One Person Company (OPC) Registration in Vadapalani - Filingpoint


Welcome to Filingpoint One Person Company Registration Expert +91 72999 72500

Filingpoint One Person Company Registration in Vadapalani is a form of business entity that allows entrepreneurs to operate their businesses with limited liability protection. This is possible by registering the business as an OPC under the Companies Act, 2013. The process of OPC registration is similar to that of a private limited company with fewer compliances and exemptions from certain restrictions.

During the OPC incorporation, the member has to appoint a nominee who will be responsible for handling all activities of the company in case of death or incapacity. This requirement of a nominee makes the OPC a separate legal entity and offers a degree of peace of mind to the owner as his personal assets are not at risk of being used to pay debts of the company.

Another advantage of OPC registration is that it does not require a minimum paid-up capital and does not have to file financial statements. This makes it a great option for small businesses that may not need the level of reporting required by other forms of business.

It is important to note that OPCs are not allowed to conduct banking and insurance business. Additionally, if the OPC's total paid-up capital exceeds Rs 50 lakh or its average annual turnover crosses 2 crores, it must be converted into a private limited company to meet regulatory requirements.

Contact Filingpoint One Person Company Registration Expert +91 72999 72500

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