One Person Company may be a new style of business entity that permits one businessman to control a company entity with financial obligation protection.
Ideal for entrepreneur who have alone started a venture
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One Person Company (OPC) is that the most up-to-date sort of business in India planned by the businesses Act, 2013 and perceive for a One Person Company.
A forward-thinking plan was launched that promotes the incorporation of micro-businesses and persons with entrepreneurial ideas and to presents a lift to entrepreneurs WHO have high potential to start their venture by allowing them to create a one-person company.
You can simply register one person company below the outlines of the businesses Act 2013 and also the laws to it, wherever it absolutely was created viable for one person company to figure as a corporation while not the quality of getting partners. This encourages additional individuals to return forward to start a business. The OPC is suited little businesses wherever the turnover isn’t possible to cross Rs. 2 Crores. IN OPC Registration it’s necessary to notice that the campaigner or the director ought to be Indian Resident.
One Person corporation square measure benefiting mostly in developing the economy of India. additional and additional Entrepreneurs square measure developing and commencing their business. By incorporation of OPC, the corporate will relish the advantages in banking purpose and square measure eligible for Banking loans, credits. So, if you wish to start out up your own business, you don’t have to be compelled to worry regarding all the network and slow processes.
Choose OPC because
The following is that the eligibility tips for OPC Registration in India.
- Can have over one administrator, however, the stockholder can’t be over one.
- Not tormented by the death of a member or shift in possession.
- Effortless to line up and maintain relatively.
- Restricts the liabilities of its members
- Minimum work is required.
- Can work as a broker or Sub-broker
- Not multiple compliances
- No interference from any third party is seen
- Even not everybody is permissible to include over one one-man company.