Who can register a One Person Company in India?

In India, any individual who is a resident and citizen can register a One Person Company (OPC). A resident is defined as someone who has lived in India for at least 182 days during the preceding financial year. The key eligibility requirement is that the person must be at least 18 years old and competent to enter a legal contract. Importantly, a person can only incorporate one OPC at a time, and they cannot be a nominee in more than one OPC simultaneously. This structure is ideal for solo entrepreneurs who wish to gain the benefits of limited liability without the complexities of a full-scale private limited company. The individual must also nominate another person who will take over the company’s responsibilities in case of the owner’s death or incapacity. This nominee must also be a resident and citizen of India and must consent to the nomination. OPCs are restricted from engaging in non-banking financial investment activities and cannot convert to a company with more than one member until two years have passed, except if their turnover exceeds Rs.2 crores. Overall, OPC registration provides a way for individuals to run a business with a professional corporate structure.

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In India, any individual who is a resident and citizen can register a One Person Company (OPC). A resident is defined as someone who has lived in Indi...