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One Person Company (OPC) was a concept that was introduced by the Companies Act, 2013. An improved version of a sole proprietorship, an OPC allows for a single shareholder and director. In an OPC, a single promoter gets total control over the business, reducing his or her liability for contributions to the operation and ensuring the company's eternal life and straightforward ownership transferability. There are less compliance requirements for one-person companies registered in India than for other types of businesses. Due to the absence of documentation and the fact that an OPC is controlled by a single person, it is easy to manage and sell. OPC can be classified as an unlimited company, a limited company with a guarantee, or a limited company with share capital. Please get in touch with LegalRaasta if you need professional assistance with any OPC-related tasks since we provide comprehensive One Person Company registration services across India.
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