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One Person Company

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One Person Company

An OPC is eligible for the various benefits provided to Small Scale Industries, such as lower interest rates on loans, easy funding from the bank without a security deposit up to a certain limit, and numerous benefits under the Foreign Trade policy. All of these advantages can be a boon to a business in its early years.

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  • With the passing of the Company’s Act in 2013, a novel business structure known as the “One Person Company” was made legal in India. In India, a business can only be incorporated as a One-Person Company if there is only one founder. Before the Companies Act of 2013 was put into effect, an individual could not start a business on their own and call it a company. An OPC possesses characteristics of a company as well as the advantages of a sole proprietorship. In the past, if a person needed to launch a business, the only legal structure that could be used as a sole proprietorship.
  • A single director and a single member are all that are required to establish a company in accordance with the requirements of Section 2 (62) of the Company’s Act 2013. The requirements for a One-Person Company registration in India are less stringent than those for a Private Limited Company registration.
  • Under the provisions of the Companies Act of 2013, it is possible to obtain a One Person Company Registration in India with only a single member and a single Director. It’s possible that the same person could serve as both the Director and a member. An OPC can be registered in India by a single person, regardless of whether or not they are residents of the country.
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