OPC & Pvt. Ltd. Company Incorporation Checklist
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What are OPC & Pvt. Ltd. Company?
Private Limited Company is a type of company that has limited liability and provides legal protection to its members (shareholders). These companies are governed by Companies Act 2013, along with the rules and regulations stated in the Memorandum and Articles of Association of the Company.
As per Section 2, sub- section 62 of Companies Act 2013, One Person Company means a company which has only one person as a member and a nominee. One Person Companies have lesser compliance requirements.
Takeaways from this checklist
- User gets a list of documents required for incorporation of a Private Limited Company and OPC.
- User gets information of incorporation procedure.
- Link for company and OPC formation procedures are given.
Benefits of setting up Private Limited Company or OPC
A lending institution prefers a private limited company or OPC over a non-registered partnership firm.
It is a separate legal entity, and its existence is independent.
Transfer of shares amongst shareholders is easy.