Introduction:- Registering a company in India is very easy. The company registration process is completely online through MCA portal. Registering a company brings additional benefits to the company. Registering your company enhances your company’s reputation. In India, companies can be registered in various types such as LLP, Partnerships, OPC and so on. Setting up a limited liability company is one of the highly recommended ways to set up a company in India. If you decide to set up a company, first and foremost you need to choose a favorable corporate structure for registering your company in India. Choosing the right corporate structure affects many factors, including the company name, liability, taxes and legal requirements. The financial and operational success of a company depends on the business structure of the online company registration process in India. One of the most commonly mentioned legal options for Indian companies is the registration of the company. Start-ups and future companies usually prefer to register as a limited liability company because it is easy to raise external capital. It limits shareholder debt and also allows them to offer employee stock options (ESOPs) to attract talented people. Registering a business requires a step-by-step process. If you want to set up a company in India, be sure to get an online company registration from an expert.
Benefits of company registration in India:
There are many benefits to registering a company. It can help your company:
• To considered Separate Legal Entity.
• To protect from personal liability and secure protection against other risks and losses.
• In Tax benefits for directors of the company.
• To attract more customers.
• To build its brand.
• To be a global range with the help of the structure of the body.
• Improving trading to suppliers, industries, providers, and customers
• The registered company can make a lawsuit or a lawsuit on its name. Entrepreneurs’ name is not used here.
• It is easy to distinguish from others by entering a business environment.
• Capital contributions and stability can be enhanced.
• Improve growth potential and further expansion.
• Reliable investors can easily raise procurement and investment of bank loans.
Different types of Companies:
- LLP
- Private
- OPC
- Proprietorship
Checklist for registering a company in India:
We recommend that you review the following checklist before proceeding with the registration process.
• People / director: Section 149(1) of the Companies Act, 2013 requires that every company shall have a minimum number of 3 directors in the case of a public company, two directors in the case of a private company, and one director in the case of a One Person Company. A company can appoint maximum 15 fifteen directors. If the shareholders are foreigners, they are required to show their passports. A company may appoint more than fifteen directors after passing a special resolution in general meeting and approval of Central Government is not required. A period of one year has been provided to enable the companies to comply with this requirement.
• Unique name: The company name must be unique and the proposed name must not be similar to an existing company. In addition, you should check the trademark registration to make sure its name is not similar to a registered or pending trademark in India. The name of the company must not violate the provisions of the Intellectual Property Law in force in India. The name must not violate Indian copyright or trademark law.
• Capital requirements: The investment must be made according to the needs of the business and there is no minimum capital requirement for the company. However, government fees are also added when measuring capital. The minimum capital requirement is taken into account.
• Registration office: No commercial space is required for registered office. Rented space can also be the registered office, but you need to get a NOC from the landlord.
By registering a company, startups can gain an advantage over those who have not registered, so they can enjoy various benefits. The process of registering a company can be complicated for some because it requires a variety of compliances.
The following describes the company registration process:
• Apply for DSC (Digital Signature Authentication): The first step in applying for company registration is to apply for a Digital Signature Certificate (DSC). Digitally signed certificates are legal documents used to verify information. Digitally signed certificates are typically used to sign some electronic documents. Therefore, when starting a business, remember to apply for a DSC with the Ministry of Corporate Affairs (MCA).
• Apply for DIN (Director Identification Number): After applying for DSC, it is important to apply for a director identification number, also known as DIN. DIN indicates that the company meets all requirements when hiring directors. Applicants for company registration must apply for the company’s board identification number.
• Company name availability: The next step is to confirm the company name. This process is mandatory when registering a company. Upon confirming the company name, the portal will notify you if the name has already been selected and if it violates the applicable provisions of the Intellectual Property Law in force in India. You can check the availability of your company name online at the MCA portal.
• Articles of Incorporation and Online Filing of Articles of Incorporation: Applicants for company registration are required to submit documents such as memorandums and articles of incorporation online. Submitting these documents provides legal certainty regarding the establishment of the company. This process must be completed through the Ministry of Corporate Affairs portal.
• PAN and TAN applications: After all submissions have been completed, applicants should consider applying for PAN and TAN numbers.
• Incorporation certificate: After completing the above procedures, the MCA and ROC will review the application and if there are no problems, a corporate establishment certificate will be issued to the applicant. The Articles of Incorporation are legal documents that give a company some legal status.
Required documents for online company registration: There are certain important documents required for the registration process, they are:-
• A copy of the director’s PAN card or passport (foreigners and NRI)
• Two passport photos of company directors
• Identification cards such as Aadhaar cards and voter IDs for directors
• A copy of the address proof rental agreement or title paper
• Business office electricity or water bills
• Landlord NOC for rental offices
• In the case of a movable property, a copy of the sale certificate or ownership certificate
• If you are a foreigner, you will need to provide an officially certified copy of your passport. Only valid documents need to be submitted. Residence certificates, such as bank statements and utility bills, must be within two months.
• Registered office certificate
Note:- To obtain a company registration in India, your company needs a registration office. You must present an up-to-date copy of your electricity or property tax receipt or water bill as proof of the functioning of your headquarters. With a lease, utility bill or certificate of sale, and a letter from the landlord agreeing to register the address as a registration office.
The experts of Legal Litigator helps companies & startups for their registration work. Legal Litigator is a place dedicated to professional excellence, personal and high quality service and effective, solution-oriented advocacy. We deliver quality work, personalized service and extraordinary value to our Clients. You can Contact us for your company registration.