One Person Company (OPC) in India
A One Person Company (OPC) is a unique business structure introduced under the Companies Act, 2013, allowing a single individual to own and manage a company. It combines the benefits of a sole proprietorship with the limited liability of a private company.
Key Features:
Single Owner:
Only one shareholder and director are required.
Limited Liability:
Personal assets are protected from business liabilities.
Separate Legal Entity:
The OPC is distinct from its owner.
Benefits of Registration:
- Simplified compliance compared to private limited companies.
- Ideal for solo entrepreneurs and small businesses.
- OPCs promote entrepreneurship by providing individuals with the advantages of incorporation without the complexity of a traditional company structure.