#StartUp Accounting Gyaan: Get ready to follow your dreams//Part 2

#StartUp Accounting Gyaan: Get ready to follow your dreams

Part 2: Legal Structures to Start your business:: One Person Company (OPC)

  In our last edition we had discussed about the most basic form of Company Registration i.e. Proprietorship Firm/Partnership Firm (http://ca4you01.blogspot.in/2016/02/startup-accounting-gyaan-get-ready-to.html)

This edition will focus on the newest kid on the Block i.e. One Person Company (OPC) which was introduced for people who prefers going solo but are looking for something more serious than a 'basic' proprietorship firm.

WHY OPC?
One Person Company (OPC), which was launched in 2014 to provide a better platform for individuals who wish to have a business with better credibility than a proprietorship firm. Apart from giving single promoter full control over the company, OPC also limits the liability of the owner. OPC has no chance of raising equity funding or offering employee stock options. OPC can be converted into Private or Public Limited Company.

Advantages:
Liablity: Scared of implication? Don't Worry! Director's (Owners) Liability is Limited in case of any defaults
Future Options: Have plans for Future? Can be converted into Private Limited Company whenever required
Credibility: Big Corporates wary to do business? Better credibility than a Proprietorship company
Tax Advantage: Want to be Tax efficient? More Tax Advantages than a Proprietorship company

TIME TAKEN:

 10 Working Days (Appx)

STEPS TO REGISTER  

Step 1: DSC for 1 director + DIN for up to 1 director
Step 2: Name Confirmation from ROC
Step 3: MOA/AOA Drafting
Step 4: Certificate of Incorporation
Step 5: PAN & TAN
Step 6: Beginning is Half Done...


COST: 

Rs 12,500/- in Delhi-NCR

NUTSHELL:

Best suited for Indivdiuals who are sure of their idea but not sure about working alone or going with partner (s). 

Hope this article was informative. For more info visit:http://ca4you.in/company_registration.php#tab5

 Also call us at +91 8447265465 or mail us on vivek@rrs-group.in for any further query

In Part 3, where we will discuss LLP