Here we are giving some crucial tips Steps For How To Register a Company/startups In India: TTB Business.
If you are willing to register a startup or a new company in India then you need to record it in Indian official records i.e. Ministry of Corporate Affairs (MCA). One does not need to visit the corporate office for registration as it can be done while sitting at home. The registration includes Digital Signature Certificate(DSC), Director Identity Number(DIN) and filing for an e-form.
Four major steps to registering a company/ startup in India:
Step 1: Acquire Digital Signature Certificate (DSC)
The Information Technology Act, 2000 has provisions for use of digital signatures on the documents submitted in electronic form in order to ensure the security and authenticity of the documents filed electronically.
Step 2: Acquire Director Identification Number (DIN)
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The concept of a Director Identification Number (DIN) has been introduced for the first time with the insertion of sections 266A to 266G of the Companies (Amendment) Act, 2006.
Step 3: Create an account on the MCA portal- New user registration @ mca.gov.in
Step 4: Incorporate or Apply for the company to be registered
List of documents required before submission of a company:
- Original copy of the formal letter issued by ROC regarding availability of Company name
- DIN of all those directors of a proposed company
- DSC – Digital Signature Certificate
- Form-1 for incorporation of a company
- Form-18 for the situation or address of the proposed company
- Form-32 for particulars of proposed directors, managers, and secretary
About the Companies Act, 2013
The Companies Act, 2013 passed by the parliament has received the assent of the President of India on August 29, 2013. The act consolidates and amends the law relating to companies. The Companies Act, 2013 has been notified in the official gazette on August 30, 2013. Some of the provisions of the act have been implemented by a notification published on September 12, 2013. The provisions of the Companies Act, 1956 is still in force.
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Benefits of Company Registration
Registering a company offers many benefits. A registered company increases the authenticity of your business. It helps your business:
- Shield from personal liability and protects from other risks and losses
- Attract more customers
- Procure bank credits and good investment from reliable investors with ease
- Offers liability protection to protect your company’s assets
- Greater capital contribution and greater stability
- Increases the potential to grow big and expand
Checklist for Registering a Company in India
As defined by the Companies Act 2013, we must guarantee that the checklist requirements are met.
Two Directors:
A private limited company must have at least two directors, with a maximum of fifteen. A minimum of one of the company’s directors must be a resident of India.
Unique Name
The name of your business must be unique. The suggested name should not match with any existing companies or trademarks in India.
Minimum Capital Contribution:
There is no minimum capital amount for a company. A company should have an authorized capital of at least ₹1 lakh.
Registered Office:
The registered office of a company does not have to be a commercial space. Even a rented home can be the registered office, so long as a NOC is obtained from the landlord.
How to Register a Company Online – the Registration Process
Company registration in India benefits startups since it offers them an advantage over those who have not registered. The process of registering your company is complex and involves many compliances. However, you needn’t worry as long as you have Vakilsearch as our professionals can help you with every step of the private limited company registration process.
- Step 1: Obtain DSC
- Step 2: Apply for the DIN
- Step 3: Application for the name availability
- Step 4: Submission of MoA and AoA to register a private limited company
- Step 5: Apply for the PAN and TAN of the company
- Step 6: RoC issues a certificate of incorporation with a PAN and TAN
Documents Required for Online Company Registration
In India, private limited company registration cannot be done without proper identity and address proof. Listed below are the documents accepted by the MCA for the online company registration process:
Identity and Address Proof
- Scanned copy of PAN card or passport (foreign nationals & NRIs)
- Scanned copy of voter ID/passport/driving license
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned passport-sized photograph specimen signature (blank document with signature [directors only])
Registered Office Proof
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned copy of the notarized rental agreement in English
- Scanned copy of no-objection certificate from the property owner
- Scanned copy of sale deed/property deed in English (in case of owned property)
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