The One Person Company (OPC) was recently introduced as a strong improvement over the sole proprietorship. It gives a single promoter full control over the company while limiting his/her liability to contributions to the business. This person will be the only director and shareholder (there is a nominee director, but with no power until the original director is incapable of entering into contract). So there's no chance of raising equity funding or offering employee stock options OPC has limited liability of its members unlike in a partnership firm. The OPC is one of the most credible structure and preferred over a Proprietorship.
Inclusive of all taxes & govt. fees
To incorporate a One Person Company, a Director and a nominee is required. A nominee member is one, who shall, in the event of promoter member`s death or incapacitation become a member of the Company.
No, you will not have to be present at our office or appear at any office for the incorporation of a One Person Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.
Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years
An address in India where the registered office of the One Person Company will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.
Pied Piper can incorporate a One Person Company in 10-21 days. The time taken for incorporation will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy incorporation, please choose a unique name for your Company and ensure you have all the required documents prior to starting the incorporation process.
Yes, a salaried person become the director in an OPC, there are no legal bondages in this, but you have to go through with your employment agreement if it contains any restrictions on doing so.
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