-
October 10, 2018
One Person Company is a new concept. Earlier if you wanted to set up a private company, you needed at least two persons because the law mandated a minimum of two shareholders. So, for the person wanting to venture alone, the only option was proprietorship, which is not legally recognized as a separate entity. While doing business as a proprietorship firm, the personal assets of the proprietor can be at risk in the event of failure, but this is not the case for a One Person Company, as the shareholder liability is limited to his shareholding. Following are the key advantages:
- Lesser Compliance Burden
- Liability Limited to the value of shareholding
- Distinct identity from its owner
- Personal assets of Owner not affected
- Easy decision making
- No Statutory Requirement of Holding AGM
- Compulsory Nomination
About EbizFiling.com :
EbizFiling.com is a motivated and progressive concept conceived by like-minded people, which helps small, medium and large businesses to fulfill all compliance requirements of Indian Laws.
Get in touch for a free consultation on info@ebizfiling.com or call 9643203209.
About Ebizfiling -
December 23, 2024 By Team Ebizfiling
Top 5 Best Business Ideas with Low Investment Starting your own business doesn’t always require a lot of money. In India, many small-scale business opportunities can be started with a low budget and have the potential for significant growth. If […]
December 21, 2024 By Team Ebizfiling
Everything You Should Know About MSME Registration Certificate The Micro, Small, and Medium Enterprises (MSME) sector is a vital pillar of the Indian economy. It fosters innovation, generates employment opportunities, and acts as a critical supplier for larger industries. Recognizing […]
December 23, 2024 By Team Ebizfiling
Top Profitable Transport Business Startup Ideas The transport industry has always been a cornerstone of global commerce and daily life. Whether it’s moving goods or people, transportation plays a vital role in connecting businesses and individuals. If you’re considering venturing […]