New Age Business Ownership

A Concept for New Age Business Ownership- One Person Company

The revolutionary new concept of ‘One Person Company’ (OPC) has been introduced by the Companies Act, 2013. A One Person Company (OPC) is a combined package of a Sole Proprietorship business and a Company.

‘One Person Company means a company which has only one member’

OPC company registration is easy and it required lesser documentation. There is only one minimum director required and one nominee (like a successor). The Benefits that a Pvt limited Company enjoys can be enjoyed by the OPC as well. OPC has a separate legal recognition, funding/ loan opportunities are possible, legal contracts can be entered, income tax of the OPC is kept separate from the individual / promoter, hence lesser complications on the individual’s head.

OPC has to be incorporated through Ministry of Corporate Affairs. Not even an audited annual returns need to be submitted to MCA.

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