One Person Company is another face of Private Limited Company specially introduced for those entrepreneurs who are capable to run their entity individually and do not want to share their business ownership with another. If you are planning to run your business with 100% ownership control then you may go for One Person Company Registration. The intention behind introduction of One Person Company concept was to provide validation and proper legalization of those persons who are running their business in sole proprietorship and want to expend it without any interference of anyone.
However Government has provide various exemption to One Person Company Registration in terms of legal compliances, taxation, funding or loans etc. One Person Company Registration works like Private Limited Company having only one director in Board of Company.
One Person Company has its separate legal entity from its director, can hold, purchase, alienate property or rights on its own name.
One Person Company requires lesser compliances as compare to Private Limited Company or Public Limited Company or any other kind of business registration.
Only single director has complete control over the One Person Company. It does not provide facility of dual ownership in One Person Company Registration.
As comparison to earlier policies now it is quite easy of One Person Company Registration. Only one director and his nominees documents are required.
One Person Company status remain same even ownership transfer from one person to other person or in favor of nominee under One Person Company.
Yes! Invest as per your requirement; you don’t need to maintain a minimum level of capital. You can even start your company by investing Rs. 10 as your capital.
It became easy, just follow these steps to get your work done