Under section 2 (62) of the company act 2013, One Person Company means a company incorporated under the company’s act 2013 having only one person as a member. It is a new form of business which is came into existence through companies act in the year 2013. It is the form of business having separate legal entities form its promoter just like other forms of company. The main advantage of OPC form of company is that there can be only one member with whom the company can get incorporated while a minimum of two members is required for incorporating and maintaining a private limited company or seven-member are required for incorporating and maintaining a public limited company.
read more..