What Are The Top Advantages Of The One Person Company Registration Procedures?

A few years back the only avenue available for a single person to start his or her business was to opt for a sole proprietorship. But now there is no need to worry because with the advancements and amendments into the companies act 2013 there is a new concept with the name of OPC or a one-person company. The one-person company is very well suited for the people who are interested to be the sole businessman and will help in providing the people with the complete advantage of limited liability along with separate legal entity and status. This particular concept is very much capable of providing the people with a better standing in the entire market. 

 Following are some of the very basic advantages of indulging in the OPC company registration procedures: 

  1. According to the companies act, OPC is the best possible way of ensuring that liability will be perfectly limited to the unpaid subscription money in his or her name which means that personal property will be completely safe and secure from the creditors of the business.
  2. This particular concept comes with a high level of succession and will ensure that people will be able to and give a continuous life to the business beyond the life of the founding director.
  3. If the OPC has been registered under the act it will always be availing the best possible privileges which could come with a firm being listed as a private limited company.
  4. The legality of this particular type of business always makes sure that the perpetual succession clause will be easily made available because it is very much popular among banks and financial institutions.
  5. One person company always comes with very easy filing of the returns and make sure that auditing of the things will be carried out very effectively and everything can be very well carried out with the signature of the director. The need for the company secretary’s signature will not be mandatory in this particular area.
  6. Registration of the one-person company will also make sure that people will be able to have access to better funding and financial opportunities because of the market standing provided by this particular type of ownership and type of business in the industry.
  7. One person company will always make sure that people will be able to enjoy better opportunities because of the limited liability and the best part is that they can even take more risk in the business world without any kind of loss or risk to their assets. So, this particular concept is very much beneficial for the people who are encouraged and are interested to indulge themselves in innovative start-ups.
  8. One-person company form of organization is also very much beneficial for the people because of the minimum requirements in the form of one shareholder, one director, one nominee, and several other kinds of related technical aspects.

 -Hence, apart from all the above-mentioned points any business entity which runs in the form of a company will be able to enjoy better prestige in the industry. So, to register OPC is a very wise decision because of all the above-mentioned points.

Boris Petrov

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