Pre-Incorporation Requirements:-

• Choose a suitable business structure: Select from Sole Proprietorship , Partner Ship ,Pvt Ltd, LLP, or OPC based on your capital needs, liability preferences, and team size.

• Reserve a unique company name: Use the MCA’s RUN (Reserve Unique Name) service to ensure your proposed name doesn’t conflict with existing companies or trademarks.

• Define your business activity in the MoA: Draft the Memorandum of Association (MoA) with clear objectives that reflect your operations and comply with prescribed industrial classifications.

• Finalize initial capital and ownership: Decide on the authorized share capital and the shareholding pattern among promoters or partners.

• Appoint at least one resident Indian director: As per Section 149(3) of the Companies Act, one director must have resided in India for a minimum of 182 days in the previous calendar year.

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One-Person Company (OPC) Registration

One Person Company in Company Law

Section 2(62) of Companies Act, 2013 defines a one-person company as one that has only one person as its member. Furthermore, members of a company are nothing but shareholders to its memorandum of association. So, an OPC is effectively a company that has only one shareholder as its member.

A One Person Company (OPC) is a perfect business type for solo entrepreneurs in India who want the advantages of a registered company coupled with the ease of a single-owner business. A sole person can start and run a business with the benefit of limited liability protection, which protects personal assets from the liabilities of the business.

This format is best for small companies and new ventures, offering the advantage of a sole proprietorship with the protection from liability of a private limited company.

Eligibility Criteria to register One Person Company

Before you go ahead and engage in single person company registration process, it's crucial to understand the specific eligibility criteria and limitations that govern its formation. The Companies Act sets out clear requirements that must be met to ensure that the individual promoting the 1 person company is eligible to do so.

• Natural Person, Indian Citizen & NRI: As per Companies (Incorporation) 2nd Amendment Rules 2021, only a natural person who is an Indian citizen whether resident in India or otherwise shall be eligible to incorporate a One Person Company. Note: Resident in India” means a person who has stayed in India for a period of not less than one hundred and twenty days during the immediately preceding financial year.

• Minimum Authorized Capital: The OPC must have a minimum authorized capital of Rs 1 00,000, the amount stated in the company's capital clause during the OPC Company registration.

• Nominee Appointment: The promoter must appoint a nominee during the OPC's incorporation. This nominee would become a member of the OPC in the event of the promoter's death or incapacity.

• Restrictions on Certain Businesses: Businesses involved in financial activities such as banking, insurance, or investments are not eligible for OPC company registration.

• Conversion to Private Limited Company: If the OPC's paid-up share capital exceeds 50 lakhs or its average annual turnover surpasses 2 Crores, it must be converted into a private limited company to comply with the regulatory requirements for larger companies.

• It's worth noting that an individual can establish only one OPC, and an OPC cannot have a minor as its member. In the following section, you'll find advantages and disadvantages one will get as a result of OPC registration online.

Registering a One Person Company (OPC) in India is straightforward but involves several legal steps. First, you must choose a unique business name and get it approved through the Ministry of Corporate Affairs (MCA) Next, you need to prepare and file the required company documents namely, the Memorandum of Association (MoA) and Articles of Association (AoA) which define the company’s objectives and operational structure as per the Companies Act, 2013.

⚠️ Disadvantages of 1 Person Company

While OPCs offer advantages, there are also limitations for single person company registration:

• Suitable for Small Businesses: OPCs are primarily suitable for small-scale businesses as they can only have one member. This limits their ability to raise additional capital as the business expands.

• Restriction on Business Activities: OPCs are restricted from engaging in certain activities, such as non-banking financial investments and charitable objectives. Hence, the companies with these business activities are not eligible for OPC company registration.

• Ownership and Management: There's a lack of clear distinction between ownership and management in OPCs, as the sole member can also be the director. This can potentially lead to ethical concerns or conflicts of interest.

📊Advantages of One Person Company (OPC)

Advantages of 1 person company include the following:

• Legal Status: An OPC obtains a separate legal entity status, safeguarding the individual who founded it from personal liability for company losses.

• Simple Incorporation: OPCs can be established with just one member and one nominee, with the member also serving as the director. No minimum paid-up capital requirement simplifies the incorporation process.

• Efficient Management: With a single person managing the OPC, decision-making is swift, leading to efficient company management without conflicts or delays.

• Perpetual Succession: OPCs maintain perpetual succession, ensuring the company's continuity even with only one member.

