One Person Company Registration
An OPC is a type of business organisation that combines the advantages of a sole proprietorship and a corporation. Finding the ideal co-partner or co-partners to launch a business as a registered entity is thus made easier.
The unstructured proprietorship business is being transformed into a structured private firm by one person companies. OPC is paving the way for startups and sole proprietors.
The OPC may be established by an individual for any legitimate purpose, in accordance with Section 3(1)(c) of the Companies Act, 2013. According to Section 2(62), a "One Person Company" is a business with just one member.
It is acknowledged that One Person Company is a private company. There is only one shareholder and one director in this company. Now anyone operating as a solo owner can profit from restricted liability. The One Person Company is an illustration of crucial expansion in our nation's economic sector.
The Ministry of Corporate Affairs must first approve the company name before a firm may be registered in India (MCA). It takes this process between 24 and 48 hours. In India, the words "private limited" must be at the end of a company name. One Person Company (OPC) private limited is the last name.
A one-person company (OPC) is a business that was founded by just one person. A company must have a minimum of two members and two directors. The greatest option for an individual looking to launch a business is a single proprietorship. Before the 2013 Companies Act, a business could not be founded by a single person.
Read the process here.. One Person Company Registration