Register company in India is one of the critical things in which most founders are not good at. They always end up making some silly mistakes when it comes to the legal part of their organization. So in this article, we have created a complete guide about the steps of registering a company, documents needed for registration, and the benefits of registration.
What are the various types of business structures in India?
Before we come to the discussion about how to register a company in India online, it is important to give you knowledge of various types of business structures in India.
One Person Company (OPC)
In the year 2013, it has been said that an OPC is the best way to begin a company if there is only a single investor or owner. It allows a sole-proprietor to continue his work and still be a part of the corporate world.
Limited Liability Partnership (LLP)
LLP agreement states that the partners are restricted to their settled contribution.
Private Limited Company (PLC)
According to law, a company is considered as a separate legal body from its founders, which has shareholders and directors. Each person working in a company is considered as their employee.
Public Limited Company (PLC)
A PLC is a charitable organization of members that are included under company law. It has a different official existence, and the responsibility of its members is restricted to shares they hold.
How to Register a Company in India Online?
To register a company in India has become very simple these days. Follow the below four steps and your company registration is done.
Step 1: Get a Digital Signature Certificate (DSC) for your company.
Step 2: Director Identification Number (DIN) for your company is a must. Get it once you have a DSC
Step 3: Register your company on the MCA portal or under the New User registration.
Step 4: Finally, get the Certificate of Incorporation.
Which Documents do You Need to Register Your Company?
- However In India, registration of a company can’t be done without proper identity proof and address proof. Still Identity proof is required for the incorporation of all the company’s officials and stakeholders.
- All the important details of the company officials and stakeholders are to be submitted to the registrar during the time of registration. You can submit a Pan Card/Aadhar card/Driving license/passport as identity proof. For instance, recent Telephone Bill /Electricity Bill/ Bank Account Statement can be used as address proof.
- The association must hold a registered office in India if they want online business registration in India. Any govt. bill used for verification purposes.
- In addition to these documents, the DIN and DSC of all the directors also need to be submitted.
Please note, these documents mentioned above are the basic documents that have to be submitted for registration of LLP, One Person Company, Private Limited, and Public Limited Company.
A registered company comes along with many advantages. It includesed company makes it authentic and improves the business’ reliability.
What are the Advantages of Company Registration in India?
- As a registered company can protect itself against personal obligation, and safeguards against other threats and losses. It increases the credibility within the business.
- A registered company always builds goodwill that attracts more customer support.
- A licensed company can easily get reliable investors with good investments and bank credits.
- A registered company always has a backup plan to protect the company’s assets.
- A lawful company always stands for a better commitment to wealth and greater stability.
- A registered organization always has the scope to increase their productivity to improve and can expand more.
