Various people are into the business of different products and services. Business can be small or big but is very important to get it registered under the government Companies act, 2013. There are many types of companies for which the registration can be done like One person company, a Limited liability partnership, a private company, etc. different companies have a different style of working and process of registration. The type of company the person or the group of people wants to register depends upon their interest in working.
If you are the person that wants to open your own One person company then you need to consult the experts and ask them about the OPC company registration fees in Bangalore. If you are interested in opening, then different benefits are provided to the person. Let’s have a look at them.
- Compliance burden: This type of company will include” Private Limited Company” in its definition. So it is very important to comply with all the provisions applicable to private companies. No doubt there are very few but still, they need to be fulfilled.
- Organized sectors of Proprietorship Company: It is a version of a private company having an organized sector. Most of the small and medium scale companies might enter into this type. The more organized the OPC is more it will get favorable banking facilities. In this the liability of the person is limited.
- Minimum requirements: There is the requirement of one shareholder, one director, and one nominee. The directors and the shareholder can be the same and there is no requirement of such a minimum requirement of capital.
- Legal status and social recognition: If you get your company registered as a one-person company, it can get recognition on a global scale. This will give the surety to the customers and suppliers that the work of the company is authentic. Once the company gets the Private limited after the name, they can start enjoying the corporate status in society. This will attract the workforce, to come and join the company to take them to the heights of success.
- Easy to get loans from banks: Once the person gets themselves registered under the One person company. It becomes easy for him to get the loan granted from the banking institutes. Even the government is coming up with new schemes that are highly beneficial for the start-up. So it is better to get register to grab all the benefits from banking institutes.
- Complete control of the company: Having the One person company will give the person the complete hold on every work of the company. No doubt the directors can be appointed in the company but there is no need to give the share to any of them.
So if you are interested in getting all these benefits of having one person company. So it is very important to get consultation services from experts that can give the best guidance to one person company registration cost in Bangalore.