OPC Registration in Coimbatore

One Person Company registration in Coimbatore provides a legal structure for sole proprietors to establish a company with a single owner who acts as both the director and shareholder. OPCs are becoming increasingly popular in India, contributing to economic growth. Many entrepreneurs opt for OPC registration to gain legal recognition and build their public image. Solubilis is a trusted company registration service provider in Coimbatore, serving various areas like Race Course, Avarampalayam, Pappanaickenpalayam, Gopalapuram, Nava India, and Sidhapudhur.
OPC Registration in Coimbatore operates as a company limited by shares, and it is ideal for individuals who don't have a second member or shareholder for limited liability purposes. The concept of OPC was introduced under the Indian Companies Act, 2013. However, it is not permitted to engage in non-banking financial activities, such as investing in other companies' securities. Additionally, an Indian citizen must act as the nominee for the One Person Company.

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For the proposed director and shareholder who are Indian citizens, the following documents are required for company registration:

Proposed director & Shareholder - Indian Citizen:

  • PAN Card
  • Aadhar Card.
  • Proof of Address (Latest Bank Statement, Telephone Bill, Electricity Bill, or Mobile Bill)
  • Passport Size Photo.

Register Office documents:

  • Rental Agreement (if the office is on rent)
  • Electricity Bill (EB bill)(not more than two months old)
  • If the office is rented, the occupant must provide a No Objection Certificate (NOC) from the landlord to operate the business.

These documents are essential for the seamless OPC registration in Coimbatore.

Benefits of One Person Company registration in Coimbatore:

Legal identity - OPC has its own legal identity, separate from its member.

Easy Conversion - It's easy to convert an OPC to other business structures with minimal paperwork.

No Minimum Capital - OPCs can start without any minimum capital requirement.

Access to Loans - Banks and financial institutions prefer lending to OPCs over proprietary firms.

Social Recognition - OPC is a popular business structure, which boosts customer confidence.

Tax Rate - OPCs are taxed at a 30% rate on profits, similar to private limited companies.

Easy Return Filing - Annual returns can be easily filed with the director's signature; no secretary's signature is required.

Limited Liability - Members' liability is limited.

Flexibility and tax savings - TDeductible expenses reduce taxable income, leading to tax savings.

OPC registration in Coimbatore offers several advantages for entrepreneurs and business owners.

Step 1: Name application:

  • An application for reservation of name of the company with the registrar of companies to be filed. Applicant is allowed to provide two names and one re-submission.

Step 2: Name Approval / Rejection:

  • On receipt of the application, CRC (Central Registration Centre) may either approve or reject the application.

Step 3: Application for DSC

  • Digital Signature Certificate to be obtained for all the subscribers and directors of the company

Step 4: Preparation of MOA & AOA

  • Every company must draft the MOA and AOA, and it’s a mandatory to attach the digital signature certificate in both documents.

Step 5: Forms and Documents Filing:

  • Application for Registration of private limited to be filed along with MOA and AOA, if any, and other requisite documents and fees.

Step 6: Certificate of Incorporation:

  • On being satisfied, the registrar of companies (ROC) shall issue the certificate of incorporation, will be allotted DIN (Director Identification Number), PAN – (Permanent Account Number) and TAN (Tax Deduction Account Number)

FAQ'S


Choosing a One Person Company (OPC) over sole proprietorship allows small businesses to operate with limited liability and a separate legal existence. With just one person, an OPC can run the business effectively.

To start an OPC, you need to be a natural person and a resident Indian citizen. The nominee should also be an Indian citizen and resident. No minimum capital is required.

The share capital of an OPC to have online OPC registration in Bangalore should not exceed 50 lakhs, and its annual turnover should not surpass 2 crores. If an OPC's paid-up share capital exceeds 50 lakhs or its annual turnover surpasses 2 crores for three consecutive years, it must convert into a private or public company.

An OPC cannot voluntarily convert into a private or public limited company until two years from its incorporation date. If it wishes to convert, it must apply within 30 days.

Under the Companies Act, one person can legally operate an OPC. However, a single person cannot operate more than one OPC simultaneously.

The member of a One Person Company can change the nominee by informing the OPC in writing. The sole member must obtain the new nominee's prior consent using Form INC 3. The OPC, upon receiving this notice, should file a notice of the change with the registrar within 30 days using Form INC 4 along with the required fee. This process ensures that the nominee can be updated as needed to reflect any changes in the OPC's structure or ownership.

A nominee can withdraw consent at any time by providing written notice to the OPC and sole member/subscriber.

You need a minimum of one director to start a One Person Company, but you can have up to 15 directors.

Minors, foreign citizens, Indian non-residents, and those unable to contract are restricted from forming a One Person Company.

No, only Indian citizens or residents in India can register a One Person Company anywhere in India. Non-resident Indians (NRIs) and foreign nationals cannot set up an OPC in India.

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