"One Person Company" means a company which has only one person as a member, OPCs are the best option for sole proprietor businessmen, it provides company status to business of single entrepreneurs which is more recognizable between Banks, FIs, Suppliers and Buyers.OPC allow proprietors to register a corporate entity with limited liability protection. Idea of OPC was introduced in Company Act, 2013 to provide ease of business to single proprietors and entrepreneurs by allowing them to form a single person corporate body. In a OPC there can be only single member and it give full control to owner.

OPC provides flexibility to owner as it can converted into a Private Limited Company in future. Because much public stack is not involved, many relaxations also have been granted to OPC in compliances.

The concept of OPC also beneficial for foreign entities to start a business in india, as in Private Limited Company the need to appoint a minimum of two nominees even it is a wholly owned subsidiary. Though OPC provides ease of business to single proprietors, it does have some limitations. For instance every OPC must have a resident director on its board and also required to nominate a nominee who will become the owner in the case of death of present owner. A OPC must be converted into a private limited company if it cross an annual turnover of Rs. 2 cr.  

Registration and operations of One Person Companies in India are regulated by Ministry of Corporate Affairs, Companies Act, 2013 and Rules framed thereunder. Lawfox provides you complete professional services related to incorporation of One Person companies throughout India, our experts are committed to help you in company incorporation process and consultancy regarding Incorporation.