NRIs will be allowed to set up one-man companies back home By: Times News Service Muscat: Non-resident Indians (NRIs) will be able to set up one-person companies back home soon, following the proposal by Union Minister for Finance and Corporate Affairs to incentivise their incorporation into the Indian economy. Sitharaman was speaking while presenting the Union Budget 2021 on Monday. The incorporation of OPCs in India will help the NRIs to enter the domestic market, and will also provide them a livelihood once they return home. Announcing the scheme, the finance minister said, “Incorporation of OPCs will be incentivised by allowing such companies to grow without restriction on paid-up capital and turnover, allowing conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days, and allow also non-resident Indians to incorporate OPCs in India.”