The one-person company registration procedure is considered to be a great idea on the behalf of people because this is the form of organisation which can be incorporated by a single person. This particular system will be definitely helpful in providing people with multiple benefits and some of the basic benefits of depending on OPC registration online have been explained as follows:
One-person company will definitely receive a separate legal entity status from the member. It will be helpful in providing people with the best level of protection to the individual who has incorporated it. The liability of the member will be very much limited to the number of shares held by him or her and he or she will never be liable for the personal loss of the company.
Easy in terms of getting the funds:
Since the registration will be very much helpful in providing people with the best possible level of credibility ultimately. It will be helpful in making sure that fundraising will be carry out very easily and there is no chance of any kind of problem. In this particular scenario, people will be able to find it very much easy to have access to the funds from the house of financial institutions. So that benefits will be significantly enjoy and further people will be able to enjoy a lot.
Very low compliance:
There are different kinds of exemptions present to the one-person company. In comparison to another form of ownership of the organisation. Which very well justifies that significant compliance will be relax without any kind of doubt. The one-person company will never be require to prepare the cash flow statement. So, There is no need for the company secretary to sign out the books of accounts and annual returns. Because these can be easily undertake by the director himself.
Easy in terms of incorporation:
It is very much easy on the behalf of people to incorporate a one-person company. Which very well justifies that things are sort out very easily and there is no chance of any kind of problem. The member can also fulfil the role of the director in the minimum authorise capital. For incorporating the one-person company will be Rs.1,00,000 without any kind of no minimum paid-up capital requirement. Ultimately things will become very much easy for people to implement in comparison to other available forms of organisation in the world.
Easy in terms of management:
Since the single person will be the one who has been always at the forefront. In terms of undertaking the decisions and managing the affairs. It becomes very much easy for people to manage things. The ordinary and special resolutions have to be pass by the member and simply entering them into the minute book. Which has to be sign by a sole member. So, the bureaucratic aspect will be eliminate from the whole process. Which will be helpful in providing people with multiple benefits without any kind of delay.
Hence, depending on the OPC one person company in Bangalore is considered to be a great idea for people due to the above-mentioned points which justify this claim.