One Person Company (OPC) is a Company which has only one member as a director. It shall also be important to note that Section 3 classifies OPC as a Private Company for all the legal purposes with only one member. All the provisions related to the private company are applicable to an OPC, unless otherwise expressly excluded
A one person company(OPC) can be formed by anybody with a minimum capital of Rs. 1 lakh and it is necessary to mention the words ‘One Person Company’ in brackets under the name of the company, wherever its name is used for any purpose. The owner will be the director of the company and he need not conduct any Annual General Meetings (AGM). As Per Government of India Guideline, the owner at the time of registering OPC needs to nominate a person who will be incorporated as the next owner in the event of his death.