One Person Company under Companies Act, 2013




One Person Company (OPC) is a new concept introduced for the first time in India under Companies Act, 2013. With the introduction of this concept, it is now feasible to start a company having only one person as a member.  It is a considerable shift from existing concept where at least two persons were required to incorporate a company. OPC is best suited for start-up ventures, propriety businesses etc. since it offers a business platform which allows absolute control over all business affairs with limited liability. 

The Companies Act, 2013 provides liberal regulatory framework for an OPC to encourage sole-proprietors to corporatize their business.