“A one-person company is an organization with only one individual as its member. Members of a company are essentially subscribers to its memorandum of association or its shareholders. Therefore, an OPC is essentially a company with only one shareholder.

These companies are typically established when there is only one founder or promoter for the business. Entrepreneurs whose businesses are in the early stages often choose to create OPCs instead of sole proprietorships due to the various advantages that OPCs offer. This approach encourages more individuals to step forward and initiate a business.”