One person company is new concept in India which is introduced by the companies act, 2013. This one person company is already in existence in other countries which enable its one person to incorporate and do business solely without adding any otherperson.
An one person company may be formed for any lawful purpose by one person by subscribing his name to a memorandum and complying with the requirement of the Act in respect of the registration. A company to be registered may be either:
- A company limited by shares; or
- A company limited by guarantee; or
- An unlimited company.
Important key points to be considered while registering one person company
- One person company shall always be private limited company as per the companies act, 2013.
- Only natural person can register a one person company.
- The person who is incorporating one person company should be citizen of India and resident in India too.
- The aforesaid condition of Indian citizenship and residential status shall also be applicable to nominee of one Person Company.
- The one person company can have maximum of 50 lakhs of rupees paid up capital and limit for turnover is rupees 2 crores.
Procedure to register One Person Company
- An application for reservation of name shall be made in RUNalong with the prescribed fee i.e. 1,000.
- After filing of RUNand approval of the same by the ROC, an application for incorporation of company shall be made in the Form INC-32 with the following documents and information:
- a. Preparation of E-MOA under INC-33 and E-AOA under INC-34 duly digitally signed by the subscriber;
- b. The subscriber to the memorandum of association (member of OPC) shall nominate a person, after obtaining his/ her prior written consent, who shall, in the event of the subscriber death, become the member of the one person company;
- c. Name of the nominee shall be mentioned in the INC-32 along with his/ her consent to act as nominee in INC-3.
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d. An affidavit in the Form INC-9 from the subscriber to the memorandum of association and from the persons named as the first directors, if any, in the articles that he/ she is not convicted of any offence in connection with the formation, promotion, or management of any company, or that he has not been found guilty of any fraud or misfeasance or of any breach of duty to any company under this Act during the preceding five years and that all documents filed with the registrar for registration of the company contain information that is correct and complete and true to the best of his knowledge and belief.
- e. Declaration for non-accepting of deposit.
- f. Declaration for compliances of all applicable laws.
- g. Address proof of Subscriber i.e latest Electricity bill, water bill, telephone bill, or bank statement;
- h. Latest Utility bill of registered office;
- i. Id’s of Subscriber i.e PAN and aadhar card/ election card/ passport/ driving license etc.
- j. The address for correspondence till its registered office is established
- k. Class two dsc (digital signature certificate);
- l. E-Agile Form.
Once the INC-32, INC-33, and INC-34 and Agile form are ready, user are advised to file all the forms with MCA portal.
After proper scrutiny of all the documents, ROC (CRC) shall issue the Certificate of Incorporation. However, this may be possible that the aforesaid department is of view that the documents submitted are not completed, then in such a case forms are goes into resubmission and user are advised to file the revise forms with correct information’s and documents.
Conclusion:
Hope you got the idea of how to incorporate one person company in india. In case you still need any assistance, please feel free to contact us at complianceship@gmail.com and +91-8010233173 or visit our website www.complianceship.com
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