For Starting a Business | Company Registration in India
For
starting a business, one has to select a structure it shall be operated in. It
can be a sole proprietorship, Partnership or a Company. The selection must be
made after scrutinizing the pros and cons of the structure and type of
business. Example- an individual, who wants to operate alone, has an option of
sole proprietorship and One-person Company; a group of individuals who want to operate
without forming any legal entity have an option to form an LLP or partnership.
Though
it is hard to argue that if a business has to be started with an aim to expand
in the future and have stability in operations, the structure best suited is a
Company. Thus, for those having long-term plans which involve a good amount of
investments, registration as a company
is the best option.
What is the procedure for company
registration?
1. Obtaining
the Digital Signature Certificate for all
the proposed directors which will be required to file the application for Private Limited Company Formation in India, return filings, ROC compliances etc.
2. The proposed name can be reserved for company registration either through
a. Reserve Unique Name (RUN) service on the MCA portal, or
b. Along with SPICe form, as explained
in the next step,
3. Simplified Proforma for Incorporating Company Electronically
(SPICe)- this form integrates 5 different services being Name Reservation,
Allotment of DIN, Incorporation of New Company, Allotment of PAN and TAN.
4. Then the Registration Certificate shall be issued along with
CIN, PAN and TAN.
1. Memorandum of Association and Articles of Association,
2. Affidavit and declaration by first subscriber(s) and
director(s)
3. Proof of office address - A
conveyance/lease deed or rent agreement with receipts and NOC, whichever
applicable along with copy of utility bills.
4. PAN card, proof of identity and
address of all directors.