The concept of One Person Company in India was introduced to give a boost to entrepreneurs who want to start their own venture by allowing them to create a one person company. There is no intervention from any third party , it makes it more beneficial. So, if one who want to start up their own business or company then they don’t need to be worry about all the complex and tedious processes.
One Person Company (OPC) also help effectively to increase the overall economy of India. More and more Entrepreneurs are coming up and setting up their business, it makes it more beneficial. One Person Company is a new concept in India. It impacts on economy and development of country which is expected. It gives opportunities to many and bring creative minds in front of people. So, if you want to start up your own business or Company then you don't need to be worry about complex and tedious processes.
Advantages of One Person Company (OPC):
One member is required Not affected by death of person or change in ownership Easy to set up and maintain Limits the liabilities of its member Less paperwork is required Can act as Stockbroker Not many compliances