To understand one person company definition, we first need to get into the identity it creates. A registration provides corporate status and many benefits to the members and directors. In the case of a Private company, at least two members are required which is not the same in the case of OPC. To eliminate this drawback and allow a single person to reap the advantages of One Person Company, this sort of a company structure is introduced through the Companies Act, 2013. One Person Company registration is simplified with online filing and process.