February 2021 \ Diaspora News \
MCA lets NRIs in

The Ministry for Corporate Affairs (MCA) has amended ...

Previously, NRIs were not allowed to incorporate OPCs. Now any natural person, who is an Indian citizen, whether resident in India or otherwise would be allowed to form an OPC, as per the relaxations proposed in the budget. For being considered as a resident in India, the residency period has been proposed to be reduced to 120 days from 182 days for NRIs.

Further, the limitation of paid up share capital of Rs 50 lakh and average annual turnover during the relevant period of Rs 2 crore for OPCs is being done away with, so that there are no restrictions on the growth of OPCs in terms of their paid up capital and turnover.




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