One Person Company:
According to the traditional practice, a company is an association of persons bound together by a common seal. So a "One person company" has been the most demanding from many of entrepreneurs for a very long time. The concept of a One Person Company (OPC) has been included in Clause 262 of the Companies Bill, 2011.
What about the partnership companies?
People will continue to form proprietorships even when the One person company exists, as Proprietorships, Partnerships and LLPs do have their own flexibility which OPC may not give. OPC could be ideal for an entrepreneur like freelancers, designers and developers who are one man armies can now form one man companies.
For more information and details about registering One Person Company, contact CompaniesInn
