What are the top advantages of one person company form of organisation in India?
Several people in the world are having different kinds of ideas but ultimately due to lack of funds or several other kinds of technical issues, they are unable to give it a practical shape in the whole process. But now there is no need to worry because the rules and regulations have become very much relaxed for the people and now even a single person can go with the option of launching their own company. Some of the very basic advantages of the concept of one person company have been perfectly explained as:
One person company will always be enjoying a separate legal identity in the eyes of the law and will be very much capable of doing everything which a particular entrepreneur is interested to do.
Depending upon one person company is a very good idea because it will be based upon easy funding opportunities and will further make sure that people will be able to deal with things of venture capital and financial institutions very easily. Such companies can also raise funds very effectively without any kind of problem because of the credibility associated with it.
One person companies will be having proper access to more opportunities and the best part is that the liability of the owner will be perfectly limited to the shareholding undertaken by him or her. Hence, there will be no risk or loss to the personal assets of the owners and encouragement will be perfectly there especially for the innovative start-ups.
One person company deals with very minimum requirements of having a single director, single shareholder and single nominee which very well justify its name and the best part is that people have to face very little compliance burden associated with this particular area and can be very much functional into the core areas of the business.
The One person company can also avail several kinds of benefits which have been provided to the small-scale industries because there will be a lower rate of interest and easy funding from the bank will be easily made available for such people. All these kinds of benefits are considered to be a boon for any kind of business into the very initial years.
There will be a single owner of the organisations which will further help in making sure that decision-making will be carried out very easily and controlling as well as management of the business operations will be done without any kind of hassle. The methodologies will be perfectly adapted and organisations will be having a sense of belongingness in the whole process.
One person company with a bad credit rating and also get the loan very easily because the credit rating of the one person company will not be material if the rating has been perfectly undertaken as per the norms of the industry.
Apart from all the above-mentioned points OPC registration online is also a very good idea because there will be multiple benefits to the income tax laws as well and there will be increased trust as well as prestige for the people.
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