One Person Company: An Overview

Abstract

A person can set up and run a company called "One Person Company (OPC)", which was introduced under the Companies Act, 2013 by the enactment of the Companies (Organization) Rules, 2014. Many concepts were introduced in companies act 2013 one of the important concept in that One Person Company. Under the formation of such OPCs any individual resident person of India can form a company on their own. OPC is similar to the concept of Sole-proprietorship with separate legal entity. OPC provides full freedom to entrepreneurs to contribute in the economic activities. This paper is an attempt to discuss a few aspects and overview the core contents of One Person Company.