What is a One Person company Registration?

The Companies Act of 2013 supported the formation of one person company in India. It governs the registration and functioning of one person company in India. In comparison with a public company a private company should have at least two directors and two members however on the contrary one person company doesn't need any group of people to be incorporated. Up until recently, a company could only be incorporated by a group of people. An organisation with a single owner is known as a one-person company in India. Only two people could form a company prior to the implementation of the Companies Act of 2013.

As per the Section 262 of Companies Act of 2013 and official registration of a one person company in India is legal. Registering a One person company in India requires a single director and a single member representing the whole form. This corporation type has very few compliance requirements in comparison with a private corporation.