Saturday, 12 August 2017

How to Establish One Person Company?

                                         

Apply at photonjournal@yahoo.com to Establish One Person Company. It costs INR 50, 000

Steps to Incorporate One Person Company (OPC)
1.   Obtain Digital Signature Certificate [DSC] for the proposed Director(s).
2.   Obtain Director Identification Number [DIN] for the proposed director(s).
3.   Select suitable Company Name, and make an application to the Ministry of Corporate Office for availability of name. 
4.   Draft Memorandum of Association and Articles of Association [MOA & AOA]. 
5.   Sign and file various documents including MOA & AOA with the Registrar of Companies electronically. 
6.   Payment of Requisite fee to Ministry of Corporate Affairs and also Stamp Duty. 
7.   Scrutiny of documents at Registrar of Companies [ROC]
8.   Receipt of Certificate of Registration/Incorporation from ROC.

Eligibility-

Only a natural person who is an Indian citizen and 'resident in India (a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one financial year)' shall be eligible to act as a member and nominee of an OPC. 


The OPC model is an evolving concept in India although it has been working successfully in developed nations since a long time. The provision of OPC in the Companies Act is expected to cater to the much-awaited needs of solo entrepreneurs who generally faces the problem of unlimited liability in the event of incurring losses.



For any query please contact at photonjournal@yahoo.com 




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