The concept of a one person company (OPC) was brought out as per the Company's Act 2013. Previously, in order to find a private company you need at least 2 members and directors. On the other hand, you needed at least 7 members and 3 directors in order to start a public company.
A single person was never allowed to incorporate a company earlier on. However, the Section 2 (62) of said act has made it possible for the people who want to form a company with just one director and one member.
Normally, in such a company the compliance related requirements are lot lesser than a private company.
The following things you need to know before starting an OPC:
1. What is One Person Company?
2. Minimum requirements to form an OPC
3. Features of One Person Company
4. Advantages of One Person Company
5. Why should you register such a company in Bangalore?
6. Procedure to register an OPC
7. Documents required for registering a one person company