Comparision of OPC & Sole Proprietor

Comparision of OPC & Sole Proprietor 2019

Both Sole Proprietorship and One person company are business structures. Each of these structures are beneficial for entrepreneurs in their own perspectives. Both business structures need only one person to run the whole business. However, they are different in some terms which you can see below.

BasisOne Person Company (OPC)Sole Proprietorship
Minimum No. of OwnersOnly 1Only 1
Maximum No. of OwnersOnly 1Only 1
Minimum No. of DirectorOnly 1NA
Registration ProcessAs per method prescribed under the companies Act 2013No such specific requirement. However to open a bank account, GST registration is required
Ownership on the propertyCompany is the owner of all the assets and liabilities.Proprietor is the owner of all the assets and liabilities of the proprietorship.
Owners LiabilityLimited liabilityUnlimited liability
Continuity of BusinessPerpetual successionon the discretion of proprietor
PAN NumberSeparate pan number required for companyNo separate pan is required for proprietorship. Pan number of proprietor is sufficient
Removal of ownercannot remove the shareholder from the companyNA
ManagementManaged by the board of directors of the companyManaged by proprietor
Annual FilingEvery yearNA

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