A company structure that allows a single individual to own and run a company with limited liability, combining sole ownership with corporate benefits like perpetual succession.
Solo entrepreneurs who want limited liability and a corporate identity without needing additional shareholders/directors.
Ministry of Corporate Affairs (MCA), Companies Act 2013
PAN & Aadhaar of the sole member/director; ID and address proof; passport photo; registered office proof; nominee's consent (Form INC-3); Digital Signature Certificate (DSC).
Only one shareholder is allowed, though additional non-shareholding directors can be appointed.
Yes, a nominee must be named to take over in case of the sole member's death or incapacity.