For a for-profit business, there are primarily five types of business entities in India:
i. Public Limited Company
ii. Private Limited Company
iii. Limited Liability Partnership (LLP)
iv. Partnership
v. One Person Company (OPC)
vi. Proprietorship
While the first four types (Public Limited, Private Limited, LLP and Partnership) require more than one promoter, OPC and Proprietorship are the types of entity applicable when there is only one promoter.