Though a One Person Company allows alone Entrepreneur to operate a corporate entity with limited liability protection, an OPC does have a few limitations. For instance, everyone Person Company (OPC) must nominate a nominee Director in the MOA and AOA of the company – who will become the owner of the OPC in case the sole Director is disabled. Also, a One Person Company must be converted into a Private Limited Company if it crosses an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year … Continue reading ONE PERSON COMPANY