Q. How to Select Name for One Person Company (OPC)? Is their anyone person Company (OPC) name format?

By Paras Mehra 09 Feb 2017

The company name selection should be done on the basis of company name structure. The Company name should start with your brand name e.g Hubco is our brand name (Trademark filed). L The second part of the Company name denotes its objective. Like in case of TATA Steel Limited, steel denotes its steel business. The last part of the Company name ends up with (OPC) Private Limited. No company can be registered without having (OPC) Private Limited or limited at the end.

Q. Is One person Company (OPC) is eligible for startup benefit? Can it be registered to raise funding?

By Paras Mehra 09 Feb 2017

One person Company (OPC) is a private limited company and hence eligible for startup benefits as laid down by the government under the startup India scheme. However, the biggest problem in this form of business is that it cannot raise funding from a venture capital or angel investor by selling its stake/shares.

Q. What are major advantages (pros) of One Person Company (OPC)?

By Paras Mehra 09 Feb 2017

Some major advantages of One Person Company (OPC) Registration:it helps you to protect your personal assets and keeps your liability limited,It provides separate legal entity status and which makes easier for you to have loan funding,One Person Company is registered form of business better than sole proprietorship.

Q. What are the major disadvantages (cons) for One Person Company (OPC) registration?

By Paras Mehra 09 Feb 2017

There are few demerits/disadvantages associated with One Person Company (OPC) registration. Few of the disadvantages of One Person Company (OPC) registration are as follows - One Person Company (OPC) cannot raise funding by selling its shares and hence not preferred for startups,It increases the compliance cost yearly because audit and other compliance are mandatory irrespective of turnover.

Q. How to start a One Person Company business in India?

By Paras Mehra 09 Feb 2017

Starting a One person Company business in India is a very simple job. To start this company, you need to have two person, one will be the sole owner and another is the nominee who shall take care of the company in case of death of the sole owner/director.

Q. What is a difference between a Private Limited Company and One Person Company (OPC)?

By Paras Mehra 09 Feb 2017

A private Limited Company is the sole choice for startups or two persons who are planning to start the company in India. On the other hand, a One Person Company (OPC) is the substitution for sole proprietorship business in India.

Q. What is a difference between sole Proprietorship and One Person Company (OPC)?

By Paras Mehra 09 Feb 2017

One Person company (OPC) is taken as a substitute for sole proprietorship entity in India. Further, there is no denying fact that OPC company is far more superior and better than the traditional sole Proprietorship business.

Q. What do you mean by sole proprietorship Companies as per Companies Act, 2013?

By Paras Mehra 09 Feb 2017

Sole proprietorship companies under companies act, 2013 is another name for One Person Company (OPC) which is also commonly known as Single Person Company.