Do You Owe One Person Business? Know the Registration Process
One Person Company introduced through the Companies Act, 2013 and it gives support to those entrepreneurs who are capable of starting a new business to create a single person economic entity. The main advantages of One Person Company (OPC) is that it can be formed with only one member unlike Private Limited Company or a Limited Liability Partnership (LLP) which need at least two members. Like a Company, One Person Company is totally a separate legal entity from its promoter which offers limited liability protection to its sole founder.
Limitations of OPC
Though One Person Company allows single Entrepreneur to operate a business entity with limited liability protection, it has few limitations. Every One Person Company (OPC) must have to nominate a nominee Director in MOA and AOA of the company – who will take the responsible of the owner of the OPC if the sole Director is disabled. Beside it, OPC automatically converted into a Private Limited Company if it crosses annual turnover of Rs.2 crores and then it is mandatory for it to file audited financial statements with the Ministry of Corporate Affairs after ending of each Financial Year like other Companies. Therefore, it is important for the founder to carefully gather information about the features of a One Person Company before incorporation.
OPC registration provider
If you are planning to start an OPC and face any trouble regarding OPC registration service then you can contact us as we provide all types of possible solution for all types of registration issue. We are the market leader in all types of company registration services offering a variety of company. The average time needed to complete a one person company registration is about 10 – 15 working days. So, call us and get a free consultation for OPC company registration service.
Our Other services:-
- Trade license setup
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- Professional Tax registration
- Vat tax registration
- Sale tax registration
- Income tax Filling
- Labour license registration
- TDs filling.
Please feel free to call us 033 44126486
5 Grastin Place , Ground Floor .Kolkata 700001
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