Register One Person Company
Why One person company
Convert to One Person Company
Advantages Of One Person Company
In a Sole Proprietorship firm, the personal assets of the proprietor can be at risk in the event of failure, but this is not the case for a One Person Private Limited Company, as the shareholder liability is limited to his shareholding.
The structure of OPC is that similar to Private Limited Company. Hence OPC also enjoys the corporate status which helps the entrepreneur to attract quality workforce and helps to retain themby giving corporate designations, like directorship.
OPC form of company is very easy to manage. Only few filings are to be made with ROC and they are exempted from conducted Annual General Meeting. The Board Meetings can beconducted for every six months.
The Director of the OPC can be remunerated and contracts can be entered with it shareholders and its directors. Directors’ remuneration, rent and interest are deductible expenses which reduces the profitability of the Company and ultimately brings down taxable income of your business.