what is OPC company?
One Person Company (OPC) is a company incorporated by a single person. Before the enforcement of the Companies Act, 2013, a single person could not establish a company.
What are the benefits of OPC?
The advantages of an OPC are as follows:
- Safety Net. According to the Companies Act, the liability of the single shareholder in an OPC is limited to the unpaid subscription money in his/her name. ...
- Succession. ...
- Market Value. ...
- Easy Credit Facilities. ...
- Easier Returns Filing. ...
- Tax Rate. ...
- Need for Change. ...
- Only One
- Is Pvt Ltd better than OPC?
- One of the best advantages of having a Private limited company is that foreign nationals and NRIs can quickly start the PLC in India. Also, 100 percent FDI under the automatic approval route is accessible in the Private Limited Company. But in the OPC, only the citizens of India are allowed to commence the company.
Can OPC buy shares?
- An OPC is sub-category of Private Limited Company and by virtue of its status, it can invest in stake of another company and own the same. However, this object shall be inserted into the object clause of the MOA.
Can a company have only one shareholder?
Only 1 shareholder is mandatory and there is no maximum of shareholders. The executive board may consist of minimum 1 person and there is no maximum. A public limited company needs to have either a board of directors or a supervisory board.
Can OPC issue shares?
OPC cannot acquire/invest in securities in its own name in other body corporate however member can invest in the shares of other body corporate. OPC cannot issue or allot shares to anyone except its member.
How can I close my private limited company OPC?
Closure of the OPC is done voluntarily and is done through the fast track exit scheme. Winding up of the company may be voluntary or by the order of the Court by appointing an official liquidator to monitor the process of Winding up. Dissolution is initiated by the Court for ending the legal existence of the Company.
Is audit compulsory for OPC?
AUDITOR'S APPOINTMENT
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