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One Person Company in Asia and Europe: A Comparative Study

The introduction of One Person Company (OPC) has revolutionized the concept of Company operations around the world. Many countries have witnessed significant growth in their economy and Gross Domestic Products (GDP) as a result of the development of OPC. The concept of OPC received much reception be...

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Main Authors: Almasabi, Salah Mohammed N, Mohd Ali, Hasani, Alam, Hazlina Shaik Md Noor
Format: Article
Language:English
Published: UUM Press 2023
Subjects:
K Law (General)
Online Access:https://repo.uum.edu.my/id/eprint/29687/1/UUMJLS%2014%2002%202023%20607-631.pdf
https://doi.org/10.32890/uumjls2023.14.2.8
https://repo.uum.edu.my/id/eprint/29687/
https://e-journal.uum.edu.my/index.php/uumjls/article/view/15102
https://doi.org/10.32890/uumjls2023.14.2.8
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spelling my.uum.repo.296872023-08-14T08:33:53Z https://repo.uum.edu.my/id/eprint/29687/ One Person Company in Asia and Europe: A Comparative Study Almasabi, Salah Mohammed N Mohd Ali, Hasani Alam, Hazlina Shaik Md Noor K Law (General) The introduction of One Person Company (OPC) has revolutionized the concept of Company operations around the world. Many countries have witnessed significant growth in their economy and Gross Domestic Products (GDP) as a result of the development of OPC. The concept of OPC received much reception because it allows one person to operate a company that has a corporate personality distinct from him. This paper is a comparative study of OPC practices in Asia and Europe with focus on legal entity, incorporation procedure, minimum share capital, appointment of a nominee and conversion of OPC. By using the doctrinal data gathering approach, the researchers examine the relevant journals, articles, books, papers, and Internet sources with a view to achieve the objective of the study. In choosing the sample States, the article further uses the GDPs as a yardstick for selecting the participating countries. The reason for adopting the GDP as the criterion is because it provides an economic snapshot of a nation which is used to calculate the size of an economy and its growth rate. The findings of the research paper reveal that the economies around the world were boosted since the inception of the OPCs. Countries like the United Kingdom, Singapore and China witnessed 3.5 percent growth in their economy since inception of OPCs. Establishing and operating Businesses have become easy because the single shareholder need not go through the tedious process of documentations, getting minimum requirements for partners as is applicable for other forms of company operations. UUM Press 2023 Article PeerReviewed application/pdf en cc4_by https://repo.uum.edu.my/id/eprint/29687/1/UUMJLS%2014%2002%202023%20607-631.pdf Almasabi, Salah Mohammed N and Mohd Ali, Hasani and Alam, Hazlina Shaik Md Noor (2023) One Person Company in Asia and Europe: A Comparative Study. UUM Journal of Legal Studies (UUMJLS), 14 (2). pp. 607-631. ISSN 2229-984X https://e-journal.uum.edu.my/index.php/uumjls/article/view/15102 https://doi.org/10.32890/uumjls2023.14.2.8 https://doi.org/10.32890/uumjls2023.14.2.8
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutional Repository
url_provider http://repo.uum.edu.my/
language English
topic K Law (General)
spellingShingle K Law (General)
Almasabi, Salah Mohammed N
Mohd Ali, Hasani
Alam, Hazlina Shaik Md Noor
One Person Company in Asia and Europe: A Comparative Study
description The introduction of One Person Company (OPC) has revolutionized the concept of Company operations around the world. Many countries have witnessed significant growth in their economy and Gross Domestic Products (GDP) as a result of the development of OPC. The concept of OPC received much reception because it allows one person to operate a company that has a corporate personality distinct from him. This paper is a comparative study of OPC practices in Asia and Europe with focus on legal entity, incorporation procedure, minimum share capital, appointment of a nominee and conversion of OPC. By using the doctrinal data gathering approach, the researchers examine the relevant journals, articles, books, papers, and Internet sources with a view to achieve the objective of the study. In choosing the sample States, the article further uses the GDPs as a yardstick for selecting the participating countries. The reason for adopting the GDP as the criterion is because it provides an economic snapshot of a nation which is used to calculate the size of an economy and its growth rate. The findings of the research paper reveal that the economies around the world were boosted since the inception of the OPCs. Countries like the United Kingdom, Singapore and China witnessed 3.5 percent growth in their economy since inception of OPCs. Establishing and operating Businesses have become easy because the single shareholder need not go through the tedious process of documentations, getting minimum requirements for partners as is applicable for other forms of company operations.
format Article
author Almasabi, Salah Mohammed N
Mohd Ali, Hasani
Alam, Hazlina Shaik Md Noor
author_facet Almasabi, Salah Mohammed N
Mohd Ali, Hasani
Alam, Hazlina Shaik Md Noor
author_sort Almasabi, Salah Mohammed N
title One Person Company in Asia and Europe: A Comparative Study
title_short One Person Company in Asia and Europe: A Comparative Study
title_full One Person Company in Asia and Europe: A Comparative Study
title_fullStr One Person Company in Asia and Europe: A Comparative Study
title_full_unstemmed One Person Company in Asia and Europe: A Comparative Study
title_sort one person company in asia and europe: a comparative study
publisher UUM Press
publishDate 2023
url https://repo.uum.edu.my/id/eprint/29687/1/UUMJLS%2014%2002%202023%20607-631.pdf
https://doi.org/10.32890/uumjls2023.14.2.8
https://repo.uum.edu.my/id/eprint/29687/
https://e-journal.uum.edu.my/index.php/uumjls/article/view/15102
https://doi.org/10.32890/uumjls2023.14.2.8
_version_ 1775625717288009728
score 13.211869

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