OPC Company
OPC (One Person Company) is a type of business legal structure that allows a single individual to form and operate a company. It is a legal structure entity separate from its owner, providing limited liability protection to the individual while allowing them to have full control over the company’s operations.
Here are some key features of an OPC:
Single Ownership:
In an OPC, there is only one shareholder or member who holds the entire shareholding of the company.
Limited Liability:
The liability of the shareholder in an OPC is limited to the extent of their shareholding. This means that the personal assets of the shareholder are not at risk in case of any liabilities or debts of the company.
Separate Legal Entity:
An OPC is considered a separate legal entity from its owner. It can enter into contracts, own property, and conduct business in its own name.
Perpetual Existence:
An OPC has perpetual existence, meaning it continues to exist even if the owner or shareholder changes or passes away. This ensures continuity in the company’s operations.
Minimum Capital Requirement:
An OPC is require to have a minimum authorized capital as prescribed by the regulatory authorities of the respective country.
Directorship:
An OPC must have a director who can be the same person as the shareholder. However, there can be a maximum of 15 directors in total.
Compliance Requirements:
An OPC is require to comply with certain legal and regulatory obligations, such as filing annual financial statements, conducting regular audits, and complying with tax laws.
The specific rules and regulations governing OPCs may vary depending on the country and jurisdiction. It is advisable to consult with a legal or financial professional to understand the specific requirements and procedures for setting up and operating an OPC in your jurisdiction.
To visit: https://www.mca.gov.in/
