One person company is the concept introduced in companies Act 2013. One Person Company (OPC) is similar to private limited company with some differences.
The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity.
Entrepreneurs are regularly confused about which business structure they should register as. Let’s figure out which one is better suited to your business.
One Person Company was introduced in Companies Act to make sure a sole entrepreneur could start and manage a legal entity with limited liability.