7 Advantages - Why your Company to be an One Person Company | Company Registration in Chennai
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Advantages of Being a One Person Company than a Proprietorship Firm
What is an One Person Company
As per provision of section 2(62) of the Companies Act, 2013 defined (62) “one person company” means a company which has only one person as member.
For a normal private limited company, it requires a minimum 2 members, this is how a one person company differs from a private limited company. As similar as a proprietorship, it just requires a one member, there cannot be anyone else to share the same.
How one person company is more preferable as compared with Proprietorship
1. Nominee: For creating an OPC, you need to appoint a nominee. On the demise of the opc member, the nominee will take charge of the company, so the company will exist continuously. The nominee
2. Independent legal entity: OPC is considered as a separate Legal Entity; that is to say the company and the owner of the company are considered as two separate bodies. But whereas the Proprietorship firm is not a separate entity, both the proprietor and the form are considered as one. Not even a separate pan card is available for a proprietorship firm.
3. Limited Liability: If the One Person Company undergoes a financial distress because of any reasons, the personal assets of the owner or the member shall not be utilised to pay off the debts of the Company as the liability of the person is limited to its share. But whereas the liability of the Proprietorship firm is un limited
4. Tax Benefits: The proprietor needs to tax first and then utilize the profit for his luxury expenses. But whereas the One Person Company can buy the luxuries such as a Car for the utility of the director and a rented bungalow for the stay of its Director and corporate tax can be paid after deducting the expenses.
5. Separate Property: As the OPC is a separate legal entity, it can hold property on its own. The OPC will become the owner of its assets, and the members will not have any insurable rights in the assets of the company. But whereas the Proprietorship cannot hold a property, either movable or immovable
6. Social Recognition: As One Person Company is a form of Limited Company, it has a big recognition, so the customers and vendors easily build credibility over the company. But whereas the Proprietorship is a normal type of business ownership.
7. Easy Loan from Bank
Banks prefer to lend money to the company, as this is formed by the Companies Act.But a Proprietorship firm faces a huge difficulty to get loans for business through banks.
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So it is ideal to register your startup as a One Person company rather than a proprietary firm.
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Very thank you sir
Thank you for your immediate response sir.
Very useful information.thanks for sharing
Sir very very useful information I am from bangalore It was a Great feeling hearing your knowledgeable words
Bro please put a vedio of how to start a spcae company
Super advice sir, grow indian
Excellent explanation sir👍👌👏
@LeIntelligensia
3 жыл бұрын
Thanks a lot bro
Superb sir
Hi sir, can you please put an video about management roles for a newly startup company
How to start a space company
Excellent sir
@LeIntelligensia
3 жыл бұрын
Thanks a lot bro
Kindly share what is differents between listed and non listed company,if we asked loan,people are saying like the same...
Share holders yaga find pannalam
It was excellent explanation, It possible to start OPC for investment in stock market. Kindly advise sir
நன்றி சார்
@LeIntelligensia
3 жыл бұрын
🙏
30% income tax😮
One director or single person can run multiple business with different company name in opc? It is possible.
How to register msme for one person company
Sir pls check on property buying point on what you said A sole proprietorship can buy a vechile in his firm name
hai sir, MEMS licence vanguna address ah change Panna mudium ah sir becoz i have changed my company to other place
Yarachum comments la keta video upload panniga.andha link aah comments la kuduka mudiyuma sir
I'm running a proprietorship firm is possible to register separate OPC without disturbing that firm.. Is possible to run OPC & PVT/LLP same person
@LeIntelligensia
2 жыл бұрын
Yes... Possible
Can you please explain and the meaning of retirement by rotation in company act in tamil
@LeIntelligensia
2 жыл бұрын
Sure... Will make it shortly.. Thanks for you support
@timplesoniya6451
2 жыл бұрын
@@LeIntelligensia Tq sir
I would like to start chits & finance one person company please advice me
Can OPC invest in stock market ?
@LeIntelligensia
5 ай бұрын
Yes possible
@MultiJaswanth
5 ай бұрын
@@LeIntelligensia i have seen in online it shows like one person company cannot invest in Stock Market.
Company start pantrathuku munnadiye company name la registration panna mudiuma bro...
Hi Sir.. Salaried person OPC start pannalama.. Salary as company income?. for Tax Bednifits.. Say 30L per annum salary vaangura oru aal...
The company should not be anywhere where it is company act details pls bro
Psara licence yeadhukuduka mudiyuma sir.
Old iron scrap private limited company vaikalama
@LeIntelligensia
Жыл бұрын
Yes bro..
Can a opc have more than 1 director
@LeIntelligensia
2 жыл бұрын
Yes, possible
@sarandev4087
2 жыл бұрын
K....Can share holders be more than one pls tell me sir
@LeIntelligensia
2 жыл бұрын
@@sarandev4087 not possible
Hello sir,TVR ரிஜிஸ்ட்ரேஷன் செய்வது எப்படி சார். நான் செக்ஷன் 8 சென்றல் கவர்மெண்ட் மூலமாக பதிவு செய்துவிட்டேன். ஆனால் எனக்கு ஸ்டேட் கவர்மெண்ட் மூலமாக நலவாரிய காட் வாங்குவதற்கு பதிவு எண் தேவைப்படுகிறது அதை எப்படி பெறுவது. ஓட்டுநர்கள் நலவாரியத்தில் இணைக்க வேண்டும். எங்களுடைய அமைப்பு ஓட்டுனர்கள் சங்கம். Pls Reply sir.
@ajithagowtham1218
2 жыл бұрын
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@ajithagowtham1218
2 жыл бұрын
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How much fee for you sir?
Manpower services business panthi sollinga sir
@LeIntelligensia
3 жыл бұрын
Sure bro... Will make it...
Sir I am studying engineering 1 st year Can I start a one person company ????? Is Any initial money need for registration ?????
@LeIntelligensia
3 жыл бұрын
Should have attained 18 years of age
@krishdiycrafts4067
3 жыл бұрын
@@LeIntelligensia two months to 19 sir
@LeIntelligensia
3 жыл бұрын
@@krishdiycrafts4067 yes.. possible then...
@anshasathish4255
2 жыл бұрын
@@LeIntelligensia sir OPC practical fees evlo sir including lawyer and bribe
கொஞ்சம் பொறுமையா சொல்லலாமே . Y this அவசரம்