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The introduction of the One-Person Company (OPC) structure under the Companies Act of 2013 has provided a significant boost for solo entrepreneurs in Meghalaya. This business format allows an individual to establish a company while benefiting from limited liability and a distinct legal identity, similar to a private limited company. It's designed to encourage the incorporation of micro to medium-sized enterprises by simplifying the company formation process.
For entrepreneurs in Meghalaya considering an OPC, it's essential to meet the following criteria:
The promoter must be an Indian citizen and have resided in India for at least 182 days in the preceding year.
Registering an OPC in Meghalaya comes with several advantages:
Documentation for OPC Registration in Meghalaya
To register an OPC in Meghalaya, the following documents are necessary:
The OPC registration in Meghalaya involves a series of steps, efficiently managed through the SPICe+ online platform:
Obtain a Digital Signature Certificate for the director to Digital Signature Certificate (DSC):
Obtain a DSC for the intended director. This digital signature is essential for submitting documents electronically to the Ministry of Corporate Affairs (MCA).
Apply for a DIN for the sole director of the OPC. This unique number is required for anyone intending to be a director within an Indian company.
Reserve a name for your OPC using the Reserve Unique Name (RUN) service or directly through the SPICe+ Part A form. Ensure the name is unique and not infringing on existing trademarks or company names.
Draft the Memorandum of Association (MoA) and Articles of Association (AoA), which are crucial documents outlining the objectives and rules of your OPC.
Select a nominee who will take over the OPC in the event of the sole member’s death or incapacity. Obtain consent from the nominee, which is a mandatory step in the OPC incorporation process.
Attach necessary documents to the SPICe+ form, including the MoA and AoA, identity and address proofs of the member and nominee, registered office proof, and the nominee’s consent in Form INC-3.
Attach necessary documents to the SPICe+ form, including the MoA and AoA, identity and address proofs of the member and nominee, registered office proof, and the nominee’s consent in Form INC-3.
Submit the completed SPICe+ form and all attachments to the MCA portal. The Registrar of Companies (RoC) in Meghalaya will review the application.
Upon approval, the RoC will issue a Certificate of Incorporation, marking the official registration of your OPC. This certificate includes the company's CIN (Corporate Identity Number). The PAN and TAN for the OPC will be automatically generated along with the certificate.
After incorporation, there are a few compliance requirements, such as the appointment of the first auditor within 30 days, opening a bank account, and any applicable registrations like GST, depending on the business activities and turnover.
IndiaFilings offers a comprehensive service for OPC registration in Meghalaya, ensuring a professional and efficient process:
Embarking on your business venture in Meghalaya as an OPC becomes straightforward with IndiaFilings. Our professional services assure that your registration process is handled with the utmost care and expertise, allowing you to focus on growing your business in Meghalaya. Reach out to IndiaFilings today to begin your journey as a One-Person Company.
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One Person Company Registration In Meghalaya FAQ's
OPC firms involved in the supply of goods and services in another state are required to obtain GST registration irrespective of their annual turnover.
An OPC firm registered in Meghalaya requires statutory auditing, a company requires to appoint CA as the auditor of the company.
The proposed directors need to obtain the DSC and DIN. The DSC is the digital signature of the director that is used in the registration process. The DIN is the unique number that is allotted to the director.
A nominee is an individual who becomes a member of the company due to incapacitation and the promoter’s death.