Notes on One Person Corporations (OPC)
A One Person Corporation (OPC) is a corporation with a single stockholder. However, only a natural person, trust, or an estate may form a One Person Corporation. Banks and quasi-banks, pre-need, trust, insurance, public and publicly-listed companies, and non-chartered government-owned and -controlled corporations may not incorporate as One Person Corporations. Moreover, a natural person who is licensed to exercise a profession may not organize as a One Person Corporation for the purpose of exercising such profession except as otherwise provided under special laws. A One Person Corporation shall not be required to have a minimum authorized capital stock except as otherwise provided by special law. A One Person Corporation shall file articles of incorporation in accordance with the requirements under Section 14 of the Revised Corporation Code. It shall likewise substantially contain the following: If the single stockholder is a trust or an estate, the name, nationality, and residence of ...