ONE PERSON COMPANY (OPC)
OPC is the new form of private limited structure. A One Person Company (OPC) is a company which has one person as its member. It is a legal form of business. Furthermore, members of a company are nothing but subscribers to its memorandum of association, or its shareholders. Also there is no third party contravention in controls and management. So, an OPC is effectively a company that has only one shareholder as its member. Nominee appointment is mandatory for OPC incorporation. It is governed by THE COMPANIES ACT, 2013 . OPC is unaffected by death of it member as it will continues to exist and run by nominee . OPC are helping tremendously in increasing the overall economy in India.
Key benefits of One Person Company:-
- Only One member is required
- Liability of member is limited
- Less Paperwork
- Easy to set up and maintain
- Less Compliances as compared to Private limited Company.