A One Person Private Limited Company (OPC) is a type of company structure in India where a single individual can start and operate a business as a separate legal entity. This means that the individual will have limited liability protection and the company will have a perpetual existence, separate from the owner .
The main advantage of a One-man private limited company is that it allows a single person to start and operate a business with limited liability protection, similar to a traditional private limited company. This means that the personal assets of the owner are protected in case the business incurs any debt or legal issues
Another important advantage is that a One Person company private limited has a separate legal identity, which means that it can enter into contracts, sue or be sued in its self-name, and self-assets in its self-name. This provides greater credibility and ease of doing business, as compared to a sole proprietorship.
In India, OPCs are governed by the Companies Act, of 2013, and are a popular choice for small businesses and entrepreneurs who want to start a business with limited liability protection. Additionally, single person private limited companies also enjoy certain tax benefits and exemptions, making them an attractive option for business owners