One Person Company consists of a single person; it can be formed by subscribing to the memorandum of association and fulfilling other details provided in the Companies Act 2013. Information related to the nominee and who will hold the authority in case of demise of the original owner should be provided in the memorandum of association.
Once the memorandum of association is completely available on paper; submit it along with the nominee’s consent to his nomination to the Registrar of Companies. Though nominee can extract his/her name at any point in time by submitting the application to the Registrar.
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Obtaining registration of a one-person company will provide autonomy to a single individual of the whole company. OPC Registration can easily be obtained by following the provisions of the Companies Act, 2013.