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OPC Registration Process

OPC Registration Process (Step-By-Step Guide)

You have an idea that can change world dynamics. You have an idea that would help India become more sustainable. You have an idea to make shopping far more interactive.

Let’s then implement the idea! 

The government of India has provisions for individuals like you who are single entrepreneurs with some brilliant ideas. You can register your company and be the only owner for a small feet. Be the boss of your company and implement the ideas. 

One Person Company or OPC was created and implemented by the government of India in the year 2013. It is a blessing for individuals like you who aim to develop a company of their own with a limited budget and resources. Read the article further to understand the OPC registration process. 

Do not skip it! 

Which Documents Are Required for OPC Registration?

The OPC registration process is a regular process of registering your company in the One Person Company Act. It requires basic documents of proof. These documents include proof of identity and address, a particular person’s details, and further information about the business. 

The documents need to be submitted on behalf of both the owner and the nominee. It must be signed and stamped. Additionally, a copy of the document should be shared with the authorities or submitted on the online portal. Please ensure that you keep a copy of the document for your own reference too. 

Below are the details of the document required for the OPC Registration Process. 

Document for identity proof by owner and nominee – 

  1. A PAN card copy needs to be submitted by both the owner and the nominee.
  1. Aadhar card or Voter ID copy – The document is proof that the owner and nominee are citizens of India.
  1. Passport Size photograph – Both nominee and owner need to share three passport-size photos for the registration process.
  1. Copy of electricity bill or water bill of the registered office business. It acts as an address proof for the business or service company. 
  1. A Memorandum of Association or MOA is one of the most important and required documents to be submitted to the Central Registration Centre.
  1. Articles of Association or AOA is another important document required to be submitted for the OPC registration process. 
  1. Consent of the designated nominee is to be recorded and submitted on the INC-3 form. Additionally, proof of identity also needs to be submitted by the nominee along with the form. 
  1. Form INC-9 must be filled and submitted by the director and nominee to submit their affidavit. 
  1. Digital Signature Certificate (DSC) and Director Identification Number (DIN) are essential documents for the OPC registration process. 
  1.  Landlord No Objection Certificate (NOC), if the business place is rented by the owner. 

How Do I Register My OPC Company Online?

Registering your company with OPC is a simple and easy process. The company needs to be incorporated in the names of only one person and one nominee. It does not follow the same structure as private limited companies. 

The process is quick and can be effortlessly done online without any hindrance. The one and only requirement is to keep your documents ready and attested. 

Step 1: 

The first and foremost step for the OPC Registration Process is checking the eligibility of the documents. Basic KYC documents of the owner are required to be submitted for verification. Also, the documents of the registered business place, along with address proof and a No Objection Certificate from the owner of the business place, need to be shown. 

Step 2:

It is important to ensure that the owner has both the DIN and DSC numbers available for the registration process. He or she will be required to sign the documents digitally. Hence, having these numbers for the process is a must.

Step 3: Unique company name selection

A unique name must be selected for an OPC company. A unique name is inclusive of the fact that no other company has such a name and there are no copyright issues for it. The following name needs to be reserved with the Registrars of Companies (RoC). 

Step 4:

Submission of MOA and AOA. These documents must be prepared before heading towards the registration process. MOA is the constitution of the company, while AOA is the rules and regulations of the company.

Step 5: 

Once all the documents are ready and the DSC, DIN, and unique name have been identified, the next step is to fill out the SPICE Plus form. The form is available on the official website of the Ministry of Corporate Affairs. All required and necessary documents need to be uploaded in digital format on the website. 

Further, the DSC number of the owner must also be included as a digital signature. It will be further certified by a practicing professional such as a CA, CS, CMA, or Advocate of the High Court. 

Step 6: 

Finally, after the submission of the documents, the RoC checks them for their authenticity and accuracy. If everything is alright, the RoC approves the application and registers the OPC in the Registers of Companies. 

Furthermore, it provides the owner with a Certificate of Incorporation, which also has a unique number allotted to the OPC. The ROC also provides the PAN and TAN numbers of the business registered. 

What are the rules for OPC company?

The rules of the OPC Company Act have been written and fixed by the Ministry of Corporate Affairs. It has to be strictly followed, or else the registration process will be neutralized. Make sure to follow the below-given rules. 

  1. One Person Company, or OPC, as the name suggests, is a company that can be registered and owned only in the name of one person. It is strictly created for single entrepreneurs. 

The government of India came up with the OPC Act in 2013 to support and empower the startup ecosystem in India. Also, the nominee can only be one person, whose name has to be mentioned in the MOA.

  1. The second most important rule that applies to the OPC registration process is that an Indian citizen can only apply for this incorporation. No individual with foreign citizenship can apply for OPC. An individual must be a resident of India. 
  1. No minor can become a member or nominee of the OPC. A minor cannot hold any shares of the company. 
  1. The name chosen for the company must be unique and not a repetition of any other company. It has to have a different name, and only if the RoC approves, the name is accepted for the company.
  1. Ensure to create the MOA and AOA properly with the proper attestations required. It needs to be as per the government-provided format. 
  1. The name of the company must end with (OPC) Private Limited as the suffix. 
  1. An OPC registered company can convert to a Private Limited Company after 2 years in the market or when the company crosses the limit of  ₹2 crores and the paid-up capital of  ₹50 lakhs.  

FAQ – OPC Registration Process

How long does OPC registration take?

The entire OPC registration process takes a maximum of 10 – 15 days. DIN and DSC are provided in a day, & certificates of incorporation take almost 3 -5 days.

What is OPC registration fees?

OPC registration fee can vary  depending upon the registered address and the authorised share capital of the company.

Can I register OPC myself?

Yes, you can register for OPC by yourself. Taking help from an agent only takes away the strain of working towards creating the required documents.

What is the turnover limit for OPC?

The turnover limit for OPC is ₹2 crore and the paid-up share capital is ₹50 lakhs. If it crosses the following limit, the company has to convert to a Private Limited Company.

What is the tax exemption for OPC?

There is no specific tax exemption provided for OPC. It is a flat 30% that is applicable. Other than that, MAT and Dividend Distribution Tax is applicable similarly to the other forms of companies.

Conclusion –

The only requirement for an OPC registration process is following the rules and providing the correct documents. One wrong document or fake document will lead to the cancellation of the process. Hence, incorporating the company will become a tough task for an individual.

Read the entire article properly to understand the requirements. Do not miss either of the OPC registration process requirements. And if you still have any doubts, do contact our Instafilling specialists. We are on a mission to make India compliant. The experts in the field will help and guide you. 

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