OPC Registration opens up new business opportunities for sole proprietors and entrepreneurs who also wish to enjoy the advantages of limited liability, and a separate legal entity as well. OPC does away the hassles of finding the right partner for starting a business as the registered entity. It requires only one person who will act as a member, shareholder, and director.
An OPC requires that its owner is a natural person. It cannot be a legal or artificial person. An OPC must be registered in the state where you reside or plan to live for at least 182 days a year. You must be at least eighteen years old to be able to incorporate one. The owner can be a natural person or a legal entity. Regardless of the form of business, it is important to consider the benefits of forming an OPC.
A One-Person Company can be registered under any state. There are a few important things to remember when registering your company as a One-Person Company. It is important to remember that it is legally distinct from a sole proprietorship, so you must state your business name. It is also important to mention your One-Person Company in any documents that you use. It is essential to remember that your business name is the legal identity of your company.
An OPC does not have to hold an annual general meeting, but does need to maintain a minutes book, signed by the members. In addition, a one-person company can’t conduct Non-Banking Financial Investment activities, and cannot perform voluntary conversions until it is two years old. However, there are some restrictions. Before incorporating, you should make sure that you have the necessary documentation. An OPC must have a Class-II Digital Signature Certificate on all directors.
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