No. As per the Act, Only Indian born citizens can form a One Person Company. Non-resident Indians or individuals who do not reside in India for over 182 days cannot incorporate a OPC.
No, FDI is not allowed for One Person Company, if it is, then it will lose its One Person Company status.
No, the Act clearly states that, the nominee should also be an Indian resident citizen.
As per the Act, Nominee of one OPC, cannot be a nominee of another OPC. In this event, the Nominee has to withdraw his membership from either of the OPCs within one hundred and eighty days.
As per the Act, the average annual turnover during the relevant period should not exceed Rs.2 Crores. If it exceeds, then the company automatically get converted to a Private Limited Company.
The Act has not made any restriction for a One Person Company to become a member of another Private Limited Company.
As per the provisions of the Act, The OPC cannot carry business of Non Banking Financial Investment activity including investment in security of any corporate.
If it is not specifically mentioned in the incorporation document, it would be assumed that the sole shareholder shall be the sole director.
It is not mandatory to appoint a Company Secretary in OPC and hence the annual return of OPC companies can be signed by the Director.
A One person company can be converted to a Public Limited Company; however a public limited company cannot be converted to an OPC
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