One Person Company means a company that has only one member. OPC is one of the significant milestones of the Companies Act, 2013, introduced to encourage self-employment. Basically, it is a form of Private Limited Company where a single entrepreneur can avail the benefits of a limited liability mechanism. OPC requires one member and one nominee, who becomes the member of the company in case of the death or any other incapacity of the original member. Unlike a Private Limited Company, an OPC does not require a minimum of 2 members or directors. A sole member is sufficient to incorporate an OPC. An OPC is the best alternative for entrepreneurs who want to carry a business under a limited liability form without any tie-ups with the other members. An OPC can be easily converted to a Private Limited Company in the future if the need arises.