One person company has been introduced in the Companies Act, 2013. The major intent was to support businesspersons capable of starting a venture, by them. This is also done by means of allowing them to create a single person economic entity. One of the major advantages of a One Person Company (OPC) is that there only one member is allowed in OPC. On the other hand, a minimum of two members is needed for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership.
