Explore Amazon Services.
WHAT IS A ONE PERSON COMPANY?
One person company (OPC) is a new form of business introduced by Companies Act, 2013. It is hybrid form of business where a sole proprietorship concern can get a corporate outlook.
An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder. Thus, it does away with the hassles of finding the right kind of co-partner/s for starting a business as registered entity. The best part is, legal and financial liability is limited to the Company and not the member.
FEATURES OF ONE PERSON COMPANY
Only a natural person who is an Indian citizen and resident in India shall be eligible to incorporate a One Person Company.
Must have a minimum one director, the Sole Shareholder can also be the Sole director. The company must be have 15 director maximum.
A one-person company can be started with 1 lac. If the company capital increases to 50 lac or more OPC will become automatically.
Like a private company One person company can rasie a fund through venture capital, finiacil insitute, angel investors, etc. A OPC can raise funds thus graduating itself to a private limited company.
This leads to be fast decision making and execution. yet he/she can appoint as many as 15 directors in the OPC for administrative functions, without giving any shares to them.
OPC is suitable only for small business. OPC can have the maximum capital of 50lac and turnover of 2cr. Otherwises OPC need to be turn into private limited company.
ADVANTAGES OF ONE PERSON COMPANY
A single shareholder who can also be the sole director can start an OPC.
The sole shareholder gets to enjoy the limited liability feature of a company.
OPC gets the status of a separate legal entity.
No minimum capital is required to start an OPC.
DISADVANTAGES OF ONE PERSON COMPANY
OPC is suitable only for small businesses, OPC can have maximum Paid up share capital of Rs.50Lakhs or Turnover of Rs.2 Crores. Otherwise OPC need to be converted into Private Ltd Company.
One Person Company cannot be incorporated or converted into a company under Section 8 of the Act.
One Person Company cannot carry out Non – Banking Financial Investment activities including investment in securities of anybody corporate.
WE SERVE EVERYWHERE
adivan is web portal of Arivian Business Solutions Private Limited with operations since 2019. adivan is one stop business setup and consulting company, managed by specialized team of Business Analysts,Company Secretaries, Chartered Accountants, Corporate Lawyers and Financial Professionals company headquartered in Chennai, India. Having known for our quality of services, delivering the projects on time, we have clients spread across the globe
Our Professionals Will help you in getting your business licenses and Business licenses necessary for smooth running of businesses.
We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN
We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.
We will provide funds for both personal and business. Our funding system gives a credit line facility, enabling you to expand your business to new height.
WHAT ARE DOCUMENTS REQUIRED FOR INCORPORATION OF OPC?
WHAT INCLUDES IN THIS PACKAGE OF ONE PERSON COMPANY?