What is One Person Company (OPC), As the name suggests OPC means One Person Pvt Ltd Company. It will have only one person as Director and Shareholder. Director must have an Indian resident status. Along with the single Director a Nominee also has to be appointed. This Nominee will take over as a Director in case of any disability or demise of the existing Director. One person company was launched in the year 2013 , before which, in India we did not have this single entity company registration format . Earlier minimum 2 Directors were required to form a Pvt Ltd company.
OPC has to be mandatorily converted to Pvt Ltd or Public Lid once it attains an annual turnover of INR 2 Crores or the Paid up capital crosses 50 lakh. Then the Directors an be increased too.
It enjoys the separate legal status just like the Pvt Ltd company .
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