ONE PERSON COMPANY
One Person company is a company incorporated with only one director. However, the director is not personally liable to the company.
A One Person company was incorporated in order to aid and benefit Sole Proprietorship owners to get a better legal standing and be shielded from the personal liability towards their firms.
Benefits of One Person Company:
- Director is shielded from Personal liability towards the company.
- Government can easily regulate the acts of the company.
- Trust and credibility of company is governed
- Improved credit rating from financial agencies
- The company and the director are two separate entities
- The director’s/ owner’s liability to the company is very limited
- Applying for Director Identification Number and Digital Signature Certificate
- Name Availability Search and identification
- Application for Registration of Name
- Drafting of Memorandum of Association and Articles of Association
- Filing of Forms electronically with Registrar of Companies
- Payment of Incorporation Fee to Registrar of Companies
- Verification of Documents by Registrar of Companies
- Processing and issuing of Incorporation Certificate to Company by Registrar of Companies
- Scanned Copy of PAN Card
- Scanned Copy of Voter's ID/ Passport
- Scanned Copy of the Latest Electricity bill/ Telephone bill/ Bank Statement
- Scanned passport size photograph
- Also, we will require hard copy of an ID proof (self attested) along with a passport size photograph of the Director and the nominee.
- For Registered Office address
- Scanned Copy of the Telephone bill/ Electricity bill (notarised)
- Scanned copy of Notarised Rental Agreement in English
- Scanned copy of No-objection Certificate from property owner
- Scanned copy of Sale Deed in English (in case of owned property)