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of <h1>New OPC Rules: Indian Citizens Can Incorporate Regardless of Residency, 120-Day Residency Rule Updated, Minors Excluded</h1> A One Person Company (OPC) can be incorporated by a natural person who is an Indian citizen, regardless of residency status. This individual can only be a member or nominee of one OPC at a time. If a person becomes a member of another OPC as a nominee, they must comply with membership limits within 180 days. Minors cannot be members or nominees. OPCs cannot be incorporated or converted under section 8 of the Act and are prohibited from engaging in non-banking financial investment activities. The definition of 'resident in India' has been amended to 120 days of stay in the prior financial year.
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