• 9051 NG-Associates Incorporate

Proprietorship to OPC

One person owns and operates a sole proprietorship. Sole proprietorships are attractive to small investors because they are relatively easy to start. Moreover, the proprietorship owner owns all the profits the company makes, but the business owner is also held directly responsible for any losses, debts, or violations the business commits. Starting a One Person Company eradicates all the above problems and gives more advantages for the small traders, businessmen and entrepreneurs, as the registration and maintenance cost for the company is minimal. In comparison to a sole proprietorship, a one-person company provides more advantages such as limited liability, legal status, corporate identity, flexibility in management, easy banking, and lower tax burdens..