One Person Company

Section 2(62) of the of the Companies Act 2013, One Person Company means a company which has only one person as a member.

Restrictions

• Only One Member

Directors And Shareholders Requirement

• 1 Director and 1 Nominee
• 1 Shareholder (The Directors can be shareholders)

Capital requirement:
No minimum capital requirement as per Companies Act, 2013. A One Person Company can be started with a minimum amount of capital.

STEPS TO INCORPORATE A ONE PERSON COMPANY

• Applying For Reservation Of The Selected Name In Spice Part-A
  • In the name approval application, maximum TWO names with business objectives can be submitted.
  • The approved name gets reserved for 20 DAYS. (It can be extended for 40-60 days)
• Apply for the Digital Signatures Certificates of Subscribers and Directors (If subscribers not the first directors)
• Filing of incorporation application with the Central Registration Centre of MCA for incorporation of One Person Company. This application shall be filed in Eform SPICe Part-B along with the various attachments and linked E-forms i.e., E-MOA, E-AOA, INC-9 and Agile Pro. On receipt of the aforementioned documents and forms, the office of the MCA will scrutinise them and if they are found complete in all respects, the Registrar will register the Company and allot CIN, PAN & TAN. A Certificate of Incorporation will be issued by the Registrar of Companies
• Post Incorporation Compliances
  • The Company shall open a Bank Account for depositing the subscription money mentioned in the Moa of the Company within 180 days from the incorporation.
  • FORM INC 20A is to be filed within 180 days of commencement with the Concerned ROC.
  • To appoint First Auditor of the Company (within 30 days from the incorporation)
  • GST Registration, if required