The
revolutionary new concept of 'One Person Company' (OPC) has been introduced by
the Companies Act, 2013. One Person Company is defined in Sub-Section 62 of
Section 2 of The Companies Act, 2013, which reads as follows:
'One
Person Company means a company which has only one member'
An
OPC can be incorporated with only one shareholder, the same needs to appoint a
nominee, both should be residents of India. On incorporation, OPC becomes
active and comes in existence as long as the annual compliances are done on a
regular basis. Otherwise, the OPC will become Dormant and is liable to be
struck-off from the register after a period of time. On being struck off, the
same can be revived for a period of upto 20 years. There is no statutory limit
prescribed for a minimum contribution to start an OPC.To get started Click Here. For more info contact info@preethamandco.com
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