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Online Company Registration
How Do We Help With New Company Registration
Online Company Registration is the process of Incorporation of a new company/firm. Online firm registration in India can be done for a startup, a micro or medium business or a non profict organization. Company incorporation is regulated by Ministry of Corporate Affairs (MCA) in India through Companies Act,1956,2013 and other allied Bills, Acts and Rules. There are various important services as well as protection offered by MCA to stakeholders in Company Incorporation in India. So it is benficial to regsiter a company before starting any business or doing any investment. As there are multiple types of company registration in India with different types of benefits.
At LegalPillers, a team of highly educated professional legal advisor are there to help you out through the online company regsitration process. Now the question is which type of company structure should one opt. As there are different types of Company Registration in India such as Private Limited Company, Limited Liabilty Partnership Firm, Proprietorship Firm, Partnership Firm, and Nidhi Company etc. It is very important to select an accurate type of company structure for your startup.
The reason being, a correct type of Company Registartion will help you to operate your business effectively as well as cost efficiently. A company can be formed for various businesses be it non-profit, profit, micro or medium. The requirement of business model determines the type of Company Registration in India. There are various laws in India which govern these types of entities. All these companies vary from each other and have different requirements for the purpose of Startup Registration.
About Companies Act, 2013
Companies are established under the Companies Act, 2013 legislated by the Parliament. After the approval of the President of India on August 29, 2013 the act encourages and revises the law associate with companies. Notifying the terms of the act on september 12, 2013 via print media, The companies Act, 2013 has been published in the official gazette in 2013. Lets have an overview of Online Company Registration in India and its types.
Right structure of Company Registration
Choosing the right structure of online company registration is crucial for a business. Prior to initiating any type of Company Registration Process, you must have the clear vision about the right structure of company registration.
For e.g., you are planning to start a financial business according to which you will lend and accept money from the market than you have to go for LLP Registration. Another example we can consider is that a Private Limited Company or LLP / OPC can't perform chit fund business activity.
Overview of Company Registration & its types
There are different kind of company registration process in India who differ in terms of preferences and choices. And at times, confuse what to start and how to categorize it. To simplify this, there are different types of companies introduced. They are distinct from each other on the basis of benefits and legal compliance. Hence, while selecting the structure of the company, these distinct features must be taken care of.
What we provide?
We, at LegalPillers have developed an online service marketplace where people can get online directory services from our well versed professionals such as Chartered Accountants or Company Secretaries and Advocates etc. You can avail cost-effective customised services as per your requirements. You can expect services like Online Firm Registration Process in India, Company Incorporation, Start-up Registration, Proprietorship Firm Registration, Online Company Registration in India, etc.
We have the answers of all your queries like How to register a company name in India?, How to register a company?, Company Registration Process, How to get a Registration Certificate, Company Incorporation in India etc.
Types of Company Registration in India are:
An individual can set up as a sole trader, as a Partnership, Private Limited or Limited Liability Partnership etc. Each format has its advantages and disadvantages. There are multiple types of company registration mentioned below :-
All these above mentioned companies are different from each other. They have different types of formations, rules and regulations. So, it is very crucial to understand every detial like their documents, forms, etc. Focusing on the procedure of Online Company Registration, other company's process can also be understood as they all have the same process.
But the most widely use and in common is Private Limited Company Registration Online. Whenever the new company registration process proceeds, it's highly recommended to the applicant to choose "Private Limited Company". The reason being, it has more tax benefits than others.
Steps of Company Registration process in India
These 5 easy steps of a Private Limited company registration online:
Step 1- Deciding your Company Structure
This is one of the most basic yet important step for Online Company Registration in India. Deciding the company structure will determine the path your company takes and how it manages operations for its whole lifetime. Thus, it becomes a crucial step to decide the right company structure according to your firm’s requirements and needs. There are many kinds of Business Structures in India, and it can be hard to choose which one to go for. Hence, we’ll take a brief look at all the company structures.
Private Limited Company
The Private Limited Company Registration is the most reknown business entities in India. In PVT LTD Company Registration every shareholder is liable for his share of the total capital. The Partners in PVT LTD Company needs to maintain their Board meetings, Financial Transaction Records and Annual Reports.
There is also further bifercation in Private Limited Company Registration-
- Company Limited by Shares - Members of the company are liable to subscribe their asset limited to the amount. If there are any unpaid shares then it is called as "a company limited by shares".
- Company Limited by Guarantee - In this kind of PVT LTD Company registration, the liability of the members is bounded by the memorandum to an amount. Company members of the private limited company registration are individually managed as per the memorandum. This type of company registration may or may not have a share capital.
