Register a corporation In India: Most of the entrepreneurs are either coders, marketers, designers, or people from different professions. they could have a stronghold within the technicalities to kick-start a business, but what they lack is that the sufficiency of data regarding basic legalities to start out a business. Having a population of around 138 crores, what India offers to its start-ups is an iota of opportunity and an enormous explorable market. If you would like to determine your business during this market to urge success, the very initiative is that the company registration process under the businesses Act, 2013.
A sound organization structure that has very less complication regarding legal hurdles and offers a correct legal presence of your entity within the Indian market, it’ll assist you run your organization in an efficient way by providing legal recognition, protection, goodwill including attracting the clients and lots of more. If you’re not conversant in the method of company registration, don’t worry. Keep reading this text till the top only to seek out no queries regarding company registration eventually.
Different Business Structure
Before you opt to register your company, an important issue must be addressed, and therefore the point is, what different business structures are there within the marketplace and the way to settle on the proper one suitable for your business? you’ll easily register a corporation online, and therefore the process is as easy as pie, but if you falter anyhow in choosing the proper business structure, facing difficulty within the future would become obvious. this text aims to enable you with the corporate registration process. Still, a fraction of background study regarding the business structure is unavoidable while considering the welfare of your business as paramount.
It is a kind of business where you hold all of your company’s shares, and you’re the only owner of your company. No registration is required for such an entity.
A private Ltd. may be a business model where a business entity is privately held, and every one the shareholders constitute the structure of this company. the corporate registration process for a personal Ltd. under MCA is mandatory.
How to Register a corporation
The documents required for Pvt ltd company registration are:
Self-Attested copy of PAN Card & Aadhar Card of all the administrators and subscribers
Identity Proof (Anyone out of Passport, driver’s license , Aadhar Card or Voter ID)
Residential Proof (Anyone out of statement , Electricity Bill, Telephone or Mobile Bill not older than two months)
Passport size photograph
Director’s telephone number and email address along side other basic details
Specimen signature of the Authorised Signatory for registration under Agile Pro
Proof of office address (Rent Agreement or NOC and Utility Bill not older than two months)
So, the 6 quick steps or the method for personal Ltd. registration are mentioned hereafter:
The new process of Company Registration offers altogether 10 services i.e.:
Incorporation of a replacement company
Profession Tax (Maharashtra)
Bank Account Opening
Hence, it saves tons of processes, costs, and time for starting a personal Ltd. registration.
Obtain Digital Signature – the primary and foremost step for a Pvt. Ltd. company registration in India is to accumulate the DSC or Digital Signature Certificate of a Director and Subscribers to MOA. One can obtain DSC by directly approaching Certifying Authorities (CAs) with original supporting documents and self-attested copies of these documents.
Application for Name Approval – subsequent step privately Ltd. registration is making an application in Form SPICe+ PART A so as to order a reputation for the corporate . The new fields introduced partially A of SPICe+ are-
Class of Company
Type of company
Category of company
Subcategory of company
The main division of the economic activities of the corporate
Analysis of the most division
Particulars of Proposed Names (Maximum Two)
Once the Name is approved, we proceed with the filling of Form SPICE + Part B:
Also Check: How Does Poor Bookkeeping and Accounting Affect Your Company?
- Filling of Online form SPICE + Part B
Through this type we offer the essential details with reference to the Registered Office of the corporate , Director & Promoters of the corporate & Share capital details along side applying for PAN & TAN of the corporate . Once we Pre-scrutiny and Submit this type online, the Four new online forms are visible i.e., INC-9, Agile Pro, Spice MOA & Spice AOA.
INC-9: Form INC-9 with reference to the declaration of the administrators and therefore the shareholders has been generated automatically with all complete details through Form Spice Part B.
- Filling and submission of Form AGILE Pro:
This form has been introduced for providing services with reference to the appliance for Registrations under GST, EPFO, ESIC, checking account Number, and Professional Tax.
Please note that the registration under EPFO, ESIC & checking account opening is mandatory with company registration. However, Professional Tax Registration is mandatory just in case of the corporate having a registered office in Maharashtra. However, GST registration is optional. Form Agile Pro is to be verified by an OTP on the registered Email Id & Mobile No. of the Authorised Signatory.
Once the AGILE Proform is duly filled and submitted, we shall proceed for Spice MOA & AOA
- Formulation of MOA and AOA – Form INC- 33 refers to an electronic Memorandum of Association (MOA) and INC- 34 is electronic Articles of Association (AOA). MOA of a corporation talks about the scope of operations of the corporate , whereas AOA states how the corporate are going to be carrying the operations as per the laid Act. These forms have simplified the method of company registration in India thereby making it easier to Startup a business.
Please note the MOA & AOA shall be physically signed just in case of Foreign Subscribers to the corporate .
- Once all the forms are duly submitted, we shall download the forms, affix the Digital Signature Certificates (DSC) on each of them and upload all the five forms as linked forms.