A One Person Company (OPC) is a type of business organisation that combines the benefits of a sole proprietorship and a company. Finding the ideal co-partner or co-partners to launch a business as a registered entity is thus made easier.
The unstructured proprietorship business is being transformed into a structured private firm by one person companies. One Person Company is paving the way for startups and sole proprietors.
The OPC (One Person Company) may be established by an individual for any legitimate purpose, in accordance with Section 3(1)(c) of the Companies Act, 2013. According to Section 2(62), a “One Person Company” is a business with just one member.
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It is recognised that One Person Company is a private company. There is only one shareholder and one director in this company. Now anyone operating as a solo owner can profit from restricted liability. The One Person Company is an illustration of crucial expansion in our nation’s economic sector.
ONE PERSON COMPANY
Recently introduced in the year 2013, an OPC is the best way to start a company if there exists only one promoter or owner. It enables a sole proprietor to carry on his work and still be part of the corporate framework. One Person Companies are advancing largely in building up the general economy of India. An ever-increasing number of Entrepreneurs are coming up and initiating their business. By incorporation of OPC, the organization can appreciate the advantages in banking points and are acceptable for Banking loans, credits. So, if you want to start up your own business, you don’t need to anguish about all the network and slow processes.
To register a One Person company (OPC) in India, Documents required for registration:
Minimum requirement for OPC registration
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