What is One Person Company? An Overview

What is One Person Company? An Overview

A one person company is a company whose members. It is a separate legal entity from its advertiser and the advertiser has exactly the limited obligation.

Entrepreneurs who are capable of starting their own venture and can use one person company (OBC) in India. One person company is an Indian citizen and the only partner who is an Indian citizen i.e. who has stayed in India for at least 182 days in the previous year.

Nominates another person on the nomination list in case of death of partner or incapacity to be a partner. Companies may or may not incorporate investment into more than one company More than one OBC was introduced in 2013 to promote candidate self-employment. You have one personal company in operation. Non-bank financial institutions do not allow OBC company rules.

Memorandum (i.e. Members) and First Directors, if any, who have not been convicted of any crime in connection with the formation or management of any company, or a confession from each of those subscribers who have not been convicted of any fraud or any offense for any company in India prior to five years. One person It is a separate legal entity from its advertiser that also offers limited liability protection to its sole partner.

Documents Necessary for Registering a One Person Company

  • Proof of identity of the Director and Candidate (Permanent Account Number Card)
  • Address Director and Candidate (Aadhar Card, Driving License, Electricity Bill, Passport) Proof
  • Address Office Proof (Lease Agreement or Deed of Sale, Electricity Bill, Property Tax Receipt)
  • Unrestricted from the owner
  • DSC and Director DIN
  • Director Passport Photo

Benefits of One-Person Company

Features and benefits of OPC company in India

Limited Liabilities: OBC business owners are liability offering you a liability that is less than the investment.

Privacy: Privacy comes out on the death of its stimulus. In the case of the one-person company, the company will be able to continue to exist even if the candidate takes over the director.

Capacity: The company can own the property like building, warehouse and it can also be considered by the law firm as well.

Thus, you might have not got an idea of the OBC company. Make more research to learn more before you establish one for yourself.

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