Online One Person Company Registration in India – A Brief Summary
BEST TIME TO REGISTER A ONE PERSON COMPANY ONLINE IN INDIA AT JUST ₹ 7,299 (INCLUDING CONSULTANCY & DOCUMENTATION CHARGES ) *
Formation of a one person company is fairly recommended and better way to startup a business in India. The best advantage of one person company in India is limited liability which protect to save the personal assets, if any misfortune happen to the business entity. Protection of company name is best advantage of one person company where name which is allotted from registrar of companies is protected from being misused by others. if so company can raise a complaint against the unauthorised usage of name by other individual or a company . One person company can accommodate one director and one nominee. Designation sometimes matter in some circumstances, hence one person company badges the promoter us Managing Director. This gives a prime feel compared to limited liability partnership.
Minimum one director and one nominee is required to start a one person company in India. After one person company incorporation process, you will receive Certificate of Incorporation(CoI), Memorandum of Association (MoA), Articles of Association(AoA) , Permanent Account Number (PAN), Tax Deduction and Collection Account (TAN), Employees' State Insurance (ESI) Registration, Employees' Provident Fund (EPF) and Bank Account number.
Startup Company is one of the best company registration consultants in India, we provide online company formation services for minimal pricing which is affordable for all startups across the country. If you associate with us after company registration is successful completed , we have the best audit team, accounting professional and gst consultants to do of all the filing in a minimal cost which helps you to focus on business.
BENEFITS OF ONE PERSON COMPANY REGISTRATION IN INDIA
One person company Registration offers more benefits in India considering single ownership entity like sole proprietorship
- Protection to personal assets from business risks/losses
- Increase business authenticity and corporate image among public
- Company name is secured from being misused
- Customer get attracted with a high chance to take a service
- Growth potential is high
- Lending business loan from banks or financial institutions are more comfortable
- Stable and rigid business entity
REQUIREMENTS FOR PRIVATE LIMITED COMPANY REGISTRATION IN INDIA Private Limited Company Registration in India comes under Companies Act 2013, it defines certain mandatory requirements for company registration.
ONE DIRECTOR & ONE NOMINEE
In one person company registration in India, one proposed director and one nominee is required to proceed for registration. Presently spice plus form is used for incorporating one person company in India.
UNIQUE COMPANY NAME
The business entity must have a unique company name for getting name approval from register of companies. The proposed name must not match with any existing companies or registered trademarks in India.
In present scenario , proposed company must not need any minimum capital amount to register in India. The best way is to have at least one lakh authorised capital and fifty thousand paid up capital for newly registering private limited companies.
REGISTERED OFFICE ADDRESS
In the present time , registered office address can be a small commercial space or rented house for private limited company registration which is a good sign for small startups in India to register their business. Valid rent agreement and non-objection certificate is required from the building owner.
HOW TO REGISTER A COMPANY ONLINE IN INDIA HOW TO REGISTER A COMPANY ONLINE IN INDIA
In the present scenario, online company registration is possible by submitting the documents required to registrar of companies for completing the registration process. Documents must be scanned properly without exceeding the 150kb in size. There are few steps to register a company online in India.
Here are the steps to register the company online.
Company Name can be reserved online through a form named RUN ( Reserve Unique Name). Name of the business not match with existing companies or registered trademarks in India. Company name search can be done online in ministry of corporate affairs website . Use the link to search company name is available or not
If the name is available then name approval form can be submitted with two company names in registrar of companies’ web portal. Once the company name is approved, within 20 days company registration must be completed.
- Take Digital Signature Certificate
Spice Plus form used to file incorporation documents in MCA portal require digital signature certificate for signing purpose. The proposed directors must take digital signature certificate to digitally sign and submit spice form in MCA portal. Both director and nominee must take digital signatures.
- Drafting of Spice eMOA & Spice eAOA forms
MOA & AOA is the backbone of every business entity, hence it is to be drafted carefully. Primary objectives and share capital of the company to be incorporated in MOA. Subscriber of the OPC is the director and it is mentioned in AOA of the company, which include director and nominee of the company.
- FILING OF SPICE PLUS FORMS IN MCA PORTAL
The incorporation documents are filed in MCA portal for company registration approval. Spice Plus ( INC-32 form), Spice+ MOA(INC-33 form) & Spice+AOA(INC-34) are filed to complete the documentation process for private limited company registration.
- COMPANY REGISTRATION APPROVAL
Certificate of Incorporation, ESI/EPF ,Bank account number, PAN ad TAN are received once company registration is approved by registrar of companies.
Once incorporation process is completed, director must raise the paid up capital in the company bank account of the company and need to submitted along with spice form INC 20 A for getting business commencement approval from registrar of companies.
REQUIRED DOCUMENTS FOR ONLINE COMPANY REGISTRATION
In the present scenario, online company registration is one of the best advantages for entrepreneurs to start their business hassle free. In online company registration all directors and shareholders must have valid identity and address proof to initiate the formation process. For online company registration in India require only scanned copies of all documents specified for incorporation process.
Proof for Identity and Address are:
Registered Office Address Proof
- Scanned copy of PAN Card (Director & Nominee)
- Scanned copy of Aadhaar Card (Director & Nominee)
- Scanned copy of Passport/ Driving License/Voters ID (Director & Nominee)
- Scanned specimen signature in JPEG or PDF format (Directors only)
- Passport size photo of proposed Director and Nominee. ( JPEG Image also required)
- Scanned copy of the savings bank account statement/telephone/ electricity bill or mobile bill latest with full communication address (Director & Nominee)
- Scanned copy of rent agreement in English
- Scanned copy of non-objection certificate from owner
- Scanned copy of latest utility bill (electricity bill/ telephone Bill) in the name of owner.
- Scanned copy of building tax receipt if the owner is one the directors in the company.
Registered office can be your residence if all above documents are there, commercial space is not mandatory requirement to register a private limited company.