Steps Required for Register One Person Company
1. Application of Digital Signature Certificate & DIN:
The first step to get registered under One Person Company is the promoter or director has to apply for Digital signature and DIN( Director Identification Number). Digital signature is an online signature used for filing and DIN refers to the Directors PIN number issued by MCA.
2. Name approval:
For company registration, it is mandatory to provide three unique names for your company to MCA who be the deciding factor for the name of your company. Names provided should be more descriptive and unique for the company.
3. Submission of MOA & AOA:
After the name is approved by MCA one is halfway done with their company registration. After that MOA( memorandum of association) and AOA (article of associate) should be prepared and submitted in forms.
4. Affidavit of Subscriber and the director:
The company registration can only be successful if the affidavit is submitted by the only member of the company who has subscribed to the memorandum.
5. Nomination by Single member:
The subscriber to the memorandum of one person company must include a nominee who will be responsible to take over the company in case of death or incapacity to work. A prior written consent is required from the person who is nominated. This nominated person will become a part of the business when the actual owner dies faces certain physical illnesses.
6.Mca E-forms filing :
After Moa & Aoa Submission We Need To Upload Agile And Inc-22 forms To get The COI (Certificate Of Incorporation).
7. Get COI with PAN, TAN certificate:
It usually takes 15 to 25 days to form a normal private limited company. The company next to have a certificate of incorporation which is proof that the company has been created. CIN is also included
Conversion of One Person Company to other Companies :
According to the company act, one person company cannot convert their company into section bi companies which means companies that it exist for charitable purpose. One person company cannot convert into any kind of other company voluntarily until 2 years and their incorporation.