- Unlimited Company - Unlimited Company Registration is known by not having any extent on the liability of its members.
- It usually requires only 2 members to incorporate a Pvt ltd company registration online.
- Getting investment is much easier in this kind of company.
- A foreign participation whether in the form of director or shareholder is also allowed in Private Limited Company Registration.
- Mandatory legal compliances are Business and Tax Returns, ROC Compliances have to be filed and Statutory Audit must be done.
One Person Company
The concept of One Person Company Registration is new in India. It is known to be an eminent form of company registration in India. If you are a resident of India then you are eligible to incorporate an One person company registration. Although there is a paid capital of shares of Rs 1 Lakh.
- It requires only one member for company incorporation.
- It is best for the people who have wants of restricting their liabilities.
- If you are running a sole proprietor firm and want to expand it, OPC is right choice for you.
- The mandatory legal compliance is Business Returns. ROC compliance is limited.
Limited Liability Partnership (LLP)
Having minimum two partners, there is no limitation on the maximum number of partners in LLP Company Registration. Even the foreign LLPs can attain partnership in LLP Firm in India.
- It requires 2 members to incorporate the LLP.
- The startups or business having low investments can go for this one.
- It requires less compliance burden.
- It provides almost equal benefit as Private Limited Company.
- The mandatory legal compliance is Tax Returns like GST Return and ROC returns to be filed.
Public Limited Company
In Public Limited Company Registration, presence of atleast 7 Shareholders are required along with 3 directors. There is no restriction of shares in a public limited company. If you are willing to commence a public limited company registration then you have to get a certificate from the ROC (Registrar of Companies).
- It requires 7 members for incorporation.
- They are highly suggested for the people who are high-business risk takers and have high turnovers.
- There is no bar on company to make shareholders of company.
- This is suitable for those businesses who want to operate their business at higher level.
- The mandatory legal compliance is the Business tax returns and important statutory audits to be performed.
As per the Partnership Act 1932 - Section 4, Partnership company registraion is known as a legal relationsship between the persons agreed to the share. Either all member or any individual one, can handle the profit for everyone.
- It requires minimum of 2 members for incorporation.
- The liability of the partners of a partnership firm is unlimited.
- A partnership is not a separate legal entity. The partners, collectively known as "Firm".
- A partnership may engage itself in any lawful business which the partners like.
- The mandatory legal compliance is the Income tax returns and are supposed to comply with TDS, GST, ESI regulations..
Nidhi Company/Mutual Benefits Company
- If you are planning your Fintech Business without investing big amount and RBI involvement, Nidhi Registration is best.
- Nidhi can accept and lend money to its members.
- RD, FD, Saving Account opening options are there for members.
- No RBI involvement, less investment required.
- It is called Non Banking Financial Company
- If you are planning to operate your Finance work at good level, NBFC is good option for you.
- However RBI’s involvement lies there.
Hence, except these, there are other structures of companies that are Partnership Firm & Sole Proprietorship Firm.
Things to Judge for deciding the business structure:
- Number of Owners/Partners
- Initial Investments in the business
- Income Tax Rates.
- Attracting Investors
Having an unregistered company structure can be a hindering barrier to succeed. Specially when you’re looking to bring an investor to establish some capital for the business. Legally authorized business structures like OPC, PLC, Public Company, LLP, etc are much more likely to get the majority faith from an investor/investor firm. So, before, you ask yourself how to register a company? Go ahead and make an informed choice about the business structure you’re going to incorporate.
Step 2: Getting a DSC & DIN
In company registration, there are the various documents to further process with the online company registration. Digital Signature Certificate or DSC is the digital equivalent of the real certificates. It is primarily used to confirm the identity of a person or sometimes to obtain information and receive services on the internet or to sign some documents digitally.
How to get DSC Certificate?
The Ministry of Corporate Affairs (MCA) has guided DSC Certifying Authorities (CAs) from where you can receive a DSC Check out. Our website Legalpillers has the certified Authority for getting DSC Certifications. We have a regular processing method that takes less than 4 working days with remarkably budget-friendly pricing.
Different Classes of Digital Signature Certificates (DSC)
- 1. Certificate: Individuals/Private Subscribers.
- 2. Certificate: Business Personnel both for personal and private use.
- 3. Certificate: Big Assurance Certificates.
Majorly for E-commerce Operators whether individuals or organizations DIN is Director Identification Number. Its a unique identification number provide by the Central Government to individuals aiming to be the directors of a new or already existing company.
DIN Forms :
- SPICe Forms: The SPICe forms are utilized for the allocation of the DIN number to the intended directors of a new company in the process of the company registration.
