There are lots of benefits of getting your company registered.
Company registration is the first step to start a business in India. It is required to form a separate legal entity for running your business, and it’s also necessary for anyone who wants to start a new venture or expand an existing one.
The process of company registration involves filing the required documents with government agencies such as ROCs (Regional Offices of Companies) or registrars (officials who are responsible for registering companies).
Procedure for Company Registration in India
- Step 1: Choose a Name for Your Company
You can choose from any name, but it must be unique and not already in use. If you have register a company previously, try to avoid using the same name as your previous one.
- Step 2: Fill in the Application Form
Fill out all fields marked with an asterisk (*) on the form and make sure you sign off at the bottom of each page. You may also need to provide proof that you are qualified to carry out business activities (for example, if you are applying as an individual).
- Step 3: Pay the Fee and Submit Your Application Form
Documents for Company Registration
The required documents for the company registration in India are:
- Company registration form.
- Certificate of incorporation (corporate).
- Resolution for the formation of a company.
- Certificate of commencement of business (incorporated).
- Articles of association, memorandum and provisional certificate, members’ resolution to amend the memorandum and articles etc., if any.
Difference between a One Person Company, Private Limited Company and Public Limited Company
A one person company is a company that is owned by one person. It can be registered under the Companies Act 2013 and comes with all the benefits of being a private limited company ( LLP). However, it does not hold any shares to issue new shares in future which means you cannot sell them off or trade them on a stock exchange like an IPO or secondary market.
One person companies are not allowed to issue shares while private limited companies can issue up to 100% of their paid up capital as well as borrow money from financial institutions. Private limited companies must have at least two directors who must be Indian citizens or residents but there are no restrictions on shareholding by foreigners in public limited companies if they are resident here
Advantages of Registering a New Company in India
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There Are Lots of Benefits of Getting Your Company Registered
There are lots of benefits of getting your company registered. Here are some of them:
- You can get a PAN card for your company
- You can hire employees and pay them salary
- You can start doing business
- You will be able to get bank accounts, cheques and other banking facilities
Conclusion
In short, registering a company is a great idea for companies that want to grow and create jobs. It’s also an important step if you want to sell your business or if you want to start an LLC in India. If you do decide on this option, there are plenty of things to consider when setting up your business. The first thing is deciding what kind of structure will work best for each type of business plan – private limited or public limited (PLC). This can be done by looking at what differentiates between these two options as well as considering how much money each type costs
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