If there is only one promoter/founder, One Person Company (OPC) is the best way to start a company. An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company from of business.
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.
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.
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.
Answer:- The OPC 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.
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.