#opconline

The concept of One Person Company came into existence in India after the enactment of Companies Act 2013. The objective of this notion is to boost small entrepreneurs and young innovative minds to start their entrepreneurship without looking for multiple shareholders or subscribers. This concept provides various benefits to an individual starting from a lower rate of interest on loans to easy funding from financial banks without any security deposit and many more.

When starting a business, many options are available. For a single owner, there are usually two options: The Private Limited Company and the One Person Company. A One Person company has many advantages and is one of the most preferred business models by Single Owners looking to start small and grow gradually.

This blog article enumerates the issues related to the Incorporation of One Person Company.

OPC is owned and controlled by one person. This is what sets us apart from other types of companies. With the introduction of GST on July 1, 2017, many OPC companies immediately migrated or registered for OPC GST registration.

OPC’s GST registration of OPC in India can be easily completed online, eliminating the need to physically submit documents. Instead, the OPC will have to provide scanned copies of the required documents as part of the GST registration application.