One Person Company means a company which has only one person as a member. An OPC is incorporated as a private limited company, where there is only one member and prohibition in regard to invitation to the public for subscription of the securities of the company.
A new concept in starting up a company has been introduced by Companies Act 2013 and concept named as One Person Company. One Person Company is a company owned and run by a single person. One person company registration in bangalore has lower abidance when compared to a Private Limited Company. What is OPC or One Person Company?
OPC or One Person Company is a type of a company formed by a single person who is the director and owner of the company. According to the Company’s Act, 2013, One Person Company Registration in Bangalore is a type of sole proprietorship business structure in the form of a company which provides complete authority to the owner to run the business as limiting his duties and financial liabilities for the business.
Benefits of One Person Company Registration
Most of the business personnel choose a Private Limited Company to register because of its exclusive advantages but the hidden truth is One Person Company Registration can offer them better opportunities and exclusive advantages with very less compliance. Following are some of the benefits of One Person Company Registration in Bangalore
Limited Liability One Person Company Registration provides you more opportunities to take risks, research and explore better business opportunities without any pressure of shedding on any personal property. Therefore, OPC is a recommended option for the new, young and innovative entrepreneurs.
Existence Continues Sole Proprietorship will come to an end with the death of the owner or proprietor whereas in the case of an OPC company, it has a separate legal identity and it would go on to the nominee director and, hence, the company continues to exist.
Greater Credibility A One Person Company needs to have its accounts audited annually, which in turn has greater credibility and believability among traffickers and lending institutions.
Ease In Funding Like a private limited company, One Person Company can also bring up its fund through angel investors, financial institutions, venture capitals, and so on. A One Person Company can also upgrade itself into a Private Limited Company to bring up its funds from outside.
Registration With Least Requirements Not any type of company can beat OPC when it comes to the registration process as it can be done with the least requirements.
Benefits Of Small Scale Industries An OPC can use all the benefits offered to small scale industries like easy investment without depositing security to certain levels, financial help or loans at lower interest rates, advantages under foreign trade policy, and many more on the list. These are some of the important advantages which play a vital role in the development of the company in its starting days.
Acknowledged As A Trustful Separate Legal Business Structure Any business structure which is registered under the Company Act, 2013 is recognized as a separate legal entity and it comes under more trustworthy company registration when compared to the non-registered companies..
Anyone can start an opc registration in bangalore by satisfying the below requirements. OPC Registration Requirements are below:
A shareholder or director is required as both can be the same person
The owner or director of the company should be a citizen of India.
Few little compliances of required documents
Due to this less burden, a person or the owner of the company can spend more time focusing on his company development and its functional areas.
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