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Generally, one person company is a company that can be mainly incorporated by only one person. You are required to start thinking of the name when you are thinking about starting one person company in a most effective manner. This one-person company can be formed under the company that can be limited by shares or guarantee. It is mainly considered to be the salient feature of OPC.
One Person Company
In general, the One Person Company is the latest concept that brings great relief for various entrepreneurs. Through the Companies Act 2013, this One Person Company has been introduced in India. You need to know the fact that, Section 2(62) defines One Person Company as a company that should consist of only one person as a member. That member must be both the director and shareholder at the same time.
Impact of One Person Company:
The extraordinary benefit of establishing a One Person Company is that the owner is mainly responsible for all affairs. The company matters consist of less liability and enjoy more benefits as same as that of the private limited company. According to the rule of One Person Company, the owner is considered to be the most powerful authority.
Advantages of being small scale industries:
One Person Company can let you experience more benefits offered to SSI – Small Scale Industries such as easy funding from the bank. OPC consists of more number of benefits under foreign trade policy and some other related policies.
Easy funding:
One Person Company can be able to raise funds via financial institutions, angel investors, venture capital and much more. It is a company as a private company. OPC can able to raise funds and hence graduate itself to a private limited company.
Separate legal entity:
One Person Company is a separate legal entity and able to execute everything that the entrepreneur can able to do.
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