Features of a One Person Company
One nominee should be appointed for the sole member. The nominee should be an Indian citizen, 18+ years of age whether a resident of India or otherwise.
Number of Members
A One Person company should have a minimum and maximum of 1 member. The member should be an Indian Citizen whether a resident of India or otherwise.
Number of Directors
The company should have a minimum of 1 and a maximum of 15 directors. The single member may also be the director.
There is no requirement of a minimum paid-up share capital w.e.f 2015. A company can be formed with a mere sum of Rs. 10000 as its share capital.