It is recommended to set up a private limited company when beginning a business in India. LP is a company where shareholders have limited liability and certain ownership restrictions. The company has partners who own and manage the business. Generally, directors and shareholders are different in private limited companies.
Become a company today to get tax advantages and funding.
Company registration in India is simple and quick with Vakilsearch, an international legal consultancy
- Ensure that your company’s directors are registered with the MCA (Ministry of Corporate Affairs).
- Find out how to pick a company name.
- Ensure that your company’s constitution (MoA and AoA) is in order.
Upon successful registration, you will be issued a Certificate of Incorporation (CoI), a PAN, and a TAN. Your business can begin operations the moment you receive a Certificate of Incorporation and open a bank account.
In India, you can register your company for many advantages. Benefits
Incorporating a business has many benefits. A registered company is trustworthy.
- Liability coverage protects you against losses.
- This will encourage repeat business.
- Making investing easier by facilitating deals with good investors. Securing your assets.
- Better capital contribution and stability Improves growth and expansion potential, but you’ll also get a zero balance current account
We have provided you with a checklist to start a business in India
In order for a company in India to be registered under the Companies Act, 2003, these conditions need to be met.
Board members include the following:
Companies with more than 15 directors must have a minimum of two. Directors of companies in India must be residents.
Name that is unique to each individual
You must name your business uniquely. There should be no similarities between the names and trademarks of existing companies or trademarks in India.
Minimum capital contribution:
Companies do not have a limit on their capital. A company needs at least one lakh rupees in approved capital.
Office of Registration:
An organization’s registered office need not be a commercial building. A landlord’s permission is required if you wish to register from a rented home.
Are you familiar with online business registration? The procedure involves a few steps.
Registering your business in India is essential for your progress and gives you an edge over unregistered businesses. Registration of companies is overseen by the Ministry of Corporate Affairs, which outlines rules and regulations in accordance with the law.
- Applications for Digital Signature Certificates (DSC) are the first step.
- Next, obtain the Director Identification Number (DIN)
- Request a name.
- A process of incorporating a private limited company by filing EMOAs and EAOAs
- obtaining PANs and TANs
- The Chartered company form comes with a tax identification number issued by the Registration Office of Canada
- Create a company bank account
Make sure your company is listed online before registering
When registering a company, it’s important to check whether the name hasn’t already been taken by another legal entity. A trademark and MCA search can be run to see if a specific company name is available in India.
It is recommended that companies think of between three and four alternative company names during the approval stage. In order to approve the name, the Ministry of Corporate Affairs must review all rules and regulations around availability.
Even if you were disappointed to learn that your preferred company name had already been taken, remember that the name of your brand does not have to be your company name. If you plan to trademark your brand name, however, be sure that it doesn’t already exist at http://www.ipindia.gov.in/. Using a trademark as your company name requires permission from its owner if the trademark is already registered.
Documents necessary for an online company registration
There is no way to register an Indian private limited company without identification documents and proof of address. It is required that the new company’s directors and shareholders show proof of their identities and addresses. An online company registration requires a list of documents that MCA accepts.
A proof of identity and an address
- The Foreign Nationals’ PAN card or Passport copy (Foreign Nationals & NRIs)
- Copies of voter IDs, passports, and driving licenses
- Recent bank statements, phone and/or mobile bills, energy or gas bills
- – a passport photograph and a specimen signature (blank document with a signature, only for directors)
A notarized or apostilled passport copy must be provided by law to foreign nationals. Ensure that you present only valid documents. Your bank statement or utility bill should be less than two months old.
Registration proof from the office
Companies registered online in India must maintain a registered office there. If you wish to prove the registered office, you will need to submit a copy of the most recent electricity bill, property tax receipt, or water bill. Send a rental agreement, utility bill, or deed of sale, as well as a letter from your landlord confirming that you are using the office as a registered office.
- The latest bank statement, phone/mobile bill, electricity/gas bill
- and the signed rental agreement
- The No-Objection certificate from the landlord, scanned
- Property owners must submit a scanned copy of their deed in English.
The registrant’s office need not be a commercial establishment; it can also be a residence.
Need assistance registering your business in India? We can help!
Since the process of forming a Private Limited Company is entirely online, you do not even need to leave your house. With vakilsearch, we complete Online Company Registration within 14 days.
Company registration with Vakilsearch includes:
- DINs and DSCs of two Directors
- Drafting of memoranda and agreements
- when obtaining a certificate of incorporation
- plus a tax identification number (TAN)
- maintain a balance in a current account without any debt