Are you an entrepreneur with a business idea and rearing to go but have misgivings about putting your personal assets at risk of business loss and attachment by Creditors and compliance issues? There is a new solution.
The Companies Act, 2013 has created a new form of business titled ‘One Person Company’. Such a legal form of business is available in developed Countries.
1) The ’’OPC’’ is an entity distinct from its single member and enjoys perpetual existence.
2) It offers the entrepreneur complete control over the affairs of the business.
3) It provides the entrepreneur protection of his personal and family assets from being attached by Creditors in case the ‘‘OPC’’ is unable to meet its obligations to creditors.
4) The assets of the ’’OPC’’ alone are exposed to business risk not the personal assets of the Single Member or the…
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