Head Automation & Dev Ops at Thomson Reuters
Bankok169 Restaurant Chain
Director-CR, ICFAI Business School
Oregon Health & Science University, USA
Anuradha Timbers International
A comprehensive list of frequently asked questions on One Person Company Registration .
Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member andnominee of an OPC. For the above purpose, the term "resident in India" means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one financial year.
In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into private or public company.
No it is not possible to join new member/shareholder, you can appoint nominee director.