The OPC or the one person company is something that has come into the existence from 2013 by the act of government in reality. You are permitted to start your own company single-handedly. The single-handed decisions can be taken fast and will be implemented fast. The OPC can be converted to Private limited. All the regulations of Pvt Ltd are applicable to OPC. OPC has another meaning of processing control. It is one of the software that allows the software to connect with industrial hardware devices.OPC business has been introduced in India to praise and promote the single-handed business.
You can apply for the OPC
One can apply for the OPC. It is very helpful under the guidance of Government of India. It is new kind of business where a single entrepreneur can maintain corporate entity with limited accountability protection. There are companies who are offering the help to register for OPC.
OPC has advantages
Single promoter– It is nothing better than any good. You don’t have to take permission or discuss things before promoting your brand. The way and instructions will come only from you. You will be the sole owner and responsible person to extend your business. You will reap the fruit and get the benefits.
Uninterrupted existence-There are circumstances when the partner or co-owner died, leaving the company, try to harass the company policies, due to the mutual understanding or shareholder percentage. But the OPC will not break down until the single-handed owner wants it to be. It means once the company comes to the forefront, it will have an uninterrupted existence.
Easy transferability– during the time of any kind of crisis – the owner being one single user – can access the accounts and furthermore can transfer funds as per his or her needs. The easy transferability will help the business to get assistance from the Bank or other financial institutions. This is the best means via which one can get the independence of the same and often make the decision single handily and freshly.
Borrowing facility-You may need a lump sum amount. You have to apply for the loan. Your partners may defy or deny. But As an OPC, you are ok to get the money. In the time of borrowing, you will be able to communicate on your own and convince the person easily.
Owning property-You can buy property, land, intangible assets, machinery by the name of the OPC. It is like an artificial person. You can alienate, acquire, own or sell properties by the name of OPC. There will be no nominees.
Note few rules and regulations that are apt
One can well change the nominee by applying INC-4
The Simplified Proforma for Incorporating Company automatically will lodge the name within 20 days of the Running service.
You are doing business. You are running it for your good and to develop it to serve others too. OPC will help your dream to fulfil. This is the best and another alternative method of the company formation.