Registering a company in India has become easier than ever before. If you follow just four main aspects, you will quickly know every detail whether you are searching for how to register a private limited company or any other business structure. Registration of the company has shifted online, thereby making the process more user-friendly and flawless!
What Documents are Required to Register a Company in India?
The government has introduced a Simplified Proforma for Incorporating a Company Electronically (SPICe), an integrated single-point application that enables the stakeholders to carry out legalities of company registration. The portal can be used to complete formalities such as Company Name Registration, Allotment of DIN (for Directors and Incorporation) along with allotment of Permanent Account Number (PAN) and Tax Collection and Deduction Account Number (TAN) to the new company. Following documents are needed to be submitted while registering a company in India.
Documents Required for Company Registration from Shareholders and Directors
A. Identity Proof Documents
1. Permanent Account Number
2. Aadhaar Card / Passport / Driving License / Voter Identity Card (at least one from the list)
B. Address Proof Documents
1. Telephone Bill / Mobile Bill
2. Electricity Bill / Water Bill
3. Copy of the Bank Passbook with latest transaction entry or Bank Statement (not more than 2 months old)
C. Passport size Photographs (3 each)
Important note: All the documents mentioned above must be Self Attested by the stakeholders involved. It is also advised to submit the latest documents and the telephone bill; the electricity bill should not be older than 2 months.
How to Register a Company Online?
There are four things to keep in mind if you are worried about how to register a company in India online.
1. Director Identification Number (DIN)
The Director Identification Number (DIN) is one of the most important documents needed to be submitted to the authorities. It is an identification number for the company’s director, and it must be obtained by anyone who wants to be the director of the company.
2. Digital Signature Certificate (DSC)
As the company’s registration is an online procedure, the company’s stakeholders need to have digital signatures on the various forms to be filled at the MCA portal.
3. Registration on the Ministry of Corporate Affairs (MCA) Portal
The SPICe+ form and the necessary documents must be submitted on the MCA portal to apply for the company registration. To ensure that this is carried out seamlessly, the company’s director must first register on the MCA portal and then gain access to different services such as filling of forms and viewing other public documents electronically.
4. Certificate of Incorporation
Last but certainly not least, once the documents are submitted, the Registrar of Companies examines the application. If it is successful, the Registrar issues a Certificate of Incorporation of the Company.
Benefits of Company Registration in India
There are plenty of advantages of company registration for the business and business stakeholders in India. These advantages go beyond financial benefits and are essential for the future of the business owner and the organisation. Some of the highlighted benefits are:
Separate Legal Entity: Under the Companies Act, 2013, a registered company is a separate legal entity (from its directors and shareholders) and has its existence from a legal perspective. An incorporated company has its assets, debuts, and legal proceedings and thus, the liabilities of the individual company members are thus limited to the company debtors and creditors.
Perpetual Succession: As the word suggests, the company’s existence is everlasting even if the directors, members, shareholders change once the company has been registered. So long as the entity is compliant with the Companies Act, the incorporation will remain active.
Transferability of Shares: Once registered, the company’s shares can be transferred easily amongst different promoters and business stakeholders and the public as well in the case of a publicly listed company. There are few restrictions in a private limited company, but there can never be a complete ban on shares.
Guidelines About How to Choose Your Company Name
Choosing the right name for your company is significant as it will also become the brand identity of the business going forward. Registering the company name is easy, but there are few critical points that the applicant must keep in mind.
The applicant must be aware that the proposed name should not match precisely with an existing name of any Limited Liability Partnership, company or Trademark.
The format of the company name has to follow the guidelines as prescribed in the law. For example, a Private Limited company should have the name in the form of” ABC Pvt. Ltd.” Similarly, an OPC will have to register a name such as “XYZ (OPC) Private Limited.
Generic names that may be related to a place are prohibited.
The proposed name cannot include offensive words or violate the emblems or trademarks.
1. How to register a company name?
There are few necessary steps that the business owner must take to register the company name. The applicant (anyone on behalf of the company) must use the Reserve Unique Name (RUN) service on the MCA portal to reserve the desirable name.
2. How to check if a company is registered?
The person must visit the MCA portal to check if the company is successfully registered or not. Then, the person can visit the portal and click the “MCA Services” tab, a drop-down list with “View Company/LLP Master Data” options. On entering the company’s CIN number, the portal site will display the company’s exact registration status on the screen.
How to Register a Private Limited Company in India
Following are the steps to register a Private Limited Company in India.
1. Put an application to get the Digital Signature Certificate
2. Apply for the DIN (Director Identification Number)
3. Check and send an application for the name availability
4. File the EMoa and EAOA to register the private limited company
5. Application for the PAN and TAN of the company
6. Get the Certificate of incorporation, issued by the Registrar of Company and PAN and TAN.
7. Open a current bank account in the company name.
How to Register a Proprietorship Company in India
Unlike other types of businesses, the proprietorship is the most straightforward company to register in India. To register the proprietorship company in India, the applicant needs to have the following documents ready – Aadhar card, PAN card, Bank Account and Registered Office Proof.
1. Open a Current Account in the name of the Company name in any Bank.
2. GST Registration (depends on the type of business)
3. Shop Act License
4. MSME Registration/Udyam/Udyog/SSI Registration.
5. IEC Code (Import-Export) FSSAI/Trademark
How to Register a Start-up Company in India
The following steps are needed if you want to register your start-up company in India.
Get the Incorporation/Registration Certificate of your start-up
Details of the Directors
Proof of concept like pitch deck/website link/video (in case of a validation/ early traction/scaling stage start-up)
Register Your Start-up with Start-up India
Get DPIIT Recognition
Patent and trademark details (Optional)
PAN Number
How to Register a Construction Company in India?
In India, construction business can be carried out in the private sector and the government sector. Construction businesses are capital intensive, and thus the business directors may be required to buy the equipment and ensure the labour procurement needed to deliver the projects.
Construction companies can be registered in the following business structures – Proprietorship Firm, Partnership Firm, Limited limited partnership, Private Limited company, and Public limited company.
Check-list for Registering a Construction Company in India
1. Decide the name of the company
2. Objects of Company should have Construction and Infrastructure Activities
3. Following documents are required for registration of a construction
Pan Card, Aadhar card
Bank Statement with current address
Photographs
Mobile no, Email id
Electricity bill office address
Rent agreement office address if office address is on rent
NOC from owner
4. Open a bank account for a company
5. Submission of incorporation application for registration of a Private Limited Company
6. Registration of Private Limited Company by the registrar of Companies
Comments