Are you aware of the benefits of company registration?

Do you want to register and scale up your business?

If you say “Yes”, you have landed in the right space. Here, we will tell you what are the advantages of company incorporation and how you can do the company registration. If you register a company, you save yourself from penalties and fines. You get the legal right to operate and scale up your business. A company is registered at the office of the Ministry of Corporate Affairs. The good thing is that you can do the company registration online with a few clicks on the mouse. Here are some notable advantages of company registration –

1. Company incorporation protects you from personal losses/risks

2. It helps you to raise the capital from the bank

3. It helps you to gain more customers as it builds goodwill and trust among customers

4. If you are a registered entity, you get support from reliable investors

5. You get the legal entity status

6. There can be an easy change in ownership and management

7. A public limited company can raise money from the public.

To register your company and stay on the right side of the regulation. Now, we will tell you how you can register a business in India. If you are looking to register your company as a sole proprietorship, you just need service tax registration that can be done with the help of an Aadhaar Card, PAN Card, and office address details. But if you have 2 or more than 2 members in the company, we would suggest you go with private limited company registration. Here’s how you can go for private limited company registration –

Step 1 – Get Digital Signature Certificate

Step 2 – Apply for Director Identification Number (DIN)

Step 3 – Check name availability & implement it

Step 4 – File Memorandum of Association (MoA) and AoA (Articles of Association)

Step 5 – Get TAN & PAN of the company

Step 6 – Submit the certificate issued by the Registrar of Companies

Step 7 – Now you need a current bank account with any bank

The process is simple, still, if you face any difficulty, you can take the help of a legal consultant. The consultant will do the work. You in that case, just need to submit the documents to the company and pay the company registration fee, which is nominal. Now let us the list of documents that you need for company registration –

The following documents need to be submitted by shareholders and directors (Indian Nationals)

1. PAN Card scanned copy

2. Voter’s ID/Passport/Driver’s License scanned copy

3. Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill scanned copy

4. Passport-sized photograph scanned copy

5. Signature (blank document with signature [directors only])

Note: Any of your directors need to self-attest a minimum of 3 given documents

The following documents need to be submitted by shareholders and directors (NRIs)

1. PAN Card scanned copy

2. Voter’s ID/Passport/Driver’s License scanned copy

3. Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill scanned copy

4. Passport-sized photograph scanned copy

5. Signature (blank document with signature [directors only])

Note: It is necessary to notarize all the documents (if NRI is currently in India or a Commonwealth country). The above-mentioned documents must be notarized and apostille or attested by an Indian embassy (if in a non-Commonwealth country).

The following documents need to submit by shareholders and directors (Foreign Nationals)

1. Scanned copy of Passport

2. Scanned copy of Voter’s ID/Passport/Driver’s License

3. Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill

4. Scanned passport-sized photograph

5. Specimen signature (blank document with signature [directors only])

Note: All the documents must be notarized (if NRI is currently in India or a Commonwealth country). All the documents must be notarized and apostille or attested by an Indian embassy (if in a non-Commonwealth country).

Office Address Proofs

1. Latest Electricity or Water Bill scanned copy

2. Notarised Rental Agreement scanned copy

3. Latest Rental Receipt scanned copy

4. Sale Deed/Property Deed in English (in case of owned property) scanned copy

5. No-objection Certificate from property owner scanned copy

Note: Notarized documents are required (if NRI is currently in India or a Commonwealth country). Also, the documents should be notarized and apostille or Indian embassy attested (if in a non-Commonwealth country).

Also, you have to ensure that you have the following things before you start a company.

2 Directors – Yes, you need two directors and 1 among these should be a resident of India

Unique name – We believe you have a unique business name in your mind. But you need to ensure it should not match with other business name or trademark.

1 lac minimum capital – Rs 1 lac authorized capital

Registered Office – You need to have one registered office of the company. Don’t worry, even rented accommodation can be used as a registered office. Only you need to showcase the NOC of the landlord.