One Person Company Registration
One person company is basically a private company which consists of just 1 director and 1 member. A per the new rule, under Section 62 of the Company's Act 2013. The compliance requirements of One Person Company is lesser than that of a private company.
The process of One Person Company Registration is explained as follows:
- First, you have to apply for DSC (Digital Signature Certificate). Following are the documents required for this purpose-
- Address Proof
- Aadhaar Card
- PAN card
- Photo and Email ID
- Phone Number
- Next step is to apply for DIN (Digital Identification Number). Here name and the address proof of the director is needed.
- Then, you have to give 6 name preferences for your company. The name is approved by the Ministry of Company's Affairs.
- Next, you have to prepare a file of the following documents and submit it to the ROC-
- The Memorandum of Association which lays the objectives of the firm.
- The Articles of Association which lays the bylaws of the company.
- Proof of the Registered Office.
- A declaration by a Professional, which certifies that all the compliances are made.
- Next step is filling and the approval of the forms with the MCA. All the above documents are attached to the form, MOA, and AOA. All these things are uploaded to the MCA site for approval. After uploading, one has to wait for the generation of the PAN and TAN.
- After verification of the documents, The Registrar of Companies (ROC-) will issue a Certificate of Incorporation and after this one can commence the business.
As a matter of fact, a person who is a recognized citizen of India and resides in any part of the country is eligible to start One Person Company. On the other hand, a minor, Non-resident of India, the Foreign citizen is not eligible to get registered under One Person Company Registration process.
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