The founders or directors of a company or business in India must continue playing the “legal game.” Obtaining the documents required for company registration in India is the most important step in starting a business.
All efforts will be in vain if any of the documents required for the registration of a new company in India are incorrect. For a company to be registered, numerous legal formalities must be completed.
Before submitting the documents required for company registration in India, an individual must select the appropriate company structure for their business. The company’s structure should be carefully chosen by the owner because it will enable the business to function effectively and reach its profitability goals. Any one of the following business structures can be used to start a business in India:
Any of the following kinds of company structures can be used:
Following mentioned types of companies can have company registration in Salem.
OPC
Assuming that there is just a single founder/owner of the business, an OPC will be an optimal decision for the company registration in Salem. The sole proprietor will be able to continue working on his business after registering for OPC.
Documents such as a DIN, DSC, or PAN Card, proof of address, identification for each director and shareholder, as well as proof of the company’s address, and a rent agreement (if any) are required for a one-person company to be registered.
Sole proprietorship
A business structure with a single owner is called a sole proprietorship. Small businesses and those with limited capital benefit greatly from this business structure. This can also have company registration in Salem.
In a sole proprietorship business structure, every asset and property belongs to the owner himself.
The enlistment of a Sole Ownership requires reports, for example, Aadhar Card, PAN Card, enrolled office confirmation and financial balance details.
Partnership
Partnerships are business structures with two or more owners. The proprietors of this business structure are known as partners. A written agreement stipulates how the partners will split the company’s profits.
PAN Card and proof of partners’ and company’s addresses, a partnership deed, a registration for GST, and information about their bank accounts are all required for the formation of a partnership.
LLP
A Limited Liability Partnership is a business structure shaped for giving restricted risk to its accomplices. This business structure for company registration in Salem is regarded as a corporate entity by the law.
These business structures were given the authority to handle their own affairs by the act of 2008. DSC, address proof of office and partners, and ID proof of partners are the required documents for registering an LLP.
Private limited company
A company with company registration in Salem is considered a separate legal entity by law from its core founders.
A company will have officers (directors) and stakeholders (shareholders) once it gets company registration in Salem. Every person in a Private limited company gets viewed as the Company’s representative.
DIN, DSC, PAN Card, proof of address, proof of residence, and the Memorandum and Articles of Association are the required documents for registering a Private Limited Company.
Public limited company
Under company law, the company is known as a PLC because it has a voluntary association of members. A PLC has its own distinct legal status.
The members of a PLC are only responsible for the shares they own. Identity proof, proof of address, the PAN cards of all directors and shareholders, DIN, DSC, a utility bill, a no-occupancy certificate from the landlord, and the Memorandum and Articles of Association are all required for registering a Public Limited Company.
Requirements for company registration
Following are the requirements for company registration in Salem.
Company name
Your company name must be interesting, which will depict the idea of your business. In the wake of finishing your company name, you want to enroll with the Ministry of Corporate Affairs (MCA).
Local registered address
An Indian business must have a registered address in the local area. You will be contacted by the Ministry of Corporate Affairs (MCA) via postal or other means.
Resident director
To have company registration in Salem, you’ll need at least one resident director.
What you need to be a Resident Director:
- A resident of India who is a natural person (not a company or business identity).
- At least 18 years old.
Shareholders
A private limited company needs a minimum of two shareholders and a maximum of 200.
For a public limited company, you’ll need at least seven shareholders. The maximum number of shareholders is unlimited.
Paid-up capital
There is no base settled up capital expected for setting up an organization in India. On the other hand, it’s best to have company registration in Salem with the capital needed to get things started.
Things to do after company incorporation
Creation of website and market planning
You must establish a website by acquiring a web host and a domain name, as well as decide how you will market and sell your goods and services to potential customers.
Issue of share certificates
According to the Companies Act of 2013, every company is required to send the share certificates to the subscribers of the memorandum within 60 days of the date of incorporation, within a period of two months.
Get some other licenses
You are required to obtain a license from their respective licensing departments if you are dealing with food, chemicals, electronics, software, alcoholic beverages, or any other industrial products and services.
Registered office and CIN
Subsequent to getting your organization enlistment, you really want to relegate an enrolled office of the organization to get the authority report and you want to CIN which requirements to show on an organization board outside the enrolled office.
The company’s name, registered office address, corporate identity number or telephone number, email address, website address, and fax number, among other information, are required to be displayed on the company board.
These details should also be printed on official documents like business letters and bill-heads.
Conclusion
Thus Company registration is crucial and needs proper guidance. For further details anyone may contact us.