Advantages

• Ideal for solo founders
• Single promoter structure
• Limited liability
• Structured compliance
• Suitable for individual entrepreneurs before scaling.

Promoters are called

• Shareholder (Member)
• Director

Structure Requirements

• Minimum Shareholders: 1
• Maximum Shareholders: 1
• Minimum Directors: 1
• Maximum Directors: 15
• Minimum Capital: No statutory minimum
• Maximum Capital: No limit

NRI / Foreign Participation

• NRI as Shareholder: Not permitted
• NRI as Director: Not permitted
• Foreign National Participation: Not permitted
• Foreign Funds: Not allowed

Meetings

• Board Meetings: Minimum 1 per half year
• Shareholder Meetings: Not mandatory (only one member)

Foreign Subsidiary Possibility

• Foreign company cannot set up OPC as subsidiary.

Dividend Repatriation

• Not applicable (as only resident shareholder allowed).

Remuneration

• Director can draw salary

Statutory Compliance

• Maintain books of accounts
• Annual financial statements
• MCA filings (AOC-4, MGT-7A)
• Income tax filing
• GST Filing

Audit

• Mandatory statutory audit every year.