MCA Amends One Person Companies Rule

  • On 3rd February, 2021, the Ministry of Corporate Affairs (MCA) amends One Person Companies (OPCs) rules vide Companies (Incorporation) Second Amendment Rules, 2021.

Key Amendments

  • Now any natural person, who is an Indian citizen, whether resident in India or otherwise would be allowed to form an OPC.
  • For being considered as a resident in India, the residency period has been proposed to be reduced to 120 days from 182 days for NRIs.
  • A One Person company may be converted into a Private or Public Company other than a company registered under section 8 of the Act, after increasing the minimum number ....
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