As per Companies Act 2013. Section 2(62) (OPC) One Person Company as a company which has only one person as a member. This is a special type of company which allows the sole owner to start a business under Private limited structure without adding any co-founder onboard. OPC is more popular for single managed business. OPC Registration is a modern approach to Sol-proprietorship business in India.
A person who is resident in India i.e. he has stayed in India for 182 days during the immediately previous financial year. However, one such person can't form more than one OPC or become the nominee of more than one for such a company. Foreign nations cannot register one person company in India.
Note: Exemption of section 96, section 98, and from 100 to 111 are allowed to OPC under Companies Act 2013.