CORPSTORE BUSINESS & CONSULTING SERVICES
One Person Company Registration
The concept of One Person Company (OPC) was introduced in the Companies Act, 2013 to support entrepreneurs who are capable of starting a corporate form of business to create a single person entity. The main advantages of a OPC is that there can be only one shareholder in a OPC, But for private limited company a minimum of two shareholders are required for incorporation. Similar to a company, OPC is a separate legal entity from it member, provides limited liability to its shareholder, has perpetual succession.
One Person Company (OPC) allows the Sole Entrepreneur to run business with Limited Liability, Every OPC must appoint a nominee, who will become the owner of the OPC in case the promoter Director is disqualified or insolvent or disable.It is must to convert OPC into a Private Limited Company if its annual turnover crosses Rs.2 crores or paid up capital exceeds Rs.50 Lakhs. The OPC must file its audited financial statements with ROC at the end of each Financial Year within prescribed time. Therefore, it is important for the Entrepreneurs to consider both positive and negative aspects before incorporating OPC. We corpstore helps you in one person company (OPC) registration any where in India.