One Person Company Registration in Vijayanagar is registered through Compliance resolution. OPC is the best thanks to beginning your own company. A one-person company is the most popular style of business in Vijayanagar particularly for little scale businesses in terms of funding. An OPC is introduced for the primary time within the corporation’s Act, 2013 (India). The revolutionary new concept of a one-person company has been come out with. in the business Act 2013. Often, we see many Sole Proprietorship concern working in its independent name as a possessor concern. Sole means single and proprietorship means ownership. Sole Proprietor is the occupation that is owned and controlled by a single owner and has boundless liability. This means if a landowner is non- success to meet his debts or responsibility, his individual belongings can be used to throw away off or to self-satisfied the accountability, but One Person Company creates a separate lawful organization and allows for the limitation of liability. The large reason to start a One Person Company compulsory, only one person as bondholder and administrator unlike in normal Private limited company. A company registration chance by the Ministry of Corporate Affairs for sole proprietor entrepreneur to operate employment by a separate legal entity having Hundred control over it.
Why go for One Person Company?
Looking for an inventory business under Hundred own control.
- Not attention to finance in the next two years.
- Best for small set up of profession.
- exchangeable to normal Private Limited Company.
- No consequence of disparity in Ideas, concepts, working, etc.
How much time will it take to register a One Person company?
– It normally takes Seven to Ten Working days after acceptance of all necessary documents. But sometimes it may vary to 10-25 days also which depends on the state of registration, as each state has its own Registrar of Companies to register One Person Company.
What is the minimum capital required for One Person company?
A-One Person company necessary a minimum capital of Rs. 1, 00,000. This amount is supposed to deposit by the bondholder in the bank account of the company. Then the same amount can be used by the company for its performance.
The explanation of a One Person Company is described in Sub Section 62 of section 3 of the firm Act, 2013, which states: “One Person Company means a company which property only one process”. Unlike a private limited company, this sole company registration with a single administrator constraint needs a minimum of two administrators. However, like a private limited company, the One Person Company Registration in India does provide you with Limited Liability. This minimal necessity makes the one-person company registration procedure quite accessible, but yet, still difficult for common people. Therefore, Counsultry is here to help. We are a team of leading business specialists in India. Through our One Person Company Registration process, your One Person Company can be the foundation on time, and your dream your solo company can be realized. Though a One Person Company allows a lone businesswoman to work a corporate entity with limited liability protection, a One Person Company does have a few restrictions. For instance, every One Person Company must nominate a nominee Director in the Memorandum of Association and articles of association of the company – who will become the owner of the One Person Company in case the sole Director is disabled. Also, a One Person Company must be converted into a Private Limited Company if it crosses an annual turnover of Rs. Two crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year like all types of Companies. Therefore, it is important for the Entrepreneur to carefully consider the features of a One Person Company prior to incorporation.
One Person Company or OPC Company registration in Vijayanagar 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/