One Person Company (OPC)
One Person Company (OPC) is a form of business thereby carrying on the business in the Sole Proprietor form of business under the Companies Act, 2013. One Person Company is a perfect mix of Sole Proprietor and Company form of business.
Advantages of One Person Company (OPC)
- One person company has better benefits than private limited company.
- Limited Liability
- Easy Funding
- Minimum and maximum 2 persons as Director and Nominee Director
Frequently Asked Questions:
Which is better OPC (One Person Company) or Sole Proprietorship?
OPC is a better option, you can choose as it has limited liability limited to the amount invested in the business by the owner.
Can OPC be converted to Private Limited Company?
Yes OPC can be converted into Private Limited company and also Private limited can be converted into OPC. While converting into OPC, paid up share capital of Private Limited company should not exceed Rs. 50 lakh and also should not have average turnover more than Rs. 2 crore at the time of conversion.