Previously NRIs were not allowed to incorporate One Person Companies. Now any natural person, who is an Indian citizen, whether resident in India or otherwise would be allowed to form an OPC
The government on Wednesday liberalized rules for one-person companies and small companies—two special legal forms allowed under the Companies Act—and offered a fast-track merger and acquisition (M&A) process for startups.
The idea is to reduce the compliance burden and improve ease of doing business.
The corporate affairs ministry issued separate orders giving effect to new rules on one-person companies and small companies from 1 April and fast-track M&A clearance for startups with immediate effect.
Source: livemint
