ONE PERSON COMPANY
One person Company is a private limited firm comprising just one shareholder who’s also the director of the business. OPC or One Individual Company is an improvement over the traditional arrangement of sole proprietorship limiting the liability of the individual into the total of his/her capital contribution towards the business enterprise.
There’ll be a nominee director who does not have any power until the first shareholder/director is rendered incapable of running the business eg. Due to death, incapacity of mind etc..
To integrate an OPC an application must be made to determine availability of name of business by applying through Form INC-1. If the desired name is available then such title has to be booked. Within 60 days from such reservation INC-2 form which is the application for incorporation must be submitted.