One person company is the best way to start a company if there is only one promoter or founder.
The Companies Act, 2013 defines it as “ A Company which has only one member”.
It has all the advantages of a private limited company, like limited liability, easy to incorporate, access to credit providing full control to the person to start a business on their own.
Separate legal entity
One person company enjoys the status of a separate legal entity distinct from its owner and enables the owner to enjoy complete ownership of the business.
The personal assets of the owner are secure even in case of debt or loss as the liability of the member is limited to his shareholding.
OPC enjoys the privilege of unobstructed existence unless it is legally dissolved. In the event of death or departure, the nominee shall become the member of the OPC.
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