At least one person is required to start an OPC who can act as a shareholder as well as a director.

Any individual or organization can become a member of OPC including foreigners/NRI.

An OPC or single person company is a good alternative to running a sole proprietorship because it gives limited liability to the business owner. This means that your liability is limited to the amount you have invested in the business and business debts cannot be recovered from personal possessions. A sole proprietorship ceases to exist on the death of its promoter however in the case of an OPC, the nominee director takes over and the entity continues to exist.

OPC Registration Procedure in India involves the following steps:

• Step 1: Apply for DSC
• Step 2: Apply for DIN
• Step 3: Name Approval Application in Form SPICe 32 or by using RUN Web service of MCA
• Step 4: Filing Forms with MCA along with Required Documents?
• Step 5: Issue of certificate of Incorporation? However, For Name availability under RUN Web service, there is no prior requirement to obtain DSC and DIN.

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Yes, a single person company is known as OPC as it can be formed with a single person only