OPC Pvt Ltd Company is the most prevalent choice to start a business in India by that individual who is Proprietor(Single). OPC Pvt Ltd company is incorporated beneath the Companies Act of 2013 and governed by the Ministry of Corporate Affairs (MCA). It is a registered entity with a different legal identity from its owners. It has key advantages like the ability to contract in its name and protect the personal assets of the proprietors from business drawbacks and Tax advantages. This option is chosen by those people who don't want any other participation in their equity. Register your Business as OPC One Person Company Registration in India at Lowest Price.
1. Limited Liability: It helps in protecting the personal assets of the owners with limited liability protection. So if there are any financial issues with the company, the assets of the director are secured and could not be seized by banks or departments.
2. Credibility: As OPC is a private limited company, it has higher credibility than traditional proprietorship firms. Unlike Sole Proprietorship, the Certificate of Incorporation is issued to One Person Company.
3. Continuous Existence: Unlike proprietorship, where the firm comes to an end with any mishappening with the proprietor, One Person Company continues to exist as it is passed on to the nominee director.
4. Separate Legal Entity: : An OPC is a private legal entity in its own right and hence the business owners aren't subject to any personal liability. The company can acquire assets and incur debts on its name. 5. NRIs can register OPC: As per the amendment in the Union Budget 2021-22, One-Person Companies can be incorporated by non-resident Indians. A person who has remained in India for a minimum period of 120 days immediately foregoing the economic year can register an OPC.
5. NRIs can register OPC: As per the amendment in the Union Budget 2021-22, One Person Companies can be incorporated by non-resident Indians. A person who has stayed in India for a minimum period of 120 days immediately preceding the financial year can register an OPC.