibility of the people in this particular case
- The incorporation process is very easy in comparison to other forms of business available in the industry
- This particular format is very easy to manage and further ensure that there will be no chance of any kind of conflict element in the whole process.
Some of the basic technicalities of the one-person company registration are explained as:
- Application of digital signature certificate: This particular type of concept is perfectly made available to the people and for the people to present the basic requirements and documents in the form of Aadhaar card, address proof, PAN card, email ID, phone number and so on
- Application of DIN: This is the director identification number and will be based upon different kinds of technicalities in the whole process. It can be easily applied through online systems without any kind of chaos.
- Name approval application: The name of the company will be selected in the form of ____ OPC Private Limited which is the main reason that people need to be clear about all these kinds of systems. The preferred name will be kept along with the significance of keeping that particular name will be given in SPICe +3 to application and if the name gets rejected then people need to apply for another name approval application.
- Documents required: People need to be very much clear about different kinds of documents required in the whole process in the form of articles of association, memorandum of association, proof of register office, declaration and consent, the declaration by the professional certifying company that all kinds of compliances have been perfectly made.
- Filling of forms with MCA: Whenever the document will be perfectly attached in the whole process people also need to be clear about filling of different kinds of forms with the MCA and the PAN number and TAN number will be generated automatically in this particular case.
- Issue of the certificate of incorporation: After the verification has been carried out the registrar of companies will be issuing the certificate of incorporation so that everybody can commence the business very well.
Hence, having a crystal-clear idea about how to register OPC is important for people so that there is no chance of any kind of confusion element in the whole process.