One Person Company
One person company (OPC) in India is one of the easiest forms of corporate entities to manage. OPC is a hybrid of Sole-Proprietorship and Corporate form of business. It has been provided with various concessions in compliance requirements under the Companies Act. It is a form of a company where the compliance requirements are lesser than a private company. OPC registration is very easy and cheap process.
OPC Registration opens up new business opportunities for sole proprietors and entrepreneurs who also wish to enjoy the advantages of limited liability, and a separate legal entity as well. OPC does away with the hassles of finding the right partner for starting a business as the registered entity. It requires only one person who will act as a member, shareholder, and director.
According to the Companies Act of 2013, a person can form a company with only one member and one director. It’s possible that the director and the member are the same person. As a result, a One Person Company means that a single person, whether a resident or an NRI, can start a business that combines the benefits of a corporation with those of a Sole Proprietorship.
Characteristics of One Person Company (OPC):
- An OPC must operate under a legally registered name, and the word “One Person Company” must be used whenever the company’s name is referenced.
- If the client is incapable of the contract or agreement, the form provided in the OPC Memorandum must specify a person (other than the customer) who will become an OPC member with prior written authorization.
- A nominee for an organization’s/memorandum firm shall not be cupule’s to happen a nominee for several companies.
You can contact us for more information, on filing your One Person Company and also for resolving your complex queries and easily meet our team of experts by calling on +91 9409810715 or mail us your query at contact@aeldraconsultancy.in.