Below is the list of documents to be submitted for OPC registration in India:-

• Director's PAN Card: Copy of the sole shareholder and nominee director's PAN card

• Identity Proof: Aadhar card, Driving License, voter ID, or passport of the sole shareholder and nominee director

• Address Proof: Recent utility bills, including water or electricity bill, Mobile Bill or bank statements of the sole shareholder and nominee director

• Registered Office Address Proof: Rent agreement and a no-objection certificate (NOC) of the property owner, or utility bills in case of ownership of the property

• Passport-Size Photographs: Up-to-date passport-sized photographs of the sole shareholder and nominee director

• Memorandum of Association (MOA): A document that states the purposes and business activities of the company

• Articles of Association (AOA): A document stating the regulations and rules for running the company's internal affairs.

OPC Registration Documents Required

Private Limited Company

A Private Limited Company (Pvt Ltd) in India is a popular business structure governed by the Companies Act, 2013 and regulated by the Ministry of Corporate Affairs (MCA). It’s ideal for small to medium-sized businesses that want to raise capital, limit liability, and maintain a separate legal identity.

📝 Basic Requirements to Register a Pvt Ltd Company:-

✅ Key Features of a Private Limited Company in India:

1. Separate Legal Entity

• The company is distinct from its owners (shareholders).

• It can own assets, enter into contracts, and sue or be sued in its own name.

2. Limited Liability

• The liability of shareholders is limited to the amount unpaid on their shares.

• Personal assets are protected from company debts.

3. Minimum & Maximum Members

• Minimum: 2 shareholders and 2 directors.

• Maximum: 200 shareholders (excluding current/former employees).

4. Perpetual Succession

• The company continues to exist even if a shareholder or director leaves or dies.

5. Restrictions on Share Transfer

• Shares are not freely transferable to the public, ensuring control remains within a closed group.

6. No Minimum Capital Requirement

• As per the Companies (Amendment) Act, 2015, there is no minimum paid-up capital required.

( Requirement ) ( Details )

Directors Minimum 2 (at least one Indian resident)

Shareholders Minimum 2, Maximum 200

Registered Office Must have a physical address in India

DSC & DIN Digital Signature Certificate & Director Identification Number required for directors

🧾 Documents Required:

From Directors & Shareholders:

• PAN card (mandatory for Indian nationals)

• Aadhar card / Passport / Voter ID

• Passport (for foreign nationals)

• Passport-size photo

• Address proof (bank statement, electricity bill, etc.)

For Registered Office:

• Rent agreement/ownership proof

• Utility bill (not older than 2 months) & ID as per Bill Name

• NOC from the owner

⚠️ Disadvantages:

• More compliance than sole proprietorship or partnership

• Can’t raise money from the public (like a public company)

• More expensive to maintain than simpler business structures

📊 Advantages:

• Limited liability

• Easy fundraising from investors

• Credible and structured image

• Continuity despite ownership change

• Ownership can be separated from management

Limited Liability Partnership

A Limited Liability Partnership (LLP) is a popular form of business organization in India that combines the benefits of a partnership with the limited liability feature of a company.

It is governed by the Limited Liability Partnership Act, 2008, and is especially suitable for small and medium-sized businesses, professionals, and service providers.

A Limited Liability Partnership (LLP) is a unique type of business setup that blends a partnership's and a company's features. In an LLP, partners enjoy limited liability, similar to shareholders in a company, while also benefiting from the flexibility and simplicity of a partnership. This arrangement grants the LLP formation its legal identity, allowing it to take legal actions and be subject to legal actions separately from its partners.

Characteristics of Limited Liability Partnership (LLP)

Here are the characteristics of company structure, and one must adhere to this for LLP registration in India:

• Legal Identity: Like big companies, an LLP has a separate legal identity. This means it's seen as its own "person" regarding rights and responsibilities, separate from those who own it.

• At Least Two Partners: An LLP formation needs at least two people to start it. This teamwork helps in setting up the business and working together.

• No Partner Limit: Unlike some other businesses, there's no highest number of partners an LLP can have. This makes it easy to grow and bring in more partners.

• Two Designated Partners: A Limited Liability Partnership must have at least two "main" partners. These people must be real individuals, and at least one should live in India.

• Limited Responsibility: One big plus of an LLP is that if something goes wrong, each partner is only responsible for what they put in. So, personal things are safe from business problems.

• Cost-Effective Start: To register LLP, costs less than setting up a big company. This makes it a great option for smaller businesses.

• Less Rules to Follow: LLPs don't have to follow as many rules and regulations as big companies. This means less paperwork and less to worry about.

