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    • Jan 21, 2021
    • 1 min read

Resident Director [section 149(3)]

a) Every company shall have at least one director who has stayed in India for a total period of not less than 182 days in the previous calendar year. (Financial year, As per Companies Amendment Act, 2017)

b) In case of newly incorporated company appointment of Resident Director shall be proportionately at the end of financial year in which it was incorporated

c) In case of Specified IFSC public company appointment of Resident Director shall be in respect of financial years other than the first financial year from the date of its incorporation. Even OPC needs a resident director. Hence, a foreign individual wanting to set up OPC must necessarily partner with an Indian resident for being a director.

d) This provision applies to all Companies including private companies.

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