- DIR-3 Form: a DIR-3 form is a form for becoming a director of an already existing company.
- DIR-6 Form: To send the changes in any details of the existing directors
Step 3: File for Name Approval
At the time of Company Incorportion, one must have to select a name with the suffix. When someone is picking up a name for their company. Lets say for, Pvt ltd company registration online, they must have to add suffix "Pvt Ltd" with the name of the comapny. There are two e-forms that can be used to file for Name Approval.
- RUN (Reserve Unique Number)
- SPICe (Simplified Performa for Incorporating Company Digitally)
However, before filing for name approval, one must check that company’s suggested name is not conflicting with an already existing company's name.
How LegalPillers helps in checking the name availability?
LegalPillers have a software where one can check the name availability for New Company. This is the most crucial step to follow. This helps to cease the unneccesary legal problems that might occur. Since most of the time Comapnies do have trademark on their Company's name. Use our free tool to make a organic Company name and avoid any clashes.
Step 4: File AoA and MoA & Submit other documents for Incorporation
MoA is for the Memorandum of Association and AoA is for Articles of association. Collectively, these two forms the nature of the company. These two essentially define the scope of the legal powers exercised by the company. Also, the information about the company activities along with the relationship of the company with the shareholders. The MCA has offered the e-forms INC-33 for e-MoA and INC-34 e-AoA to help for Company Incorporation. Compile other documents and submit them.
- Copy of PAN Card of directors
- Passport size photograph of directors
- Copy of Rent agreement (If rented property)
- Electricity/ Water bill (Business Place)
- Copy of Property papers(If owned property)
- Landlord NOC (Format will be provided)
Step 5: File for Incorporation
The last step in the company incorporation system is filing for incorporation and the MCA has given dedicated frameworks for the incorporation of companies. SPICe Forms (INC-32) allot for the incorporation processing of Limited Companies (Public /Private/ LLP/OPC). Wait for 10-12 days for the certification of Incorporation. After you get the Incorporation Certificate, concerned departments will provide you PAN, TAN and other certificates as committed at the time of application filing.
How to select name of company?
Selection of a name for New Company Registration is easy. But complications begin at the time of registering it with the Ministry of Corporate Affairs. For that, Government has prescribed laws for name selection for company registration. According to the law, name should be unique in nature and shall not be similar to existing company. Also,there shall not be any trademark registered with the proposed name of the company.
How LegalPillers is providing CA Services?
LegalPillers is India’s most recognised Legal Tech platform which are providing numerous CA services through its online platforms not only in India but also across the globe. By using the LegalPillers' platform, you can avail all CA Services at your door step. For getting the CA Services, you don’t need to visit physically at any of our offices. You have to just consult our Chartered Accountants, Company Secretariat and Advocates by call and submit documents online, make payment and get your work done at earliest.
What if I want to Startup Registration or Company Incorporation?
You can call your Online Company Registration as Startup registration. Startup Registration is nothing but a business registration type. Whether you can register a private limited company, Limited Liability Partnership, OPC, Partnership firm, or Proprietorship Firm etc,. each one of these shall be considered as startup registration.
Documents required for Online Company Registration Process
- Copy of PAN Card of directors
- Copy of Adhaar Card of directors
- Electricity bill of office
- NOC or rental agreement of office or ownership proof
- Photograph of directors
- Email id and contact number of directors)
- Other information as required
How LegalPillers helps in Company Registration?
We at LegalPillers helping budding the entrepreneurs by providing free consultancy over New Company Registration or Firm Registration or Startup Registration. So that they become capable to contribute ecosystem. Legal Pillers is providing Online Company Registration by our CA Services with guaranteed best service in cheap price.
You will get various CA Services through our panel having Chartered Accountants, Company Secretary, and Advocates. Our professionals are also assisting in
- New Company Registration
- Online Company Registration Incorporation
- Proprietorship Firm Registration
- Startup India Registration
- Firm Registration in India
- Certificate of Incorporation
So, for Company Incorporation in India can be much easier if you put an effort of filling with well known CA services & consultancy. It usually takes 7-8 days to incorporate a company. Adhere to these steps and if you find any queries contact us.
For CA services Legalpillers is a great platform that can help your online company registration in India. You can give a call on 9267941961, 9625279785 for personals queries. We are here to serve you 24/7. We make sure the approvals made are positive. " Happy Customer serves the company success"- we aim to achieve this through our legal services.
Frequently Asked Questions
- Private Limited Company
- Limited Liability Partnership
- One-person Company
- Public Limited Company
- Decide the kind of company you want to register
- Compile all the forms and documents completion
- Get DSC & DIN
- Name Approval of the company
- Get the certificate of incorporation
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