What is Company Registration Process?
The Private Limited Company registration process is an online process under the initiative of the Ministry of corporate affairs. Planning to start a company the Private limited company is strongly recommended for startups due to ease of operations and access to a venture fund. Enterslice lends a hand to start-ups across India and provides premium advisory services for Startup Company registration, Corporate Income Tax, Preparing Business Plan, Investor Deck, Registration under Startup India, and also in designing an investment-friendly corporate structure.
Therefore, for the better understanding of online Company registration process, we have drafted 25 FAQ at the end of the page. Into the bargain, if you need a detail explanation on Company Registration process, Cost and Timeline, please fill your details above and click on Get Started button or email at email@example.com and our expert will send you a service brochure about the pros and cons of starting a company in India.
Therefore, for the better understanding of online Company registration process, we have drafted 25 FAQ at the end of the page. Into the bargain, if you need a detail explanation on Company Registration process, Cost and Timeline, please fill your details above and click on Get Started button or email at firstname.lastname@example.org and our expert will send you a detailed brochure about the online Company registration process.
Know Simple 7 Steps to register a company in India
Launching Own startup is more of a passion and we argue to start a business with a mission to bring change in Product or services. The Business idea should have the ability to go viral and solve problems. The Business registration in India has been simplified under the initiative of the Ministry of Corporate Affairs.
Step 1 – Select a Right Business structure
- One Person Company Registration - In OPC Structure you will get almost all the benefits of Private Limited Company so it is advisable to start a Sole Ownership in case you are not willing to share ownership.
- Private Limited Company Registration - Private Limited Company is a most popular business structure in India, Startup always runs towards the Pvt Ltd Company registration. PLC has separate existence than its Members and Directors. Venture Capital fund is easy in Pvt Ltd Company
- Limited Liability Partnership Registration (LLP) - LLP is suitable for Consultants, Advisors, and Lawyers/Professionals. LLP registration is very pocket-friendly in terms of increasing the Capital, Annual returns and legal compliance etc.
Want to know more about Business Structure Request a Call Back
Step 2: Select a Brand name and Legal Name
After you finalize the business structure next step is to finalize a brand name and company legal name in Consultation with a CA/CS
Step 3: Hire A CA & CS
Prefer to hire a CA / CS who can work with you with long term vision as if you have a CA who understands your business well then you can grow well.
Step 4: Digital Signature Certificate (DSC)
All Proposed directors of the Private Limited Company should have a digital signature that will be used to file the online Company Registration application and in future, you can use same DSC for a signing of ROC compliance e-forms, and E-Income Tax returns
Step 5: Name Approval
We believe that you will select Enterslice for Company registration, we shall ensure to file Name Approval Form (RUN) in Just 2 working Days
Step 6: Submission of Final Incorporation form along With MOA & AOA
After Name Approval, we need KYC, Photo and Address proof of Directors & Shareholders, Our Team will submit Spice e-form to MCA in 3 days you will get Certificate of registration along with PAN & TAN in Maximum 5 Working days.
Step 7: Bank Account & GST Registration
Open your bank Account and Launch Your Startup
Documents required for Online Company registration
A. From Members and Directors (Self-attested)
- PAN Card of Members and Directors.
- Aadhar card.
- Election ID Card / Passport.
- Scan copy of Photographs.
- Latest Bank statement not older than 30 days.
B. For Registered office
- Rent Agreement on the name of Company.
- Utility bills (Not older than 30 days).
Advantages of Private Limited Company Registration
- Limited Liability - Liability of Members and Directors of the Private Limited Company is limited to the number of shares. This means that if in any case company suffers from any loss and faces financial distress because of primary business activity then the personal assets of Shareholders/Members/Directors will not be at risk of being seized by banks, creditors, and government.
- Continuity of Existence - The life of a business is not affected by the status of shareholders and even after the death of the shareholder; the private limited company continues to exist.
