Only one person can become a member or partner in a One Person Company (OPC). An OPC, as the name implies, is intended for a single individual to form a separate legal organisation. A solo entrepreneur might benefit from restricted liability and company status with this structure. The individual becomes the company's sole owner and operator, with total authority over management and decision-making. However, while an OPC can only have one member, it can designate a nominee to take over the company's activities in the case of the member's death or incapacity. This assures the company's continuance and protection.
Leave A Comment