One person company(OPC)

One person company(OPC)

A One person company (OPC) is a company that has only one person as its member. An OPC is effectively a company having only one shareholder as its member. OPC holds several advantages of companies comparing to sole proprietorship even if both entity have one person owing the business. OPC is a separate legal entity from its promoters and has its own assets and liabilities. OPC has to mention one nominee (not a minor) while registering the company. OPC was introduced in India under The Companies Act 2013