One Person Company is a new concept in India, introduced with the Company Act 2013. In India, a One Person Company is formed by a single person.
A single person could not form a company prior to the implementation of the Companies Act of 2013.
An OPC combines the characteristics of a corporation with the advantages of a sole proprietorship.
Previously, if a person needed to start a business, he or she could only do so as a sole proprietorship.
A company can be formed with just one director and one member, according to Section 2 (62) of the Companies Act 2013. In India, a One Person Company registration is a type of entity with fewer compliance requirements than a Private Limited Company.
Under the Companies Act 2013, a One Person Company Registration in India can be obtained with only one member and one director. The Director and the member may be the same person. An individual, including non-resident(subject to certain conditions), can register an OPC in India here.
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