Benefits of OPC Registration
- Legal identity
OPC registration in Bangalore has its own legal identity which is separate from its member.
- Easy Conversion
Paper work is less, it’s easy to convert an OPC to other types of business structures
- Minimum Capital not required
The firm can be started within the capacity of the sole promoter.
- Easy to Get Loans
Banking and financial institutions prefer to lend money to this type of firm rather than proprietary firms.
- Social Recognition
Popular business structure of one Person Company. So it gives sense of confidence in business for a customers.
- Tax Rate
In OPC registration, the tax rate is 30% like the private limited company on all profits.
- Easy Return Filing
In OPC, the annual returns can be filed easily along with the signature of the director. The firm secretary’s signature is not required.