Last Updated on September 21, 2020 by admin
Since forming an OPC requires verification of the documents submitted for approval by a registered chartered accountant/cost accountant/company secretary/advocate, it is recommended that the process is carried out while consulting with them. As forms and rules change frequently, the below-mentioned steps are just for getting a first-hand idea. The helpdesk (0124-4832500) over the phone is quite responsive.
Acquire digital signature
Acquire Digital Signature Certificate (Class 2): A Google search will give a list of DSC service providers in your area or may try this one: https://www.emudhradigital.com/
We paid: 800 INR for 2 yrs.
Open an account on MCA website
Associate digital signature
Reserve Unique Name (RUN)
Check if the name you intended for your OPC available and if available, submit. To be on safe side, one can apply for two names, so that if first is found unsuitable by MCA, second will be allocated.
Within two to three days, you will receive an email regarding the outcome:
Estimate the fees
You may either perform the following step of knowing the pricing for the stamp duty (or charges to be paid to MCA for incorporation) now after the name is allocated or preferably before. While up to Rs.10 lakh authorized capital, charges are minimal but rise significantly thereafter. For freelancers, SMEs, it makes sense to opt Rs.10 lac as authorized capital. As far as subscribed capital by the first subscriber (in this case the owner of the OPC), one can opt upto 10 lac, but keep in mind whatever it is subscribed has to be deposited into the newly opened current account in the name of OPC within 180 days (Form INC-20A). This form is required to be uploaded as a declaration that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him on the date of making of such declaration. Such a declaration is to be made before commencing any business for the company. It also requires an attachment for proof of payment for the value of shares by the member. A copy of bank statement can be attached for credit entry for receipt of subscription money from the member or if the bank statement not available, valid payment proof like NEFT/RTGS receipt.
Now, you need to download the following forms.
After downloading the form, you need to fill them diligently. Here are the few tips:
(i) Make sure to keep the files to be attached optimized as 6 MB is the maximum size for all the files when uploaded. Although it appears that there is a grace limit such that slightly more than 6 MB too is accepted. You can make use of free online tools to optimize/reduce PDF file size.
(ii) Also, follow this tip on MCA portal before filling the forms
Please click here for useful instructions to optimize the PDF file size while affixing the Digital Signature Certificate(DSC).
(iii) As in our case, we attached NOC with the SPICe, but uploaded MOA, AOA, AGILE as linked forms.
You can refer the files submitted by us in this regard:
Attachments with SPICe:
Declaration by first subscriber(s) and director(s) (attachment no. 3) :
Consent of Nominee (INC-3) (attachment no.13):
Memorandum of Association (1) and Articles of Association (2) were not allowed to be attached with SPICe but instead uploaded as linked forms.
Need help regarding forming your OPC? Get in touch with us. We have partnerships with registered chartered accountants to help accomplish the objective.