One Persion Company (OPC)
A One Person Company is a company with a single member.It was introduced by the Companies Act, 2013. OPC extends the concept of limited liability to a company run by a single person. It is similar in respects to a private limited company with certain differences like fewer compliances and relaxation of certain restrictions. Thus, an OPC is subject to all the provisions of the Act like a private limited company unless expressly excluded
Advantages and Benefits
1. Limited Liability Protection to Directors personal resources
In a one person private limited company, just interest in business is lost, personal resources of the chiefs are protected.
2. Better picture and validity in Market
In India, OPC is a Private limited company, which is a prevalent and understood business structure.
3. Simple to raise assets and advances
OPC is one of the least demanding types of companies. Not many ROC documents are recorded with the Registrar of Companies (ROC). No compelling reason to direct Annual General Meeting (AGM) and other normal compliances.
4. Aides for Testing of Business Model and Enables Funding
The OPC business causes Startup Entrepreneurs to effortlessly test their plan of action, and after structure an attractive item, they can approach Angel financial specialists, Venture industrialists for subsidizing and effectively convert their OPC into multi investor Private Limited company.
5. Unlimited authority of the Company with a Single Owner
This prompts quick basic leadership and execution. However OPC can select upwards of 15 executives for managerial capacities, without giving any offer to them.
6. Simple to Sell OPC
OPC Company is anything but difficult to sell, less documentation and cost is engaged with selling a One Person company.
→ Least 1 Shareholder
→ Least 1 Nominee
→ Least Authorized Share Capital to be Rs. 1 Lac
→ Least 1 Directors
→ Just Indian occupants can be Shareholder and Nominee
→ Commotion (Director Identification Number) for all Directors
→ The executives and investors can be same person
→ Least 1 Director must be Indian Resident
→ DSC (Digital Signature Certificate) for 1 Promoters and 1 witness
What All You Get...
→ DIN for 1 Director
→ MOA + AOA
→ Customized Incorporation Master File
→ Bank Account Opening Document Support
→ Digital Signature Token for 2 Promoters and 1 witness
→ Incorporation Certificate
→ Company PAN Card
→ Domain Name + Web Hosting
→ Company Name Approval
→ New Incorporation Kit
→ Company TAN/TDS Number
→ + 10 Email Ids for 1 year