One Person Company
Sec (62) –:
There can be only one, natural person resident of India who can be the member of OPC. As the name itself suggests it is a company which is owned by one single person.
Requirements:
- Only one Persona who is an Indian citizen can act as Subscriber to the Memorandum for its set up.
- Minimum 1 Director {the above member may act as a director}
- Minimum Capital Requirement (No minimum capital requirement)
- Company restricts the right to transfer it shares.
- One more Persona who is an Indian citizen can act as Nominee to the sole member /Subscriber to the Memorandum for its set up.