Depending on the OPC is a very good idea on the behalf of people because this is the best possible way of ensuring that anybody can run a company incorporated by a single person. This particular concept is no legal under the Companies’ Act 2013 which provides the individual to have an opportunity of forming the company with one single member and one director. The best benefit is that the director and member can be the same person. Following are some of the basic advantages of the OPC:
- It will have a clear-cut legal status
- The process of obtaining the funds becomes easy with the help of this concept
- There will be fewer number of compliances
- The incorporation process is very easy
- Everything is very easy to manage
- It comes with the feature of perpetual succession
It is very much advisable for people to indulge in the comprehensive process of OPC registration which has been explained as follows:
- The people always need to apply for the DSC which will be the digital signature certificate: The very first step is to obtain the digital signature certificate of the proposed director along with address proof, Aadhaar card, PAN card, email ID, phone number and photo.
- People need to apply for DIN: DIN is the director identification number and people always need to apply for this particular system through the form DAR-three. It can also be applied with the SPICe form for up to 3 directors.
- People need to apply for the name approval: The next step will be to incorporate OPC and decide the name of the company. It is very much important for people to be clear about the technicalities of the application process so that they can deal with things very easily and can submit the application very easily and in the right manner.
- People need to be clear about the documents required: It is very much important for the people to be prepared with several documents to be submitted to the register of companies. The documents of memorandum of association, articles of association, pan and Aadhaar card of the director, proof of registered office, declaration of the proposed director and declaration by the professional certifying that all the compliances have been perfectly made has to be undertaken in the whole process.
- People need to fill the forms with MCA: All these documents have to be perfectly attached and people need to fill the forms with MCA as well in the whole process. The PAN and TAN number will be generated automatically at the time of incorporation of the company and they will be no need to apply for different applications in this case.
- Certificate of incorporation will be issued: Whenever the verification of the things has been carried out by the registrar of companies they will be very much successful in terms of issuing the certificate of incorporation so that people can commence the business very easily.
Hence, the people need to be clear about one person company registration process so that they can fulfil everything under the required deadlines very easily and effectively.