One Person Company In India

1. One Person Company In India Anybody thinking of starting up a company as an entrepreneur making a choice of going into business all by himself can set up a one person company. Quite often an entrepreneur would decide to start a one person company so that he or she could easily keep the quality and decisions regarding the company well under control. All these kinds of single entrepreneur often work in solitude. These entrepreneurs are also often referred to as free agents or freelancers or self employed individuals. They are sole proprietors or home based business owners. However not all will be home-based and will have an office for operations too. It all depends on the type and field of work they are in. if you wish to get more details then contact our Swarit experts who can guide you properly all the way. Being a one person company doesn’t always mean that they will be on their own. These individuals could plan on collaborating with other businesses or think of building alliances with other entrepreneurs or consultants building a network to form their work base in the business market. Having an outsource or basic work or a certain project related to their work is the closest they could get to have something like a staff. Businesses that run as one person company have their owners meeting certain characteristics following some of them:- They have their desire of having certain personal freedom which allows for them to live a certain lifestyle of their choice. They have a drive and passion for implementing their business plan and fulfil their personal dreams through it.

2. They have their strong will to go that extra mile to succeed. They are extremely usually passionate about what they do. They are absolutely committed to their ventures. They are simply comfortable working independently and along with the use of above the Average technologies like the internet or the use of voice over IP also known as VOIP. What is One Person Company Registration? The concept of One Person Company or OPC introduction is a strong improvement over sole proprietorship as it provides legal recognition. It gives an individual, the sole power of controlling and promoting his work and remarkably reduces the compliances as compared to other models like private limited company. This one person of the company will be the only director as well as its own shareholder. This is of course a nominee director in some cases, have no power over the company and decisions unless the original director has become incapable. So in that case, there would not be any chance for raising any equity funds or for offering any kind of options for employee stocks. Moreover if the one person company hits an average of a 3 year turnover of a sum of Rs 2 crore and also has paid up the capital of over Rs 50 lakh then this one person company has to be turned into a private limited company or a public limited company within the time period of six months. Source by: http://articlescad.com/article/show/16814