One Person Company (OPC) has been recently introduced in India to promote business enterprises that are owned and managed by a single Entrepreneur. Corporate entities like Limited Liability Partnership, Private Limited Company and Limited Company require two or more people to partner. hrough the registration of One Person Company, an owner can enjoy the benefit of separate legal entity and perpetual existence which is the limitation of a proprietorship firm.
For One Person Company registration, only an individual is required as a member. Only 1 director is required for the incorporation of One Person Company which is not possible in a Private Limited Company.Further, in an OPC, a nominee is required. A Nominee is an individual who will become a member of the company in case of death or disability of the sole member of the One Person Company. The regulations of Private Limited Company will equally applicable to the One Person Company except where specifically provided