With shorter product cycles, rapid innovation & mergers contributing to constant change mission.

One person company is a company that has only one active person as its member. Further members are nothing but subscribers to its memorandum of association or its shareholders. So, a One-person Company is a company that has one shareholder as its member.

Such companies are created when there is only one founder or promoter for the business or the enterprise. Entrepreneurs whose businesses lie in early stages prefer to create One Person Companies instead of sole proprietorship business because of many advantages that One Person Companies offer.

We at AAATechs help Entrepreneurs to start their own business as a single person and guide them. AAA Techs Services Pvt. Ltd. also provides counseling services to our clients about necessary things.

A single person can form a One Person Company by entering or subscribing his name to the memorandum of association and fulfilling other requirements mentioned in the Companies Act 2013. Such memorandum should state details of a nominee who shall become the company's sole member in case of the original member dies or he is not capable of entering into contractual relations.

The advantage of having One Person Company is that it will be considered as a separate legal entry. In the eyes of law, the company is like a person having a common goal and never-ending succession.

One Person Company will have its own separate property as it has its own identity and functions as a separate legal entity. It is easy to get bank loans in One Person Company. Before sanctioning funds most of the banks insists on converting Entrepreneurs into One Person Company’s.

In the case of absence/departure/disability of the sole person, the nominee should be replaced with the appointment of another person as the director. If there is demise/death of the director the nominated or the elected director will be managing the works till the date of company’s devolution of stake to legitimate legal heirs of that member.

Requirements for starting a One Person Company:

- It will require at least one shareholder.

- It will require minimum one nominee.

- It will require a director.

- Shareholder and director can be the same person.

- There is no limit of minimum share capital that is required, they can start without any share capital.

- A letter will be fixed to One Person company’s name to differentiate One Person Company from other Companies.

AAATechs will always be there with our clients helping, guiding and counseling them through their journey. We try to deliver the best service possible in order to meet the expectations and to give better than our clients expect throughout the whole process.