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An individual who is an Indian citizen and an Indian resident is eligible to apply or act as a One Person Company (OPC) member or nominee. In the above statement, an Indian resident means an individual who has stayed in Indian for a minimum period of 182 days during the previous financial year.
OPC can only be formed by a natural person of Indian resident or an Indian citizen.
According to the Companies Incorporation 2nd Amendment rules, 2021, only a natural Indian citizen and an Indian resident are eligible for an OPC (One Person Company).
If you want to start a one-person company (OPC), then you must not be a nominee or member of more than one OPC, and only one person can be the shareholder director of an OPC.
Opening an OPC by an Indian resident or an Indian citizen should not be disqualified under the Companies Act, 2013.
The minimum age for the person who is forming an OPC is 18.
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A one-person company is a company formed by a single person, who is both the sole director and shareholder of the company. This is introduced under the Companies Act, 2013, which helps small investors and businesses to start their own company.
As an Indian resident, I have a small business for which I have registered for an OPC, which includes the process:
According to section 2(62) of the Companies Act 2013, a company should include 1 director and 1 member. Both the director and members can be the same person.