One Person company is a new concept introduced in the Companies Act, 2013. 'One Person Company means a company which has only one member'. Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC. Following are some of the advantages of forming one person company(OPC).
- 1. The biggest advantage of a one person company is that its identity is distinct from that of its owner. Therefore, if the firm is embroiled in a legal controversy, the owner will not be sued, only the company will.
- 2. Small Entrepreneurs who are running their businesses under the proprietorship can convert their business model to OPC without much compliance.
- 3. Since the company is distinct from that of its owner, the personal assets of the shareholders and directors remain protected in case of a credit default. However, a proprietorship offers no such advantage.
- 4. Complete Control Of The Company With The Single Owner which leads to fast decision making and execution.
Our team of professionals will provide following services to our clients:
- - Incorporation of one person company
- - Conversion of one person company & matters related thereto.
Basics Requriments of OPC
- - Only one director is required to incorporate an OPC
- - Minimum requirment of share capital is one lakh.
- - DSC [DIGITAL SIGNATURE CERTIFICATE] for all Directors.
- - DIN [DIRECTOR IDENTIFICATION NUMBER] for all Directors.
- - Require Documents Address & ID proof of all Directors.
Mandatory - PAN CardAddress Proof : Bank Statement / Electricity Bill / Telephone Bill / Mobile Bill.
ID Proof : Voters Identity Card / Driving License / Passport / Aadhar Card.
Address Proof of Registration Office : Address proof of proposed registered office address for registration of company.