A One Person Company is a company that has only one person as a member. OPC was introduced to encourage individuals who are capable of starting their own business. OPC enables a sole proprietor to convert his firm into a Limited Liability company and avail the benefits of a Company.
An OPC is a business structure that enjoys the benefits of both forms of business i.e. a Sole proprietorship and a company. Thus, it eliminates the hassles of finding the right kind of co-partner/s for starting a business as a registered entity.