OPC is a one shareholder corporate entity, where legal and financial liability is limited to the company only. It is also a private limited company with some extra benefits and less regulations. Most small companies are actually owned and managed by a single individual, but currently are required to bring in another shareholder. This increases compliance requirements, for example, shareholder meetings require the presence of both the shareholders. With the implementation of the Companies Act 2013, a single person will constitute a Company, under the One Person Company (OPC) concept.
- At Least 1 Promoters: who will promote/ incorporate the company.
At Least 1 Directors: Directors should be individual only. No Body corporate/ HUF or Partnership Firm can be appointed as Directors.
Generally, in most of the cases, Promoters and Directors are the same in One Person Companies.
Director must have DIN (Directors Identification Number).
- Director must have DIGITAL SIGNATURE who can apply with any of DSC Vender.