• No Minimum Money Needed: Unlike big companies, you don't need a certain amount to start an LLP. Partners can invest what they can afford.

Documents Required:-

Partners are required to have the following LLP registration documents:

• PAN Card/ID Proof of Partners: Address Proof of Partners: Partners can submit the following documents: Voter's ID, Passport, Driver's License, or Aadhar Card.

• Residence Proof of Partners: Partners need to provide recent documents such as a telephone bill, mobile bill, electricity bill, or gas bill from the last

• Passport-size Photograph: Partners should provide a passport-size photograph with a white background.

• For Foreign Nationals and NRIs: Foreign nationals and NRIs intending to partner in an Indian LLP should submit their passport. Additionally, proof of address, such as a driving license, bank statement, residence card, or any government-issued identity proof containing the address, is required.

• Proof of Registered Office Address: This includes the landlord's rent agreement and a no-objection certificate if the office space is rented. A recent utility bill (gas, electricity, or telephone) with the complete address and owner's name (dated two months or older) should also be submitted.

• Digital Signature Certificate (DSC): At least one designated partner must have a DSC for digitally signing documents.

Prerequisites and Eligibility Conditions for LLP Registration Process

• Minimum of Two Partners: Establishing a Limited Liability Partnership in India necessitates a minimum of two partners, with no upper threshold on the maximum number of partners.

• Designated Partners: Within the partnership framework, at least two selected partners are obligatory, and they must be natural individuals. At least one of these designated partners must also maintain residency in India for an LLP incorporation.

• Nomination for Body Corporate Partner If a body corporate assumes the role of a partner, the designation of a natural person must act as its representative.

• Agreed Contribution: Each partner is required to contribute the shared capital of the LLP, as stipulated and agreed upon.

• Minimum Authorized Capital: To register LLP, it is mandated to possess an authorized capital of at least Rs.1 lakh.

• Indian Resident Designated Partner: At least one designated partner of the LLP must hold a resident status in India.

By satisfying these prerequisites, you can progress with the LLP registration process in India and avail the advantages bestowed by this business structure.

🔹Disadvantages of LLP

• ❌ Cannot raise equity funding like companies (no shares)

• ❌ Less attractive to VCs and investors

• ❌ Limited to small/medium businesses

• ❌ Some states have LLP stamp duty on incorporation

🔹 Advantages of LLP

• ✅ Limited liability protection

• ✅ No minimum capital requirement

• ✅ Flexible management structure

• ✅ Lower compliance costs than private limited companies

• ✅ Tax efficient: No DDT, and profit sharing is not taxed in partners’ hands

Sole Proprietorship

A sole proprietorship is a business owned and run by a single individual, with no legal distinction between the owner and the business. It is not a separate legal entity, and the owner bears unlimited liability.

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The owner and the business are considered the same legal entity, which means all profits, losses, and liabilities belong solely to the proprietor. While it doesn't require a formal registration under the Companies Act, businesses may need licenses like GST registration or a shop act license depending on their nature.

NIC Codes by MCA

The Ministry of Corporate Affairs (MCA) has selected a specific number of NIC Codes (National Industrial Classification Code) and published a list of Industrial Activity Codes and Business/Profession Codes. These codes consist of two digits and signify the primary segments within the NIC Classification.

List of NIC Codes by MCA

Industrial Activity Code:-

Activity Code 01

Agriculture and Allied Activities

Agriculture, Hunting and related Service activities

Activity Code 02

Forestry, logging and related Service activities

Activity Code 05

Fishing, Operation of fish hatcheries and fish farms; Service activities incidental to fishing

Activity Code 10

Mining & Quarrying

Mining of coal and lignite, extraction of peat

Activity Code 11

Extraction of crude petroleum and natural gas, service activities incidental to oil and gas extraction, excluding surveying

Activity Code 12

Mining of uranium and thorium ores

Activity Code 13

Mining of metal ores

Activity Code 14

Other Mining and Quarrying

Activity Code 15

Manufacturing (Food stuffs)

Manufacture of food products and beverages

Activity Code 16

Manufacture of tobacco products

Activity Code 17

Manufacturing (Textiles)

Manufacture of textiles

Activity Code 18

Manufacture of wearing apparel, dressing and dyeing of fur

Activity Code 19

Manufacturing (Leather & products thereof)

Tanning and dressing of leather, manufacture of luggage handbags, saddlery & harness and footwear

Activity Code 20

Manufacturing (Wood Products)

