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FAQ Of One Person Company

Q1. Is it allowed to change registered office of the company after registration?

Answer:- Yes, A company can change its registered office anytime after following a specified procedure. The changed address can be situated within the same state or in a different state from the state in which it was originally registered.

Q2. For small businesses, what are the benefits of an OPC Registration?

Answer:- It provides credibility to business in financial institutions, suppliers, and potential clients. As it makes it easier for companies to get loans at favorable terms from banks or convincing potential clients while entering into deals as companies are trusted more than other forms of business.

Q3. What address to be given as registered office of the company?

Answer:- A registered office is required to hold Annual general meetings, for keeping records and receiving correspondence from all the statutory/government authorities. The registered office does not have to be necessarily owned by the company, it can be on rented premises also. The registered office of the company determines its jurisdiction for registration, for instance, a company with a registered office in Delhi will come under the jurisdiction of Registrar of Companies, Delhi.

Q4. Is One Person Company structure suitable for my business?

Answer:- The One Person Company is typically for small businesses that have turnover limited to Rs. 2 crores only, the promoter may discuss with us the feasibility of this form in the real-life situation of a company. common-question-bottom

Q5. common-question-top What are the responsibilities of a director?

Answer:- The director has been entrusted with the responsibility of managing the company in the best efficient manner. The responsibility of a director depends upon the kind of directorship he holds in the company. For instance, an executive director or a managing director has a greater responsibility than a non-executive director who might hold the directorship as an expert or consultant. A director is liable for misconduct or fraud or if found guilty of default.

About Setindiabiz

Setindiabiz is an organized team of experienced CA, CS, & Lawyers, duly supported by a pool of trained accountants & paralegal staff that provides quality & affordable compliance services to startups & small businesses in India. The views, statements and recommendations expressed in this article or post are only for the sole objective of providing information, and it does not constitute professional advice or recommendation of the company. Neither the author nor the company or its affiliates accepts any liability for any loss or damage arising from any information in this article or any actions taken in reliance thereon.

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