One Person Company is a private limited company consisting of only one shareholder who is also the director of the company. OPC or One Person Company is an improvement over the traditional structure of sole proprietorship limiting the liability of the person to the total of his/her capital contribution towards the business.
There will be a nominee director who has no power until the original shareholder/director is rendered incapable of running the business eg. Due to death, incapacity of mind etc.
To incorporate an OPC an application must be made to ascertain availability of name of business by applying through Form INC-1. If the desired name is available then such name must be reserved. Within 60 days from such reservation INC-2 form which is the application for incorporation must be submitted.