- The One Person Company (OPC) was recently introduced as a strong improvement over the sole proprietorship combining the benefits of a sole proprietorship and a company form of business.
- Only one person who will act in the capacity of a Director as well as a shareholder.
- It does away with the hassles of finding the right kind of co-partners
- If an OPC hits a turnover of over Rs. 2 crore or has a paid-up capital of over Rs. 50 lakh, it must be compulsorily converted into a private limited company or public limited company within next six months.
Time frame:
3 to 7 working days (under SPICE route)