- Scope of Expansion - The Scope of expansion is higher because easy to raise capital from a venture capitalist, angel investor, financial institutions and the advantage of limited liability. The Private limited company offers more transparency in the company.
- Brand Value - In comparison to Sole Proprietorship, Private Limited Company has more value as it owns a separate legal entity managing affairs on its own name.
- Valuation and Customer - Valuation is an important aspect of the company and high valuation comes from loyal customers. You should work on a business model with a higher lifetime value of a customer; Entrepreneur should focus on higher assessment of the company by offering the unique value proposition to the customer's life.
Starting a company by foreign national
Indian is among the 6th biggest economy of the world. In most of the business sectors and as per government recent notification, FDI (Foreign Direct Investment) from 26 % to 100% is allowed. 100% FDI is allowed in NBFC & Payments business, Software, Business support, Trading, and Manufacturing. As a foreign entrepreneur if you are planning to apply for online company registration in India then the registration process is the same as it for Indian citizen. You simply need one Indian Resident director to initiate the Company formation process in India.
10 Things to do After Private Limited Registration
1. Call 1st Board Meeting for Appointment of Auditor.
2. Open Bank Account.
3. Trademark registration.
4. GST Registration.
5. MSME Registration.
6. The issue of Share Certificate to the members.
7. Finalize the founder's agreement.
8. Prepare Employment agreements.
9. Draft Company policies and SOP.
10. Launch your product / Services.
Do I need to issue Share Certificates to my Co-founders after Company Registration?
Yes, you can issue share certificate to the co-founders after the company registration complying the followings
- Share certificate to members/Co-founders must be issued within 60 days from the incorporation of a company.
- In case transfer of shares to Non-Members Within the period of 30 days from the receipts of transfer letter.
- Conduct a board meeting and form an allotment committee.
- Need to prepare the register of members.
- Printing of share certificate.
- Intimation and dispatch of shares.
Know 6 Steps to Check Company Registration Status
India is among a very few countries where company data is easily available for public view. From the Public view, you can find Directors details, Balance sheet/Annual returns or Charge status. At below, we tried to explain to you to verify the company registration status as well compliance status of the company.
- Visit www.mca.gov.in.
- Click on MCA Services.
- View company master Data.
- Type Company name.
- ROC will display Company details.
- Check company registration & Compliance status.
Can I apply for Start-up India Program after Company Incorporation?
Start-up India programs are available for emerging startups having a capability of generating employment and solving problems of the mass appeal. Here, eligible startups can easily apply under this program. Subsidies under the Startup India program will cease to exist in case the company crosses the 25 Cr annual turnovers in a financial year. The following are the benefits of Registration under the Start-up India Program
- 0% Income Tax benefits for 3 Years.
- 0% Tax on Capital Gain.
- All government approvals from one Web Portal.
- Fast-track processing and 80% rebate on Startup Patent Registration.
- Free Legal Agreements.
- Start-up Funding.
- Free Mentorship and Access of knowledge.
14 Mandatory Compliances for a Private Limited Company
Enterslice has been supporting thousands of startups like yours; you can subscribe to our annual compliance package. Below is the annual compliance checklist for small companies (Capital below Rs 50 Lac and turnover below Rs 2 Cr)-
- Appointment of Auditors with 30 days from the date of company registration.
- Minimum 2 board meetings in every 2 quarters.
- GST Payments on Monthly / Quarterly basis
- Monthly TDS Payments
- Quarterly TDS Returns
- GST Annual Returns
- Conduct 1st AGM within 15 months.
- Filling of Annual returns MGT-7, AOC-4, MBP-1, and DIR-8.
- Director reports about the operation and performance of the company.
- Maintenance of statutory register etc.
- Circulation of Financial Statement other documents to members and directors.
- Filing of Income tax returns by or before 30th September of following financial year.
- Filing of Tax Audit report to Income tax department (in case Gross receipts is more than Rs. 1 Cr)
- Income tax Assessment