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    What Is A One Person Company?

    One Person Company (OPC) means a company which has only one member. OPC is one of the significant milestones of the Companies Act, 2013, introduced to encourage self-employment. Basically it is a form of Private Limited Company where a single entrepreneur can avail the benefits of a limited liability mechanism. OPC requires one member and one nominee, who becomes the member of the company in case of the death or any other incapacity of the original member. Unlike a Private Limited Company an OPC does not require minimum 2 members or directors. A sole member is sufficient to incorporate an OPC. An OPC is the best alternative for the entrepreneurs who want to carry a business under a limited liability form without any tie ups with the other members. OPC can be easily converted to a Private Limited Company in future if need arises. 


    Separate Legal Entity

    A company is a separate legal entity from the persons forming it. The ownership can be distinguished from its management unlike in other business forms. Company as a legal entity is capable of owning its funds and other properties. 


    People may come and go but the company continuous to live on forever. Perpetual Succession means the company shall continue to exist even if the member dies or ceases, etc. Changes within the management does not bring any affect onto the identity of the company. The Company shall continue to exist till its wound up in accordance with the provisions of the relevant law.

    Limited Liability

    The liability of a company is not the liability of its members. Members are only liable for the amount they have undertaken to deposit when they subscribe to the shares of the company. Liabilities of the company are not the liabilities of the people forming it. 

    Special privilages

    In comparison to other companies there are various benefits and privileges available to an OPC. An OPC is not required to hold an annual general meeting, they can have only one director. If the OPC has only one director then no board meeting is required to be held. Only one board meeting is sufficient in one half of calendar year. Cash flow system is not a mandatory part of the financials etc.


    In case you wish to transfer your business, you can easily do in this incorporated business model unlikely in case of proprietorship or a traditional partnership. It is easy to sell business for a company rather than any other business form. As business Corporation value will be based on the business, not the owner, therefore making it easy to sell the Company.


    Unlike a conventional Private Limited Company an OPC does not requires minimum 2 directors or members. Only one member is enough to incorporate the business. In future if there is any need to introduce more members then an OPC can be easily converted to a Private Limited Company. Only 1 director is sufficient in case of OPC.



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    Frequently asked questions ABOUT ONE PERSON COMPANY

    Every person who proposes to become a director of a company is required to obtain a DIN. A DIN is linked to your PAN Card and is required to be obtained only once in a Life time.

    The Directors of the company are required to sign various E-Forms on behalf of the company. A DSC is required to show the authority of the person signing the various forms on behalf of the company.

    Yes, a company must have a registered office in India. MCA sends all the communications to the registered office of the company. It need not be a commercial place. You can have your residence as Company’s registered office.

    Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC.

    A person can be member in only OPC. He cannot incorporate more than one OPC at a time.

    No, the incorporation process is completely online and physical presence of the promoter is not required. All the forms and documents are required to be filed online on behalf of the promoter.