The concept of one Person Company allows a single person to run a business entity in the form of a company in his own name and be the sole director and shareholder of the company. MAANOF offers OPC registration from Rs.3999/-
One Person Company (OPC) Registration
One of the prime advantages of a One Person Company (OPC) is that there can be operated by a single director and a single shareholder unlike a private limited company or public limited company in which more than one director and shareholder/member is required. Also the greatest advantage of running an OPC instead of proprietorship Business is that the liability of director or the member is restricted to the assets in the name of the company and personal assets of the director or shareholders in case of bankruptcy, which is not available in case the business is operated in the form of sole proprietorship.
Additional requirement to be fulfilled in the case of OPC over the proprietorship business:
- Annual filing of its financial statement with the Registrar of Companies.
- Appointment of a nominee Director in case disability or death of the sole director of OPC.
- If the turnover of OPC exceeds Rs 2 Crore annually it has to be converted in to a private limited company.