Can a minor become nominee of OPC?

Ans. Yes, it is mandatory to nominate a person, (who shall meet the criteria as discussed above), at the time of incorporation, with his prior consent in the Form INC-3. Nominee is a person who shall, in the event of Death of member or his incapacity to enter into contract, become the member of OPC.

Can a 17 year old register a company in India?

Yes, a minor can become a shareholder of a company, if the shares of a company are gifted to the minor. As Minors cannot enter into a legally binding contract, they cannot become a shareholder by purchasing shares under a share purchase agreement.

Can minor form one person company?

Who cannot form a One Person Company? A minor, a foreign citizen, a Non-Resident, and any person incapacitated by contract will not be eligible to become a member.

Can nominee be changed in OPC?

As per Rule 4(5) of the Companies (Incorporation) Rules 2014 The subscriber or member of OPC can change his nominee at any time or for any reason by giving a notice in writing to the OPC. Step 1: OPC subscriber to obtain prior consent of new nominee in Form No INC. 3.

Can a minor start a company in India?

A minor cannot start a business on his own because the liability of a Sole Proprietor is unlimited. As stated by the law a minor cannot be held liable for any of the acts undertaken. Also, as a business owner, he/she is not allowed to enter into a contract with any third parties.

Can a minor become a CEO?

While you may be able to be a CEO, you may NOT be able to enter into any contracts as a minor. So you would need an adult to enter into contracts and take fiscal responsibility for your company.

Can NRI have OPC India?

No provision for NRI to incorporate OPC. NRI will be allowed to form a One Person Company in India, through Substitution of words-“whether resident in India or otherwise”. The residential status of individual shall be computed on 120 days. Instead of 182 days.