Manufacture of wood and wood products and cork, except furniture; manufacture of articles of straw and plating materials

Activity Code 21

Manufacturing (Paper& Paper

Manufacture of paper and paper products

Activity Code 22

Publishing, printing and reproduction of recorded media

Publishing, printing and reproduction of recorded media

Activity Code 23

Manufacturing (Metals & Chemicals, and products thereof)

Manufacture of coke, refined petroleum products and nuclear fuel

Activity Code 24

Manufacture of chemicals and chemical products

Activity Code 25

Manufacture of rubber and plastic products

Activity Code 26

Manufacture of other non-metallic mineral products

Activity Code 27

Manufacture of basic metals

Activity Code 28

Manufacture of fabricated metal products, except machinery and equipments

Activity Code 29

Manufacturing (Machinery & Equipments)

Manufacture of machinery and equipment n.e.c

Activity Code 30

Manufacture of office, accounting and computing machinery

Activity Code 31

Manufacture of electrical machinery and apparatus n.e.c

Activity Code 32

Manufacture of radio, television and communication equipment and apparatus

Activity Code 33

Manufacture of medical, precision and optical instruments, watches and clocks

Activity Code 34

Manufacture of motor vehicles, trailers and semi-trailers

Activity Code 35

Manufacture of other transport equipment

Activity Code 36

Manufacturing (Others)

Manufacture of furniture; manufacturing n.e.c

Activity Code 37

Recycling

Activity Code 40

Electricity, Gas & Water companies

Electricity, gas, steam and hot water supply

Activity Code 41

Collection, purification and distribution of water

Activity Code 45

Construction

Construction

Activity Code 50

Trading

Sale, maintenance and repair of motor vehicles and motorcycles; retail sale of automotive fuel

Activity Code 51

Wholesale trade and commission trade, except of motor vehicles and motorcycles

Activity Code 52

Retail trade, except of motor vehicles and motorcycles, repair of personal and household goods

Activity Code 55

Hotels and Restaurants

Activity Code 60

Transport, storage and Communications

Land transport; transport via pipelines

Activity Code 61

Water Transport

Activity Code 62

Air Transport

Activity Code 63

Supporting and auxiliary transport activities, activities of travel agencies

Activity Code 64

Post and telecommunications

Activity Code 65

Finance, Insurance

Financial intermediation, except insurance and pension funding

Activity Code 66

Insurance and pension funding, except compulsory social security

Activity Code 67

Activities auxiliary to financial intermediation

Activity Code 70

Real Estate and Renting

Real estate activities

Activity Code 71

Renting of machinery and equipment without operator and of personal and household goods

Activity Code 72

Business Services

Computer and related activities

Activity Code 73

Research and Development

Research and Development

Activity Code 74

Other Business Activities

Other Business Activities

Activity Code 75

Community, personal & Social Services

Public Administration and Defence, compulsory social security

Activity Code 80

Education

Activity Code 85

Health and Social Work

Activity Code 90

Sewage and refuse disposal, sanitation and similar activities

Activity Code 91

Activities of membership organisations n.e.c.

Activity Code 92

Recreational, cultural and sporting activities

Activity Code 93

Other Service activities

Activity Code 95

Activities of private households as employers of domestic staff

Activity Code 96

Undifferentiated goods-producing activities of private households for own use

Activity Code 97

Undifferentiated service-producing activities of private households for own use

Activity Code 99

Extra-territorial organisations and bodies

Business/Profession Codes by MCA Code

Business/ Profession

Business Code 01

Medical Profession and Business

Business Code 02

Engineering

Business Code 03

Architecture

Business Code 04

Chartered Accountant/Accountancy Technical Consultancy

Business Code 05

Interior Decoration

Business Code 06

Technical Consultancy

Business Code 07

Company Secretary

Business Code 08

Legal Practitioner and Solicitors

Business Code 09

Government Contractors

Business Code 10

Insurance Agency

Business Code 11

Films, TV and such other entertainment

Business Code 12

Information Technology

Business Code 13

Builders and Developers

Business Code 14

Members of Stock Exchange, Share Brokers and Sub-Brokers

Business Code 15

Performing Arts and Yatra

Business Code 16

Operation of Ships, Hovercraft, Aircrafts or Helicopters

Business Code 17

Plying Taxis, Lorries, Trucks, Buses or other Commercial Vehicles

Business Code 18

Ownership of Horses or Jockeys

Business Code 19

Cinema Halls and Other Theatres

Business Code 20

Others

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