One Person Company Registration in TinFactory consultants are providing One Person Company is a type of business entity where the company can be formed with a single person. This concept of single proprietorship firm has immediately. Grown-up due to its different interests for its owner. It contribute full authority of the company in single hand of its owner while limiting its liabilities to contribute to the company.
One Person Company is defined as the company having only one person as a member under Section 2 of the Companies Act, 2013. OPC can be only registered as a Private Limited Company. This means all the stores that are apposite upon Private Limited Company will be applied to the One Person Company also.
What are the advantages of One Person Company registration in India?
There are so many benefits of registering your firm as a One Person Company. Some of the main benefits are given as follows:
- Limited liability: It is the chief benefit of one person company readjustment in India which means that the accountability on the director is limited. The personal assets of the director won’t be harmed if the company goes into a loss or at the times of debt. His estate remains safe.
- No Lower capital requirement: There is no as such minimum capital necessary for the formation of one Person company however, they shall not exceed the maximum license capital of Rs. 50 Lakhs at any point.
- Low compliances: Minimum paperwork and less compliance are the chief benefits of One Person Company Enrolment
- No legal disputes: It is for sure if all the power is on one hand then there is no chance of legal disputes between the associate administrators of the company.
- Continuous Existence: Though One Person Company is controlled by a single person he needs to sign a nominee who will handle the company in case of his illness or death. One Person Company has a continual continuation and is not damaged due to the breakdown or death of its owner.
The One Person Company: the firm has mannerism of a classical proprietorship firm where a single representative. Owns, authority, and handle the affairs of the company. As per the Company Law ground rule, a One Person Company shall be converted into a Private Limited Company within six months upon reaching an average three year turnover of 2 crore rupees, or when the Paid backing of the company is increased to above Fifty lakhs.
In One Person Company formation, a single member can act both as a shareholder and director of the company. The company is solely started and authority by one person. It is a welcome move to initiate the Start-up movement in India as it eliminates avoidable hurdles in the construction of a Company.
The One Person Company: is a new and a great initiative by Govt. of India based on the Companies Act 2o13. It strengthened the construction of start-ups by the speculator. While the One Person Company contributes a single member total control over the company immorality but it also limits the advertiser accountability to the business. There are So Many opportunities for entrepreneurs in going for a One Person Company but with one inconvenience that there’s a limitation in increasing equity investment and contribution employee stock options.
One person company or OPC Company registration in TinFactory cost will depend on many factors like based on company nature and based company type which you have selected. Costing information can be decided by consulting experts. Consultry is the best team that can help you to get register your organization at an affordable cost. If you are looking to get register your organization feel free to send your inquiry to firstname.lastname@example.org or feel free to contact: 7975187793 or visit https://www.consultry.in/