Register a One Person Company in Kochi, Kerala
In the state of high literacy rate, there is no shortage of creative and valuable business ideas. There is a number of aspiring entrepreneurs here who are just waiting for somebody to join them so that they can start a private limited company. However, with the introduction of the concept of One Person Company all of them are enabled to give a head start to their business without pooling any second person. Possessing all the features of private limited company this business structure is a kind of private limited company with one member.
Requirements for registering One Person Company in Kerala
- 1 shareholder/member
- 1 director
- The same person can act as a director and shareholder of the company.
- This company structure can only be incorporated by a natural and Indian resident person.
- 1 nominee director to take up the business of OPC in case a sole member dies.
- Maximum capital allowed is 50 lakhs while the turnover cannot exceed from rupees 2 crores.
In case the one person company ceases to comply with the sixth condition it will be straightforwardly converted into a private limited company.
Benefits of Registering a One Person Company in Kerala
If you desire to incorporate a company on small-scale One Person Company is an ideal option for you. It offers the host of benefits for every person desiring the OPC registration in Thiruvananthapuram (Kerala). Some of these benefits are as follows -
- With OPC registration comes the separate legal entity for the business from its owner.
- The liabilities of the members of OPC are limited to their share only.
- This structure enjoys perpetual succession i.e. the company can exist even after the director has passed away.
- It offers ease of formation as compared to other company structures.
- The compliances requirement for OPC is very low as compared to many other structures.
The process of One Person Company Registration in Kerala
According to the Companies Act 2013 there is a complete step by step procedure that is required to be followed by every One Person Company in Kerala. Below we have listed out the steps involved in this procedure briefly-
- Gathering all the documents required.
- Obtaining DIN and DSC
- Acquiring name approval through RUN
- Filing incorporation forms with MCA
- Getting the certification of incorporation after submitting the application with MCA.
It is not as easy to incorporate a One Person company in Kerala as it appears. However, the incorporation experts at Registrationwala can make it simpler for you.