incorporation of one person company

Depending on rule 3(1) on the Companies (Incorporation) Rules 2014, merely a natural person that’s an Indian citizen and resident in India would be eligible to form/incorporate a one person company. Indian resident means having stayed in India for a time period of not less than 182 days over the immediately preceding one calendar year.

  • A nominee for OPC has to become a natural person that’s an Indian citizen and resident in India.
  • No individual would be eligible becoming a nominee in a couple of OPC.

At the time of incorporation of one person company, the sole  member of one person company needs to appoint another individual as his nominee wonderful name shall have to be mentioned inside Memorandum of Association on the one person company.

The nominee so appointed shall end up being the member inside following situation :

  1. In the instance of truly the only member’s death; or
  2. In the instance of truly the only member becoming incapacitated to contract.

A nominee so appointed needs to give his written consent for the similar which needs to be filed with the ROC at the time of incorporation on the OPC alongside its MOA and AOA.

A nominee has the ability to withdraw his consent if he so desires.

Following person are not member of OPC :

  • A minor shall not be eligible becoming a member or nominee on the OPC or can take share with beneficial interest.
  • Foreign citizen.
  • Non Resident.
  • Any person incapacitated to contract.
  • Persons besides natural person i.e living human being.

The sole  member shall nominate another individual as nominee within 15 days of the receipt of notice of withdrawal and shall send an intimation of such nomination in emailing the Company, as well as the written consent of such other person. The manufacturer shall within 30 days of receipt on the notice of withdrawal of consent has to submit with the Registrar, a notice of such withdrawal of consent and the intimation of the domain name of another individual nominated by truly the only member and the written consent of such another person.

Depending on rule 4 on the Companies (Incorporation) Rules 2014 :

  1. Memorandum of one person company should mention the name of the nominee via the OPC subscriber with the Registrar in Form No. INC.2
  2. The consent of his nominee should be filed in form no. INC.3.
  3. OPC to submit with the Registrar within 30 days any improvements on membership.
  4. Form no. INC.4 should be filed for your intimation for such cessation and nomination.