A Proprietorship Firm and OPC (One Person Company) both are the entities where a person is looking for the business without interfere of any other person such as Partner or co-founder.
Sole Proprietorship Firm is form of organisation, where the proprietor (owner) has the freedom of Policy and Decision making without interference of Third Parties and is best suitable for small businesses & unorganised sector. Here, the identity of Owner and Firm is not separate. The liability of the owner is unlimited and extends to the personal assets of the owner.
The One Person Company (OPC) is a type of Private Limited Company with higher flexibility. There is only one member (shareholder) in the OPC and one Director. Here, both shareholder and Director can be same person; hence control on business will not be diluted. The identity of both member and company is separate and the liability of the member is limited. OPC is best option for a single promoter to get entry in Corporate World with higher flexibility compared to other corporates.
Both organisations are suitable based on the requirements and nature of the business. You may consult our professionals at 89806 85509 or drop an e-mail at firstname.lastname@example.org for free to know which is the best suitable organisation structure for your business and requirements.
LegalWiz.in can help you to establish your Business as Sole Proprietor as well as One Person Company at affordable prices in simple and hassle-free manner.