One Person Company Registration

• November 26, 2022
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The Companies Act, 2013 completely revolutionized corporate laws in India by introducing several new concepts that did not exist previously. One person is also one of new concept introduced. One person company (OPC) means a company formed with only one (single) person as a member, unlike the traditional manner of having at least two members. It is recognition of single person economic entity lightens a path for small traders, service providers to venture into business by expanding their opportunities through corporate identity. As per provision of section 2(62) of the Companies Act, 2013 defined “one person company” means a company which has only one person as member. Any natural person (should not be minor) who is an Indian citizen whether a resident in India or not i.e. NRI shall be eligible to incorporate a One Person Company and appoint nominee of an OPC,Timeline for Non-resident individuals has been reduced to 120 days.

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