ONE PERSON COMPANY
An enterprise, whether private or public, is an association of individuals. One of the main points that describe the company is its feature of being an association of individuals. Several shareholders, directors, management, and so on get together to establish and get into work any company. A private company has at least two persons whereas a public company has at least seven people coming together for the establishment. The Companies Act, 2013 opens a new chunk for organizing a business in India by providing the idea of OPC which is a legitimate way to establish a company with only one person. OPC is similar to the existing concept of Sole-proprietorship with a separate legal entity distinct from its proprietors and promoters. OPC is a blend of sole proprietorship and company as forms of business. The least number of members required to make a company is two for a private company and seven for a public company. An OPC is incorporated as a private company with just one individual as a member. OPCs propose another person who will take over the establishment in case the said individual of OPC dies. An OPC can be started with a least paid-up capital of Rs 1,000,000 and can either be a company limited by share, a company limited by guarantee, or an unlimited company. ADVANTAGES OF ONE PERSON COMPANY :
Separate identity– A OPC has a different identity although it has only one shareholder. Having a distinct identity from that of the said individual itself creates goodwill for the company and customers find it more efficient and systematic.

Lesser legal formalities- OPC has to follow lesser regulations under the Companies Act, 2013 in comparison with private and public companies.
Quick decision making- Since the shareholder is the sole authority and decision-maker it is easier for him to make quick decisions for the company
Succession- At the time of establishment, the individual proprietor has to select a nominee. If the member is unable to continue the operations because of death or some unforeseen issues then the nominee will have to manage the operations of the company.

Limited Liability- Unlike a sole proprietorship, the member of an OPC will not be held personally liable and it is limited to the extent of the value of the share in his company
Authorized Capital- The minimum capital requirement to incorporate an OPC is only 1 Lakh rupees.

This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being.