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There are many online companies that can register your company online as well as offline but Rajstatup is a trustworthy company that commits the clients to all the processes legally and can get your company certified in a limited time. Rajstartup updates the data in real-time and track your order of certification and also can keep you update.
The One Person Company is a company in which there can a single member optimizing and working on his company. All shares of the company are under a single person and other benefits and advantages are listed below:-
The One Person Company can own properties such as building, godowns, etc and it is considered as a legal entity.
In the One Person Company, the ownership of the person can be easily transferred to the other person based on the holding of the shares of the individual.
The liabilities given by the One Person Company are limited or less to the invested amount.
The One Person Company is better than a Sole Proprietorship where the company ceased on the death of the proprietor. In the case of One Person Company, the entity can continue to exist if the nominee director takes over on the company.
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One Person Company is the only type of corporate entity that can be started and operated by a single promoter with limited liability protection in India. A corporate form of legal entity in One Person Company ensures that the business has perpetual existence and easy ownership transferability..
A company has 'perpetual succession', meaning uninterrupted existence until it is legally dissolved. A company being a separate legal person, is unaffected by the death or other departure of any member and continues to be in existence irrespective of the changes in ownership..
Ownership of a business can be easily transferred in a company by transferring shares. The signing, filing and transfer of share transfer form and share certificates are sufficient to transfer ownership of a company. In a one person company, the ownership can be transferred by altering the shareholding, directorship and nominee director information..
Banks and Financial Institutions prefer to provide funding to a company rather than partnership firms or proprietary concerns. However, a one person company cannot issue different types of equity security, as it can only be owned by one person at all times..
A company being an artificial person, can acquire, own, enjoy and alienate, property in its name. The property owned by a company could be machinery, building, intangible assets, land, residential property, factory, etc., Further; the nominee director cannot claim any ownership of the company while serving as a nominee director..
Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of up to 20 years..
The benefits of the One Person Company are listed below:-
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