Which entities are allowed to incorporate as One Person Corporations (OPC)?

One Person Corporations (OPC) are designed to allow a single individual to incorporate a business entity, providing a distinct legal identity while also limiting personal liability. According to the Revised Corporation Code, only natural persons licensed to exercise a profession may incorporate as OPCs. This is particularly relevant for individuals in fields such as law, medicine, and engineering, where professional licensing is mandated.

In contrast, banks, financial institutions, insurance companies, and publicly listed companies operate under different regulatory frameworks and requirements that preclude them from being formed as OPCs. Banks and insurance companies, for example, typically need to adhere to specific regulations imposed by financial authorities that govern their corporate structure and operations. Publicly listed companies must also have a board of directors, which is incompatible with the structure of an OPC, as it is meant for single ownership without the need for a board to manage.

Thus, the correct answer reflects the specific provision in the Revised Corporation Code that permits natural persons with professional licenses to incorporate as One Person Corporations.