How To Do The Registration of Company Online in India?

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One of the highly recommended ways to start a business in India is by setting up a private limited company. The whole process of starting a company could be time-consuming and a bit complex for entrepreneurs. So, taking help from a reputed legal consultancy firm like Muds Management could come in handy. A private limited company offers only limited liability for its shareholders along with certain restrictions placed on the ownership of the company and the shares. LLP (Limited Liability Partnership) has partners, who own & manage the business whereas, in private limited company registration, the directors may be different from the shareholders.

After the approval of the company registration process, you will receive a Certificate of Incorporation (CoI), along with the PAN & the TAN. After this, you are eligible to open a current bank account and begin your business operations from thereon.

Benefits of Company Registration in India:

There are many benefits for registering a company as it greatly increases the authenticity of your business. It helps your business by:

1. It protects from other risks & losses and shields you from facing personal liability.
2. It attracts more customers to the business.
3. It procures bank credits & investments from reliable investors with ease.
4. It offers liability protection for your company’s assets.
5. It provides greater capital contribution & greater stability.
6. It increases the potential for the company to grow big and expand.

Minimum Requirements for Registering a Company in India:

As defined under the Companies Act 2013, the minimum requirements for registering a firm in India are:

1. Two Directors: A private limited company at the minimum must have at least 2 directors and at the most can have 15 directors. Among all the directors in the business of the company, at least one of the directors must be a resident of India.
2. Unique Name: The name of your company or business must be unique. The suggested name of the business should not match with any of the already existing companies or trademarks in India.
3. Minimum Capital Contribution: There is no such thing as a minimum capital amount for a company. A company should have an authorized capital of Rs. 1 lakh at the very least.
4. Registered Office: It isn’t compulsory for the registered office of a company to not have to be a commercial space. Even a rented place can be titled as the registered office so long as a NOC (No Objection Certificate) is obtained from the landlord.

The Procedure for the Registration:

The registration of a company in India will boost the progress of start-ups & will provide an additional edge over those who have not registered their companies. The Ministry of Corporate Affairs watches over and governs the company registration process with the rules & regulations which were framed while following the law. The proper procedure for the registration of a company in India is by following the steps given below:

Step 1: Application for the Digital Signature Certificate.

Step 2: Apply for the Director Identification Number.

Step 3: Application for the availability of name.

Step 4: Filing of the E-MoA (Memorandum of Association) & E-AoA (Article of Association) to register a private limited company.

Step 5: Apply for the PAN (Permanent Account Number) & TAN (Tax Deduction and Collection Account Number) of the company.

Step 6: An Issued certificate of incorporation by RoC (Registrars of Companies) with PAN and TAN.

Step 7: Opening a current bank account for the company in the company’s name.

The Required Documents for the Registration:

Listed below are the documents that will be accepted by the MCA (Ministry of Corporate Affairs) on submission for the online company registration process. These documents will be required for all the directors & the shareholders of the company at present to be incorporated. The documents are:

1. A copy of PAN Card or Passport (in the case of Foreign Nationals & NRIs).
2. A copy of the Voter’s ID or Passport or Driver’s License.
3. A copy of the latest bank statement, telephone or mobile number, and electricity or gas bill.
4. A passport-sized photograph with signature (blank document with signature only in case of directors)
5. A copy of the notarized rental agreement in the English language.
6. A copy of the No Objection Certificate (NOC) from the owner of the property.
7. A copy of the sale deed or the property deed in the English language (in case if there is an owned property).

And these were the necessary documents that are required for a proper and full registration of a company in India online. And thus concludes on how to register a company online in India.