Your Step-by-Step Guide to Registering an One Person Company (OPC)
Introduction to One Person Company (OPC) – A One Person Company (OPC) is a unique business structure introduced under the Companies Act, 2013, designed specifically for entrepreneurs who wish to operate as a single person entity. The OPC allows an individual to own and manage a company independently while enjoying the benefits of limited liability protection. This means that the owner’s personal assets are safeguarded from the company’s debts and liabilities. 2. Key features of OPC – 1. It can be registered with just one member, providing complete control to the owner over business decisions and operations. 2. The liability of the owner is limited to the extent of the capital invested in the company. 3. An OPC is recognized as a distinct legal entity, separate from its owner. 4. Compared to other company structures, OPCs face fewer compliance requirements. 5. OPCs have the advantage of continuity; the company can continue to exist even if the owner passes away or decides to transfer ow...