Business Registration As One Person Company

One Person Company (OPC)
As per Section 2(62) of the Company’s Act 2013, an OPC is incorporated as a private limited company, where there is only one member & Director (who may be a resident or NR) and prohibition in regard to invitation to the public for subscription of the securities of the company.

The One Person Company (OPC) attains a distinct legal entity status separate from its member. The member's liability is restricted solely to their shares, safeguarding them from personal responsibility for any company losses. As a result, creditors have the ability to file lawsuits against the OPC itself, rather than pursuing legal action against the member or director.
Banks and financial institutions have a preference for granting loans to companies over proprietorship firms. This makes it easier for companies to acquire funds.
The minimum required (Authirized Share) capital for establishing an OPC (One Person Company) is Rs. 1 lakh, but there is no obligatory minimum paid-up capital. As a result, it is comparatively simpler to incorporate an OPC when compared to other types of companies.
Because an OPC can be established and managed by a sole individual, the task of overseeing its affairs is simplified. This results in an expedited decision-making process, as choices can be made with ease and efficiency.