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One Person Company Registration

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  • One Person Company Registration

One Person Company Registration

One of the important decisions of the entrepreneur is choosing the business entity, even though they are aspiring to start their own unique business, they might not have an idea about selecting the entity which supports their vision on the business. It is much very much essential to discuss your business plan to the professionals and the experts which will guide and enroute you to the better journey. One person company holds lot of business benefits to the individuals and the entrepreneurs who wish to have a standard name in the business dictionary, and achieve their targeted goals. It requires only one founder to form a company.

Characteristics of One Person Company:

There is a need of prior mention about nominee, if the shareholder meets any unfortunate things, the nominee can become the director and he can take charge of the company. With a clear note, that the nominee should not be a minor.

  • Maximum of fifteen directors is possible.
  • While incorporation, it will have the benefits as same as like private companies.
  • One person company can have only one director and shareholder. It doesn’t require any huge volume of members to incorporate a company.
  • There is no need of showing any cash flow statements; instead they can submit the copies of profit and loss account, balance sheets.
  • There is no need of holding any annual general meetings; it’s purely depending on his wish to conduct. But the board meeting need to be conducted on every half of the calendar year.
  • It requires minimum capital investment of rupees One Lakh. The word one person company need to be mentioned at the end of the company name In order to distinguish it from other kind of companies.

Document required for One Person Company:

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