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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 option available to them was to register their business as a sole proprietorship or form a company with at least two people. ....

Companies Incorporation Second Amendment , Dr Jj Irani Committee , Companies Act , Second Amendment Rules , நிறுவனங்கள் ஒருங்கிணைப்பு இரண்டாவது திருத்தம் , டாக்டர் ஜ்ஜ் இரணி குழு , நிறுவனங்கள் நாடகம் , இரண்டாவது திருத்தம் விதிகள் ,

Budget move on one-person companies won't help most startups


Budget move on one-person companies won t help most startups
Quartz
2/2/2021
Ananya Bhattacharya
© Provided by Quartz
India s Finance Minister Nirmala Sitharaman arrives to present the 2019 budget in Parliament, New Delhi, India
Indian startups running a one-man show are in for a treat.
On Feb. 1, Indian finance minister Nirmala Sitharaman proposed the scrapping of capital and turnover limits on one-person companies or OPCs. As part of her budget speech for 2021-22 (April-March), Sitharaman also said that the residency limit for Indians to set up OPCs in the country will be reduced from 180 days to 120 days. In addition, the government will allow non-resident Indians to set up OPCs in India, which was so far prohibited. ....

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