The idea of One Person Company (OPC) in India was introduced to give a boost to entrepreneurs who have great potential to start their own venture by allowing them to create a single person company. Since, no intervention from any third party is seen, it makes it more beneficial. So, if you want to start up your own business, you don‟t have to worry about all the complex and tedious processes.
One Person Companies are helping tremendously in increasing the overall economy of India. More and more Entrepreneurs are coming up and setting up their business. Since, no intervention from any third party is seen, it makes it more beneficial.
One Person Company, which is a new concept in India, already sees a big boom. A huge impact on the economy and development of nation is expected. It gives opportunities to many and will therefore bring creative and young minds in front of everyone. So, if you want to start up your own business, you don‟t have to worry about all the complex and tedious processes.
Not many compliances
Only one member is required.
Minimal Paperwork is required.
Limits the liabilities of its members
Can act as Stockbroker or Sub-broker
Easy to set up and maintain comparatively.
Unaffected by death of member or change in ownership.