When a business set up is required to be established there are many options in the market and it can be formed in the form of a sole proprietorship, partnership firm, LLP, company, etc. When a business setter opts to set up a business by the company formation, then, in that case, he/she need to understand the how to formulate a company and register the company.
Forms of Company Registration
A company is legal entity havening perpetual existence independent of its promoters, and is a corporate body having a common seal, has right to hold/sell/buy the property in its own name. It must have two people as the shareholder and director, who can be the same persons. However one of the directors must be resident in India.
A company can be formed in the form of a private company, public company (Listed and unlisted), OPC (one person company).
This further means that the business setter needs to further decide the type of company one wishes to form. The compliance part in the private company is less as compared to a public company, hence it is usually recommended to start with the private company
What is Private Limited Company Registration?
Private Limited Company, is the best corporate structure to start your own business. It can be registered with minimum two members and maximum with two hundred members. The private limited company is juristic, and the liability of members is limited to their shares. The private limited company can be registered within 7-10 days. A private limited company must hold board meeting and file annual returns with MCA (Ministry of Corporate affairs). Private limited company has more credibility than an LLP or General Partnership. Venture capitalist and Angel investor prefers to invest in a private limited company. Approximate every year, more than 100,000 companies registered India.
- DSC and Director Identification Number (DIN)
- Company Name Reservation - RUN one Attempt
- Articles of Association (AOA) and Memorandum of Association (MOA)
- Corporate Identification Number (CIN)
- PAN & TAN
- Free Legal Support for Startups
- GST Extra on Professional Fees.
MCA fees / official stamp duty estimated on the basis of territories.