One Person Company (OPC) is a ground breaking concept introduced by the Companies Act 2013. In this form of entity one can register a business with just one shareholder cum director and limited regulatory cost. In OPC the sole shareholder needs to declare a person who would be liable to operate the business entity if the director becomes disabled. When a business entity registered as OPC reaches a turnover of 2 crores or if the capital paid exceeds Rs 50 Lakhs, it has to change its constitution to a private limited company.