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The entire managerial control is handled by a single person there are hindrances from the middlemen, which makes it easy to manage the business and reduces the RoC (Registrar of Companies) filing and offers more flexibility and tax savings. Even if the business does not run properly and end up in a situation where they are unable to pay the debt, the business owner need not worry about selling their property, home, vehicle, jewelry or any other possessions because of the limited liability involved in the legal structure.
The One person Company Registration process might involve the filing of documentation, legal and financial paper works which might be a tiresome work for the entrepreneurs and the business owners. To reduce the burden of dealing the financial and legal hassles, they can hire a financial consultancy service firm that can complete the process in a swift. The Uptra Consultancy service is among the servicing firms that help in managing and maintain the legal structure and paperwork of the company which leads to a successful business.
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About the Author:
Anand Rajendran, CEO of Uptra.in, a leading provider of legal services, including company registration. He is the Head of Communications at Uptra Consultancy Services, India's largest online legal services facilitator.