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 ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy April 2021 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

News Snippets