One Person Company is a new concept in India. A single person can now incorporate a Company with one member and Director. Such encourages more people to come forward to start the business. It is a type of Company Registration with lesser compliance requirements. A single member enjoys sole authority in running the business.
The business owner gets OPC name with (OPC) Private Limited at the end. OPC company can have only one shareholder, but there can be more than one Director. Both Residents of India and NRI can now do OPC Registration in India.
One Person Company registration is a quick and effective way to run a business in India. The shareholder has to give a nominee name while registration of an OPC.
There is no rule under the Companies Act, 2013 to have any amount as the least paid-up capital. Any person can do OPC registration with any amount of capital.
It offers a flexibility of a private limited company and an LLP. A shareholder cannot incorporate two One Person Companies. Also, a natural person can become a shareholder in an OPC.
A LLP is a separate legal entity. LLP partners assumes limited liability only as per the law.
A LLP is a good option to generate fundings from bank or investor against profit sharing.
A One Person Company is a registered entity. It has more business credibility as compared to other unregistered entities.
There are fewer compliances contemplated under the law for a One Person Company. Owner can focus more in business rather in compliances.
A Company can also take funds through various modes such as bank loans and funds to run a business.
As there is only a single member in the OPC, taking decisions is easy. Ownership lies with only a single person.
1-2 working days
2-3 working days
3-5 working days
|Sl. No.||Particulars||Private Limited||One Person||LLP|
|1||Eligibility||Any individual may form a PLC.||Only a natural person who is an Indian citizen and resident in India. shall be eligible to incorporate an OPC.||Any individual and body corporate may be a partner in LLP.|
|2||Taxation||Taxed at 30% plus surcharge and cess as applicable.||Taxed at 30% plus surcharge and cess as applicable.||Taxed at 30% plus surcharge and cess as applicable.|
|3||Closure/Dissolution/ Winding ups||Can be initiated- Voluntarily, or By the Tribunal||Can be initiated- Voluntarily, or By the Tribunal||Can be initiated- Voluntarily by the partners or; By the Tribunal|
|4||Existence or Survivability||PLC is not dependent on the directors or shareholder. Can be dissolved only voluntarily or by Regulatory Authorities.||Existence of an OPC is not dependent on the Director or Nominee Director. Could be dissolved only voluntarily or by Regulatory Authorities.||LLP can continue its existence irrespective of changes in partners.|
|6||Statutory Audit||Compulsory||Compulsory||If Contribution > Rs 25lacs or, Turnover > Rs. 40lacs|
|7||Minimum Requirement||Members-2 Directors-2||Member – 1 Director – 1 Nominee of Sole Member – 1||Designated Partners – 2|
|8||Fund Raising Options||High||Low||Low|
Well with highly qualified professionals in our team along with the technology gives edge over others, as a result highly rated professional services with full customer satisfaction is assured. We help to grow and manage your business letting you to concentrate on your business.
Unilex is registered with the Ministry of Micro, Small & Medium Enterprises (MSME), a part of Government of India.
Unilex is a ISO certified body, assuring the quality professional services to aspiring startups
Subject to our terms and conditions, money back is guaranteed if we failed to give 100% customer satisfaction
Unilex is a Google Partner. Google Partners are tasked with helping businesses market their service or products online.
Get yourself updated with various start-up/Entrepreneurship laws applicable in India. Dive into our well written articles/blogs by our experts and get more information on government regulations and company rules and regulations.