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.