As defined under Section 2(62) of the Companies Act, a One Person Company is a company that has only one person as to its member. The article briefs about what are the One Person Company Compliance that is to be met.
One Person Company is defined as a corporation with just one person as an exclusive member in Section 2(62) of the Companies Act, 2013. We'll go through all the Benefits of a One Person Company in this blog.
One Person Company formation is done by incorporating it under the Companies Act, 2013 and this gives legal recognition to such companies. According to Section 2(20) of the Companies Act, 2013, a “company” is considered to be incorporated under this Act or under any previous company law.
The concept of One person company in India was first introduced in the Companies Act of 2013 to simplify the complex procedures and compliance requirements associated with other types of business models.
Anyone who wishes to transact in foreign currencies must first obtain an FFMC License in India from the Apex Bank or RBI. The holders of such a license are permitted to buy foreign currency from NRIs (Non-Resident Indians) and sell it to Indian tourists traveling overseas for business.
Digital Signature Certificate, like any physical document, provides information about the subscriber of the certificate. This helps the transfer of a more secure and encrypted document. In this article, we will thoroughly discuss about how to apply for Digital Signature Certificate in India.