One-person companies: a new entry route for non-resident Indians into the Indian market
Introduction The concept of 'one-person companies' ('OPCs') was proposed by the Dr JJ Irani Committee in 2005 and, when the Companies Act 2013 entered into force – completely transforming Indian corporate law by introducing new concepts that previously did not exist – the concept of OPCs was introduced. OPCs aim to provide an alternative and simpler business structure for small entrepreneurs, traders and artisans, which are the backbone of India's microeconomic industry but were lacking a legal business structure that did not waste time, energy and monetary resources. Previously, the only...