One Person Company
Usually considered as an improvised version of sole proprietorship, One person company is a boon for people who single handedly want to promote and grow their businesses while having the advantages of a corporate.
• Single promoter and control
• No minimum capital requirement
• Compulsory conversion to convert into Private Limited or Public Limited Company on hitting a
turnover of Rs. 2 crore or a paid up share capital of Rs. 50 Lakh.
• Lesser Compliance