Recently introduced in the year 2013, an OPC is the best way to start a company if there exists only one promoter or owner. It enables a sole proprietor to carry on his work and still be part of the corporate framework. It is registered under the Companies Act, 2013. It is ideal for small businesses who want to raise capital.

A One Person Company (OPC) and Sole Proprietorship sound similar, but their functioning is different. There is a difference between OPC and sole proprietorship in terms of working and law. Until the introduction of the Companies Act, 2013, a sole proprietor has only one option to start a business, i.e. by establishing a sole proprietorship. But, now they have an alternative option, i.e. OPC.