Company Registration in India
The company registration in India has got been transformed by the government of India from 26th January 2018 to be competitive at the global level and to strengthen the simplicity of carrying out business in India.
The procedure for company registration in India is now incredibly really fast, secure and low cost. For any individual in India, who would like to begin a business/industry in India, company registration definitely will not take much time.
Nowadays, company registration in India takes approx. 8 to 10 days to register and may perhaps cost surrounding 8 to 10 thousand.
Here, we as a leading chartered accountant firm will provide you with an entire platform for company registration in India as well as company registration in Delhi. Our company would take out all kinds of business law challenges and can deal with any of the sophisticated matter. Trustworthiness, deserving, timely notifications, business expansion aspects, and dynamic makeover are a few of the best capabilities of our firm.
Therefore, if you want to have company registration as per the Indian company act; then contact us at the number mentioned in the site or fill online query form where our expert team will revert you with best possibilities.
Checklist for Company registration in India
No. of founders: Deciding on founding members is the essential task because founding members cannot be altered at a later on stage. You must also decide as to how you should divide the equity shares since equity has a straight connection with the ownership of the organization.
Documents collection: Gather all the essential papers of the founding members and get it well prepared. Read the details below.
Company Name selection: After the process of founding members are over, the next step for you is to choose a company name for your company. The company name has to be exclusive.
Capital Requirement: Just after finalizing the name of the company, decide upon the amount of capital to invest in the company.
Registered Office: Once the capital requirement has fulfilled, then proceed to finalize the registered office for the company as per budget anyone can afford as an address must require registering a company. You can do this even at your residence address if you do not have any workplace.
Documents required for Company registration
There is a predetermined set of papers which required for company registration. Here is the list of documents needed for every member of the planned company:
- PAN Card of Members.
- ID Proof (Voter ID, Driving License, Passport, Aadhar card – Anyone)
- Proof of Address (Bank statement, Electricity bill, mobile bill, landline bill – anyone)
- Photograph (passport size)
Apart from the above list of docs, there are more docs required for the registered office of the company:
- Lease Deed (in case office space is on lease)
- Ownership proof
- Electricity bill of the premises
- No Objection Certificate
Here is a couple of recommendations for paperwork for company registration:
- Scan copy of the documents needs to be submitted. No hard copy is required.
- Scan copy of docs must be apparent and observable.
- Do not temper or change any scanned doc. It is punishable by the law.
- Be sure PAN card includes your right and complete name (i.e., a name with surname).
The process, Fee, and timelines for Company Registration in India
1. Apply to get DSC (Digital Signatures Certificates)
Apply for digital signature (generally known as DSC). Digital signatures should be prepared for every promoter since all the particulars are verified using the DSC.
Here is the following process for obtaining digital signatures:
- Choose the service provider, who offers the DSC services like mudra or Sify
- Submit the application form along with ID proof
- Pay the fees which are required.
- Wait for a day to generate DSC.
- When the digital signature completes, move forward to the next step or even you can concurrently go to the subsequent step.
2. Company name availability
The next step you should carry out is to finalize the company name and file the same for authorization. It is one of the essential parts of the company registration process because the name is almost everything in business. The title will reflect your company brand, your website domain name, your visiting cards, etc. Therefore, you must select it sensibly.
Furthermore, make sure that you stick to these guidelines to have an exclusive name which could be accepted by the MCA (ministry of corporate affairs)
Search for Company name: Check for availability of the company name which you are planning to keep if the same is obtainable or not. The Company name search takes place at MCA website.
Trademark Search: The next thing is to do is to look if your suggested name is trademarked or not. A trademark search is a thorough search, and thus, you must do it appropriately. You may also take the help of the professional who offers trademark registration services.
Additional recommendations: Apart from the above, you must keep in mind the following things while maintaining the company name:
- Name of the company should not be too typical as Royal Pvt. Ltd., India Pvt. Ltd.
- Do not make keep any earmarked word like Emblem, President or Prime Minister.
- Generously follow the complete name structure for approval.
3. File the name of the company by utilizing a RUN application
Once you have carefully chosen your company name, the subsequent step is to file the company name utilizing RUN service on the MCA website. It will charge you Rs.1000 and might take a couple of days for authorization.
Vital fact: If the government declines the name, then you will have to re-apply with a different name and additional fees of Rs.1000/-. Therefore, file the name smartly.
4. Prepare for company incorporation
After the name of the company has been approved by the government, the next stage is to prepare for company registration. It is the last and the essential step for company incorporation. Under this step, all the docs are ready and submitted to the registrar of companies. Under this step, SPICE form is made and presented. Here are a couple of things for which you need to take care:
MOA (Memorandum of Association): It consists of the purpose of the company. All the activities must include in the MOA. Always keep in mind; a company cannot do anything at all which is not mention in the MOA.
AOA (Articles of Association): AOA is the bye-laws of the company which consists of all the essential highlights of the company. It consists of the guidelines which are needed to run and direct the company effectively. Draft the articles correctly if you would like to have own rules for the company.
Paid up capital: It is the amount of money which is needed to invest in the firm/company. Be sure to fill up it correctly, since you have to deposit the money in the bank once the company formed.
5. Deposit the application and follow-up
The application needs to submit with ROC using digital signatures. After submitting the form, ROC may raise specific inquiries and inquiries are to be clarified before. Make pretty sure you follow up correctly to prevent rejection.
6. Company registration over
If Registrar of Companies (ROC) founds all the things right, then it will issue the registration certificate for the company. As soon as you get the Certificate of Incorporation (COI), you can start your business activities. Additionally, apply for the PAN & TAN separately.
A further significant point after Incorporation of Company
There are various essential things that you must know to begin the business effectively. We have described the things for you to make you figure out it in an enhanced way. Here are the essential points:
Opening up bank account: After company registration, the next step is to open up the bank account. A bank account can open with any specific bank of your personal preference, and you will need the following documents:
- Certificate of incorporation (COI)
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- PAN Card
- Director Identity Proof
- Director Signatures
Auditor appointment: The appoint the auditor must be done within 30 days of company incorporation. In the beginning, the director employs the auditor. The auditor is a working Chartered Accountant who charges service fees for the services provided.
Infusing finance in the company: All of the preliminary promoters of the organization will have to put money into the company. It is also referred to as an initial capital amount and has to placed in the bank account of the company within two months of the incorporation. Additionally, this amount can utilize for your business operation.