Companies Act 2013 gave birth to the concept of One Person Company. Section 2(62) of Companies Act defines ‘One Person Company’ as “a company run by a single person who is acting as a shareholder and director at the same time”. One Person Company Registration has lower compliance as compared to a Private Limited Company. Entrepreneurs in the initial stage of their business prefer to create OPCs instead of sole proprietorship business because the advantages that OPCs offer.