Quick Summary
OPC allows solo entrepreneurs to enjoy limited liability with minimal compliance.
OPC has one member and one director (same person can hold both). It must nominate another person as successor. Conversion to private limited is mandatory if paid-up capital exceeds ₹50 lakh or turnover exceeds ₹2 crore.
Key Points
- Single shareholder
- Single director allowed
- Nominee mandatory
- Limited liability
- Mandatory conversion at thresholds