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If you are on the verge of starting a business, then you must read this blog about the business commencement procedure. This blog can provide you with all the information on the Private Limited Company incorporation procedure. A private Limited Company is one of the most preferred types of business entities. Also, through this blog, you would get to know about the other type of business entities. The information will enhance your knowledge to help you decide which type of entity you finally want to go with.
Worrying about how can you incorporate a company of your own? Don’t worry we will help you. Also, we will help you gather and file all the documents with the concerning government authorities. You just have to follow the Company incorporation procedure as mentioned in this blog post.
Table of Contents
There more than one type of business entity an entrepreneur can choose from these types to incorporate its own firm. The types of business structure include the following;
But the most preferred form of business organization is a Company because it possesses numerous benefits over the other entity types. Also, there are different types of companies and each company type has its own advantages and disadvantages. You should have the knowledge about all of them beforehand and know the type which would be most suitable for your business model. But before going deep into the incorporation procedure of the private limited company, we would first get to know about the different types of companies that can be incorporated through the SPICe form.
There are certain pre-requirements of incorporating a company, before filing the SPICe Form. These pre-requirements include;
Step by Step Procedure to Incorporate a Private Limited Company
Earlier the process of incorporating a company was a very lengthy process and it used to take as it involved the filing of numerous forms. But with the introduction of the SPICe form, the process was all digitalized and hence, the time period was reduced. The full form of SPICe is Simplified Performa for Incorporating Company electronically. You need to follow these steps to set-up your Private Limited Company through the SPICe form;
First, you need to obtain the DSC from an authority authorized for issuing DSC for the proposed directors and subscribers of the company.
Read, More: Private Limited Company Incorporation in India.
Then you need to register your DSC on the MCA’s website.
You need to check the names that you are thinking for your business must not be a one that already exists in the MCA’s records. Also, check that the name you applied for is not a trademark under the specified class.
You can apply for the application for getting a name for your business through the RUN web service on the MCA’s website along with the fees which are Rs. 1000.
You can also apply for a business name directly in SPICe form. However, applying for a business name through RUN is a better option as it takes less time than the SPICe form method.
After the approval of the business name the Registrar of Companies {RoC} issues a Name Availability Letter with respect to approval for availability of the name for a proposed company which will be valid for 20 days from the date of approval. Within those 20 days, the company needs to file the SPICe form {INC-32} for getting their company registered. Otherwise, the company’s approved name will be canceled and all the pre-registration steps would have to be repeated again from the start. The full form of RUN is Reserve Unique Name.
After incorporation, there are numerous requirements to be fulfilled for a company. These requirements include;
If you are thinking of starting a business and if you are looking for a company that can help you with incorporating your business, stop searching because Enterslice is the best option for you. The company incorporation procedure is now even more simplified with the SPICe form, so you wouldn’t face any difficulty after you have given the command to us. We expertise in incorporating all types of business entities so you can be assured and rely on us. Connect with Enterslice to know the complete Company Incorporation Procedure.
Recommended Article: Registered Office Requirement for Private Limited Company.
Tanya is working as writer & editor from past 2 years with experience in covering startup and technology related topics.
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