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One-Person Company (OPC) Registration in Srinagar
OPC is the ideal choice for solo entrepreneurs, offering limited liability
and a corporate structure without the need for partners.
- Expert assisted Online OPC registration in 7 business days
- Name approval, DSC, DIN allotment, PAN, TAN, and compliance filing Done
- Support for annual compliance, financial statements, and statutory audits
Expert Consultation in Minutes
OVERVIEW
Registering a One-Person Company (OPC) is favored among entrepreneurs who desire
limited liability and a distinct legal identity. OPC is a unique business structure
that permits a single person to function as a company, giving them the benefits of
limited liability while retaining complete control. In an OPC, the individual serves
as both the director and shareholder, merging the advantages of a sole proprietorship
with the legal protection of a private limited company.
At IncorpX, we specialize in simplifying the OPC registration process, ensuring that entrepreneurs can smoothly navigate the complexities of legal formalities with reasonable One person company registration fees. Our experienced team is dedicated to assisting you at every step, from document preparation to filing, we offer expert guidance to help you make informed decisions regarding your One Person Company Registration.
Contact us now and take the first step toward building your entrepreneurial dream!
At IncorpX, we specialize in simplifying the OPC registration process, ensuring that entrepreneurs can smoothly navigate the complexities of legal formalities with reasonable One person company registration fees. Our experienced team is dedicated to assisting you at every step, from document preparation to filing, we offer expert guidance to help you make informed decisions regarding your One Person Company Registration.
Contact us now and take the first step toward building your entrepreneurial dream!
One Person Company in Company Law
Section 2(62) of Companies Act defines a one-person company as a company that has only one person as its member. Furthermore, members of a company are nothing but subscribers to its memorandum of association, or its shareholders. So, an OPC is effectively a company that has only one shareholder as its member.
What is an OPC?
One Person Company (OPC) registration in India was introduced as a concept under
the Companies Act of 2013, enabling a single individual to establish a company and
enjoy the combined benefits of both a sole proprietorship and a traditional company structure.
This concept became available with the implementation of the Companies Act in 2013.
The primary objective behind creating one-person companies was to foster entrepreneurship and encourage the formalization of Micro, Small, and Medium Enterprises (MSMEs). According to Section 2(62) of the Companies Act 2013, a company can be formed with just one director and one member, and interestingly, these roles can be held by the same individual. Simply, OPC Company registration allows a single person to set up a limited liability company in India. The following describes the eligibility and procedure to register one person company.
The primary objective behind creating one-person companies was to foster entrepreneurship and encourage the formalization of Micro, Small, and Medium Enterprises (MSMEs). According to Section 2(62) of the Companies Act 2013, a company can be formed with just one director and one member, and interestingly, these roles can be held by the same individual. Simply, OPC Company registration allows a single person to set up a limited liability company in India. The following describes the eligibility and procedure to register one person company.
Features of a One Person Company
A one-person company (OPC) allows a single entrepreneur to operate a corporate entity with limited liability protection, ensuring personal assets are safeguarded. It simplifies compliance and administrative requirements, making it easier for solo entrepreneurs to manage their businesses. Here is a list of the features of a one-person company
- Single Ownership: An OPC is formed by a single person, who is both the shareholder and director.
- Limited Liability: The liability of the member is limited to their shares, protecting personal assets.
- Perpetual Succession: An OPC can continue its existence even after the death or incapacity of the owner, through the nomination of another person.
- Separate Legal Entity: An OPC is a distinct legal entity from its owner, allowing it to own property, sue, and be sued in its own name.
- Minimum Compliance: OPCs have fewer compliance requirements compared to other types of companies, making them easier to manage.
Privileges of One-Person Companies
Registering as a one person company provides many added advantages and functioning ease. Here are some privileges of an one person company
- Simplified Annual Returns Filings: OPCs are required to file fewer documents with the Registrar of Companies.
- Limited Liability: The liability of the member is limited to their shares, protecting personal assets.
- Exemptions from Holding Annual General Meetings (AGMs): OPCs are not required to hold AGMs, simplifying their operational processes.
- Access to Loans: Banks and financial institutions are more likely to offer loans to OPCs due to their formal structure and limited liability.