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One Person Company
A One Person Company (OPC) is a type of business entity where a single individual owns and runs the company. It combines the benefits of sole proprietorship and a private limited company. The sole owner enjoys limited liability protection, meaning their personal assets are shielded from the company's debts. This structure is designed to encourage individual entrepreneurship while providing legal and financial protection similar to that of a larger corporation.
Features
Limited Liability
The sole owner’s liability is limited to their investment in the company. Their personal assets are protected from the company’s debts and liabilities.
Perpetual Succession
The OPC has perpetual succession, meaning the company continues to exist even if the owner dies or becomes incapacitated. A nominee must be appointed to take over the company in such cases.
Single Ownership
An OPC can have only one shareholder, who is the sole owner and has complete control over the company's operations.
Minimal Compliance
Compared to other business structures like private limited companies, OPCs have fewer regulatory and compliance requirements, making it easier for individuals to manage.
Separate Legal Entity
An OPC is a separate legal entity distinct from its owner. It can own property, incur debts, sue, and be sued in its own name.
Ownership Transferability
The ownership of an OPC can be transferred to another individual, but it involves changing the company's nominee and adhering to regulatory requirements.
Steps to register a One Person Company
1. Fill the contact form /make appointment
2. Initial Consultation with our experts
3. Documents Preparation.......
4. Process ahead with guidance