What is the minimum number of a director to form OPC?
As the name suggests, a One Person Company can be started with one director.
Who is a nominee in a One Person Company?
A nominee is a person who in the event of death or disability of the subscriber of the One Person Company shall assume his position. Memorandum of Association of a One Person Company will mandatorily prescribe the name of the person.
Can I appoint my wife as my nominee for my One Person Company?
Yes. Anyone can be appointed as a nominee, provided he or she holds a correct PAN in his or her name.
Can a nominee of a One Person Company be changed after incorporating the company?
Yes. A nominee can be changed at any time with due intimation to the Registrar.
Can NRIs or Foreigners hold shares of a Private Limited Company?
Yes, NRIs / Foreign Nationals / Foreign Companies can hold shares of a Private Limited Company subject to Foreign Direct Investment (FDI) Guidelines.
What is the Director Identification Number (DIN)?
Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.
Is Foreign Direct Investment allowed for One Person Company?
No, FDI is not allowed for One Person Company. You may consider incorporating a Private Limited Company if you desire to bring FDI.
Can OPC become a member of another private Limited company?
Yes, the Act has not made any restriction for a One Person Company to become a member of another Private Limited Company.
Whether an OPC can be converted to a Public Limited Company and vice versa?
One person company can easily be converted to a Public or Private Limited Company.
Do you have to be present in person to incorporate a One Person Company?
No, you will not have to be present for registering of an OPC. This is a completely online process.