One Person Company (OPC) allows a single Entrepreneur to operate a corporate entity with limited liability protection with InsiderBiz. Register a OPC online at just Rs.8899 Fee.
OPC Registration Process
Before exploring the concept of a one person company, let us have a brief understanding of the various types of companies that can be formed. A company can be established for a lawful purpose by the following number of persons:
Seven or more persons, in case of a public limited company.
Two or more persons, in case of a private limited company.
One person, in case of a one-person company.
Unlike a private limited company, a one person company has certain restrictions associated with its incorporation. Hence, before starting an OPC registration, its essential to understand the constraints and ensure the promoter is eligible as per the Companies Act to register a OPC.
Thus, a one-person company can be formed by an Indian citizen who has his/her presence in India for at least 182 days during the immediately preceding calendar year. A person can incorporate not more than one OPC. Finally, an OPC is prohibited from having a minor as its member.