Legal professionals at BDS Legal Services, will provide the highest quality research within a short timeframe and at a fraction of the traditional costs. Most importantly, our Intellectual Property support services are tailored to meet the individual requirements of each client. Depending on your specific needs, BDS Legal Services will conduct multi-level searches and list the most relevant results.
After ‘The Companies Act’ in 2013, One Person Company concept was introduced thus revolutionizing the corporate laws in India. Being the sole owner of the company and its only shareholder is called the OPC. Because of these regulations, the demerits of Sole proprietorships were removed to a great extent.
No, as per the Act, Only Indian born citizens can form a One Person Company. Non-resident Indians or individuals who do not reside in India for over 182 days cannot incorporate an OPC.
No, FDI is not allowed for One Person Company, if it is, then it will lose its One Person Company status.
As per the Act, Nominee of one OPC, cannot be a nominee of another OPC. In this event, the Nominee has to withdraw his membership from either of the OPCs within one hundred and eighty days.
As per the Act, the average annual turnover during the relevant period should not exceed Rs.2 Crores. If it exceeds, then the company automatically get converted to a Private Limited Company.
The Act has not made any restriction for a One Person Company to become a member of another Private Limited Company.
It is not mandatory to appoint a Company Secretary in OPC and hence the annual return of OPC companies can be signed by the Director.
A One person company can be converted to a Public Limited Company; however a public limited company cannot be converted to an OPC
As per the provisions of the Act, The OPC cannot carry business of Non-Banking Financial Investment activity including investment in security of any corporate.