A One Person Company (OPC) is a legal business entity structure that allows a single individual to own and manage a company.OPCs are designed to encourage small business entrepreneurs who want to start and manage their own companies without needing to involve multiple shareholders or partners.
As per Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. It is a form of a company where the compliance requirements are lesser than that of a private company. The director and member can be the same person.