“One Person Company Is The Preferred Choice Of Business For Startups Who Have Only 1 Founder”
One Person company, as the name suggests, it is owned and managed by a single person. As per the Companies Act, 2013 “One Person Company means a company which has only one member”. The concept of One Person Company (OPC) in India was introduced to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity.
Forming an One Person Company will provide businessmen much flexibility in management, attains benefits and status like Private Limited Company, which means they will have limited liability, legal protection for business, access to credits, bank loans, access to markets etc., all in the name of separate legal entity.
Normally, naturally born Indian, who is a resident of India, can only obtain the advantages of a One Person company. We require two persons to register One person company, one is Member cum Director and the other person would be a Nominee.