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Proprietorship is the simplest form of setting up a business, with minimum registration or formality requirement. Proprietorship is often termed as One Person Company since it is a one-man/woman show and has no partners or investors. Some of the key features of this type of business setup can be listed as follows:- •          No capital threshold to start In order to be a private limited or an LLP, you might have a minimum or maximum capital limit. However, for a Proprietorship Firm , there is no such ceiling for a minimum or maximum amount of capital. •          Legal entity concerns The proprietor and the proprietor firm are considered to be a single entity in the eyes of law. Any liability on the proprietor firm is a direct liability for the proprietor. The same is true with respect to the assets as well. For income tax purposes or Proprietorship Firm Compliance purposes, ...

As per Section 2(62) of the Indian Companies Act, 2013, OPC is a company that has only one person as to its member or shareholder. Neusource Startup Minds offers several packages for One Person Company Compliance . Contact us to know more about our services. Nature of OPC: OPC can only be enrolled as a private company, which means that all prerequisites and required stipulations that are relevant to a private company will be applicable to an OPC. Who can Incorporate OPC? OPC can be subsumed by a natural person who is resident of India. Nonetheless, one person cannot manifest more than one OPC. Members and Directors in an OPC: The least and the highest estimate of members in an OPC can be only one, an individual being a bondholder of OPC is regarded as the First Director of the OPC until the director is duly appointed by the member. Nominee in an OPC: An OPC must have only one person as a nominee. Board Meetings and AGM: OPC is considered to have adhered to Sec...