Introduction to Doing Business in Coimbatore
Coimbatore (or Kovai, as many still refer it to as) is an industrial city in the southern state of Tamil Nadu. The city falls on the banks of Noyyal river near the Sirvuvani waterfalls. The city is famously called the pump city of India because of it’s flourishing motor and pump industry. Coimbatore is also home to a flourishing textiles and engineering industry. In the recent report released by the world bank and Department of Industrial Policy and Promotion, the state of Tamil Nadu jumped up 3 places to rank as the 15th best state in the country in the eas of doing business rankings. Though not a very positive statistic, the two major industrial cities of Chennai and Coimbatore have made continuous efforts to help make drastic improvements. A factor contributing to this improvement is also the ease of Company registration in Coimbatore.
Coimbatore claims to be a “self-made” city in the absence of any patronage from a single public sector undertaking. The city of Coimbatore is also making tremendous efforts in its smart city ventures with plug and play type of manufacturing units among many other innovations. These factors when put together serve as a great motivation to start your business in Coimbatore.
What is a Private Limited Company?
A private limited company, or LTD, is a type of privately held small business entity. This type of business entity limits owner liability to their shares limits the number of shareholders to 50 and restricts shareholders from publicly trading shares.
The Ministry of Corporate Affairs is also making great progress towards cutting down on the processing time of company registration application. The Ministry has introduced the provision of One-Day Company Incorporation with SPICe to make the process of company registration less tedious and hassle-free. You can also look at how much does it cost to start and run a private limited company.
Pre-requisites for Private Limited Company Registration in Coimbatore
- 2 Directors
- 2 Shareholders
- Registered Office Address (Residential/ Non-Residential)
Process for Private Limited Company Registration in Coimbatore
- Apply for Digital Signature Certificate (DSC).
- Apply for Director Identification Number (DIN)
- Get the Name Approval with Registrar of Companies (ROC), Coimbatore/Tamil Nadu. Check out the address for your ROC here.
- Register with the new SPICe INC-32 forms
- Aquire Registration Certificate.
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Declaration and Affidavit by directors and first subscribers
- Proof of Office Address
- Utilities Bills’ Copy not more than 2 months old (Electricity, Gas, Water Bills etc.)
- Copy of approval if the proposed name is containing words/expressions which need authorization by the Central government
- In case of proposed name based upon a registered trademark then it is mandatory to attach trademark registration certificate or trademark application copy
- NOC from sole proprietors partners /associates/ existing company
- Proof of identity and residential address of subscribers.
- Proof of identity and residential address of directors.
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