To encourage the small entrepreneurs the government introduced the concept of One Person Company in Companies Act, 2013. One Person Company in the newly introduced concept which provide features of both sole-proprietorship and a company form of business.
A single national person can constitute a Company, under the One Person Company; it means no need to search for another Director/member/partner to form a business entity as other Private Limited/Public Limited/Limited Liability Partnership is required to do as per the legal requirement under the law. One most important feature of OPC is that the risk is reduced to the extent of the value of shares held by such person in the company.
Also in this type of entity you are not required to share your business idea no need to share your business profit as you are the member you are the only Director of your own Company “no one owes your own formed entity” and hence, it is very important to discuss your business plan with team of COMPLIANCESBIZ before registering a new type of entity in India.