Common Eligibility To Register a One Person Company

One Person Company (OPC) is a type of business entity that is owned and controlled by a single individual. It is a hybrid between a sole proprietorship and a private limited company, offering the benefits of both forms of business. In this article, we will discuss the common eligibility criteria for OPC registration.

Eligibility Criteria:

  1. The person who wishes to register an OPC must be an Indian citizen and resident.
  2. The person must not be a minor, that is, he/she must be of 18 years of age or above.
  3. The person must not be a disqualified person as per the Companies Act, 2013.
  4. The person must not be a promoter or a member of more than one OPC.
  5. The person must not be a director in more than 15 companies.
  6. The person must have a valid digital signature certificate.
  7. The person must have a PAN card and an Aadhaar card.

Nominee:

A nominee is a person who is appointed by the sole member of an OPC to manage the company in case of the member’s incapacitation or death. The nominee must also fulfill the following criteria:

  1. The nominee must be an Indian citizen and resident.
  2. The nominee must not be a minor.
  3. The nominee must not be a disqualified person as per the Companies Act, 2013.
  4. The nominee must give his/her consent to act as a nominee.
  5. The nominee must have a PAN card and an Aadhaar card.

Documents Required:

  1. PAN card and Aadhaar card of the person and the nominee.
  2. Digital signature certificate of the person and the nominee.
  3. Address proof of the person and the nominee such as electricity bill, gas bill, telephone bill, etc.
  4. Passport size photographs of the person and the nominee.
  5. Memorandum of Association (MOA) and Articles of Association (AOA) of the OPC.
  6. Declaration by the person that he/she is the sole member and director of the OPC and that he/she has not formed more than one OPC and that he/she is not a director in more than 15 companies.
  7. Consent and declaration by the nominee that he/she is aware of his/her role as a nominee and that he/she is not a promoter or a member of another OPC.

Registration Process:

  1. The person and the nominee must obtain a Director Identification Number (DIN) and a Digital Signature Certificate (DSC).
  2. The person must apply for the name of the OPC with the Registrar of Companies (RoC).
  3. After the name is approved, the person must file the MOA and AOA along with the other required documents with the RoC.
  4. The RoC will then verify the documents and approve the registration of the OPC.
  5. The person must then obtain a PAN card and a TAN for the OPC.
  6. The OPC must also obtain a certificate of incorporation from the RoC.

In conclusion, OPC is a type of business entity that is owned and controlled by a single individual. It offers the benefits of both sole proprietorship and private limited company and it is important to adhere to the eligibility criteria and required documents in order to register a One Person Company.

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