One Person Company

One Person Company is a new and useful concept in India which is usually introduced by The Companies Act 2013. It is one of the best ways to start up a new company. It is a legal entity separate from its member, offering limited liability protection to its sole member. OPC is adequately a company that has only one shareholder as its member.

Here are some common features of a one-person company like;

•  Private Company: One of the company’s acts says that an individual can form a company for any legal purpose. It further defines OPC as private companies.
•  Single Member: One-person company have only member and shareholder like others.
•  Nominee: A differ but useful feature of the OPC’s that defines it separately from other kinds of companies is that the single person of the company must mention a nominee while registering a company.

•  No Continual Succession: Since there is the only person in open person company. If that person is died because of any reason, then his death will result to choose a nominee on behalf of that person. This does not happen in other companies as they don’t follow the concept of continual succession.
•  Minimal One Director: OPC’s requires to have a minimum of one member as a director of that company. It can have a maximum of 15 directors.
•  No Minimum Paid-Up Share Capital: There is no amount defined in a Company Act 2013, as minimum paid-up capital for OPC’s.
•  Special Privileges: OPC’s enjoys many privileges and exemptions under the Companies Act 2013, that other types of companies do not retain.