How Can You Set Up A One Person Company?

However, there are few who have different views. According to a research paper by law firm Nishith Desai Associates on the new Companies’ Bill, "A one person company is a paradigm shift in the Indian corporate regime, bringing it at par with global standards."

How to Set Up a One Person Company

A One Person Company will have only one shareholder, who may also be the director. It can have more than one director, and up to a maximum of 15.

However, the processes do not vary too much than that for a private company. To begin with, check with the registrar of companies for the availability of a name for your company. Like private companies use the suffix 'pvt ltd', similarly these companies will use the suffix 'OPC'.

Next step is to appoint a 'director identification number' to every director and register for digital signatures for all of them. As the company will be owned by a single person, he must nominate someone to take charge of it in case of his death or disability.

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