Steps to Incorporate One Person Company in India
Companies Act, 2013 has opened the corporate door for the individuals who have all the entrepreneurial expertise and always wanted to have their own company by the new concept of "One Person Company". DEFINITION of OPC in India :- Section 2(62) of the Companies Act, 2013 defines OPC to mean a Company which has only one person as a member. It can have only one member at any point of time. It may have only one director and can however appoint more than 15 directors after passing a special resolution. As per section 3(1) and (2), OPC can only be incorporated as a private limited company. Such a company may either be: A company limited by shares; or A company limited by guarantee; or An unlimited company The words ''One Person Company'' is required to be mentioned in brackets below the name of such company, wherever its name is printed, affixed or engraved. Eligibility for Incorporation and Nominee Member As per Rule 3(1) of the Companie...