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OPC or One Person Company Registration has become a trend in India. The Youth of India are the most common person who is availing of this new concept introduced by the Companies Act. And the reason for its popularity can be easily seen with naked eyes eventually. In this article, we have compiled ten prime advantages of registering One Person Company in India.
Advantages of One person company registration in India
The advantages are as follow-
- The foremost advantage of OPC is the difference between Private Limited Companies and OPC.
- The compliances and the process of acquiescence are very feasible in OPC registration
- No need to rush behind anyone as OPC needs only one member to run this business formation
- If the ownership of company changes there is no effect on the company
- It is very pocket-friendly as One Person Company can open the bank account with less than Rs 5000.
- It encourages entrepreneurship in youth as a person who wants to run a business can do without the partnership
- You can start the company with the very little amount of capital
- One person company’s yearly return is required to be signed by the director only and there is no need to appoint CA, CS for signing it.
- No prerequisite to holding an annual meeting or an extraordinary general meeting in One Person Company.
- A One Person Company requires only one meeting of the Board of the director in one year in which the gap between the two meetings shall not be less than 90 days.
If you have a feeling that you are more than enough and do not want to be in any kind of chaos then you must go with the one person Company registration in India.
