Description

One Person Company (OPC) in India

The term ‘one person company’ has been defined under Section 2(62) of Companies Act, 2013.

As per this, One Person Company’ means a company which has only one person as a member.

The OPC are becoming popular for doing business/profession/service in various economic fields in India by entrepreneurs, professionals, business persons, industrialists, etc.

It is basically a private company with some unique features.

The concept of OPC provides a more flexible structure and less compliance requirements of a company.

An OPC can be formed and managed by a single director and a single shareholder and a single person can be both of these simultaneously.

The subscriber to the memorandum of a OPC shall nominate a person, after obtaining prior written consent of such person, who shall, in the event of the subscribers death or his incapacity to contract, become the member of that OPC.

It may be noted that only a natural person who is an Indian Citizen and Resident in India-

• Shall be eligible to incorporate a OPC;
• Shall be a nominee for the sole member of a OPC.

The professionals of AUDITING BAZAAR  provide efficiently and responsibly all support and services for OPC registration in India, and also for conversion of OPC into private or public limited company, as per requirement.