Company Registration

Introduction

Private limited company is a voluntary association of two or person. It has limited liability, brand recognition and perpetual succession.

What is company registration in India?

It’s a registration act of registration of your business with the government of india.For the startup of new business company registration is very important to be done. By registration of your business it will help the government that your business is not illegal and its exists legally. Those businesses which are not registered under the act will consider being illegal. Through company registration you will easily get loans and government schemes which can be very helpful for the future growth goal of the business. The owner also gets the license for running his /her business legally in the city or country in which it operates.

Benefits of Company Registration in India

• You are at low risk

• You can raise easy capital

• Legitimacy and brand awareness

• Builds goodwill and also supports more customer attraction

• Gives reliable investors bank credits and good investment with ease

• Provides cover of the responsibility to protect the company’s assets

• Bigger commitment to wealth and greater stability

Reasons why you should register your company

• Raising money

• Goodwill

• Better Credibility among customers

• Limited liability of the Promoters

• Perpetual Succession

• No capital constraint

Rules for Registering Private Limited Company

• Minimum 2 directors and 1 shareholder are required.

• Shareholders cannot transfer their shares as per the AOA.

• Maximum no of shareholder is 50 limited.

• General public cannot but share of private limited company.

• Deposits only allowed from the members and directors.

How to register a company/startup in India

The following steps are required for your company registration process given below:

• DSC - Digital Signature Certificate this is the first step for registering a company. You acquire DSC to ensure the security and authenticity of the documents which is filed electronically.

• Director Identification Number (DIN): This second step for registering a company. This concept is first time introduced with the insertion of sections 266 A to 266 G of Companies Act, 2006.

• New account on MCA portal

• Apply for the company to be registered

Documents for Private Limited Company Registration

Documents required before submission of a company:

• Form-1 for incorporation of a company
• DIN of all those directors of a proposed company
• Original copy of formal letter issued by ROC regarding availability of Company name
• DSC - Digital Signature Certificate
• Form-32 for particulars of proposed directors, managers and secretary
• Form-18 for situation or address of the proposed company

Documents required for DSC (Digital Signature Certificate)

For the registration of the company, directors and partners need to use DSC to submit necessary forms to the Indian government. The documents required to get DSC will differ based on the applicants type . Some instructions should follow by the applicant before submitting the application for DSC:

• The applicant should sign across his/her photo in the application form.
• The applicant should get all the supporting documents attested by Bank Manager, Gazette Officer or Postmaster.
• The applicant’s signature must be in Blue Ink.
• The applicant’s signature must be the same as it is in his/her Identity Proof.

Indian Nationals will require the following documents for DSC:

• PAN Card of the Applicant
• Bank Account Passbook
• Address Proof
• Passport size photo
• Post Office ID Card
• Aadhar Card
• Phone number and email id

Foreign Nationals will require the following documents for DSC:

• Attested copy of any other Address proof issued by the Government
• Attested copy of Resident Permit certificate
• Attested copy of Applicant Passport
• Attested copy of VISA
• Address Proof
• Identity Proof
• Attested copy of Applicant Passport

For foreign nationals it’s mandatory to attest their address proof and identity proof by the following authorities are given below:

• Apostilled by Native Country
• Embassy of Native Country
• Consularized by Native Country

Documents required for DIN (Director Identification Number)

Following documents are required for DIN by the Indian nationals are as given below

• PAN card
• Residential Proof:
  • Mobile bill
  • Bank statement
  • Telephone bill
  • Electricity bill
• Address Proof

Foreign nationals will require the following documents for din are as given below:

• PAN card
• Residential Proof:
  • A government-issued form that shows address
  • Residence card
  • Bank statement
  • Driving license
• Address Proof