Limited liability protection: OPCs offer limited liability protection to their owners, which means that their personal assets are separate from the company's assets. This ensures that the owner's personal assets are not at risk in case of any legal or financial liabilities of the company.

Separate legal entity: OPCs are a separate legal entity from their owners, which means that they can own property, enter into contracts, and sue or be sued in their own name.

Easy registration: OPCs can be easily registered online through the Ministry of Corporate Affairs (MCA) website, making the registration process quick and hassle-free.

Lower compliance requirements: OPCs have lower compliance requirements as compared to other types of companies, which reduces the burden of regulatory compliance for entrepreneurs.

Perpetual existence: OPCs have perpetual existence, which means that they can continue to exist even after the death of their owner.

Obtain Digital Signature Certificate (DSC): The first step in registering an OPC is to obtain a digital signature certificate (DSC) for the owner of the company. This can be done through a government-approved agency.

Apply for Director Identification Number (DIN): Once the DSC is obtained, the owner must apply for a Director Identification Number (DIN) through the MCA website. This is a unique identification number required for all directors of a company.

Name availability: The next step is to check the availability of the desired company name through the MCA website. Once a unique name is chosen, it can be reserved for 20 days.

Prepare documents: The owner must prepare the necessary documents, including Memorandum of Association (MOA), Articles of Association (AOA), and nominee consent form.

File for incorporation: After the documents are prepared, the owner can file for incorporation of the OPC through the MCA website. The application must be accompanied by the necessary fees and documents.

Obtain Certificate of Incorporation (COI): Once the application is approved, the owner will receive a Certificate of Incorporation (COI) from the Registrar of Companies. This marks the official registration of the OPC.

Maintaining financial records: OPCs are required to maintain proper financial records and prepare annual financial statements. This includes maintaining books of accounts, balance sheets, profit and loss statements, and cash flow statements.

Filing annual returns: OPCs must file their annual returns with the Registrar of Companies (ROC) within 60 days from the end of the financial year. This includes filing Form AOC-4 for financial statements and Form MGT-7 for annual returns.

Conducting annual general meetings (AGMs): OPCs are required to hold an AGM every year, even if there is only one member. The meeting must be held within six months from the end of the financial year.

Updating company records: OPCs must update their company records with the ROC in case of any changes to the company's directors, address, or other details.

Compliance with taxes: OPCs must comply with all tax-related requirements, including obtaining a permanent account number (PAN), paying income tax, and collecting and depositing goods and services tax (GST) if applicable.

Other regulatory compliances: OPCs must comply with other regulations and laws that may be applicable to their specific industry or business.