If you want to open a company then going through a long set of procedures is a tedious task. Everything has to be verified including the slightest of the things. When you open a company, you aim to serve people or clients through your services and products. A private limited company is quite famous in the corporate industry world. To ensure that it is genuine you need to register your company and fulfill certain criteria. Clients must be assured that the company they are relying on is genuine. The article will provide you with guidelines for online company registration. You can do over the web, rather than migrating various places and getting it done offline.
Know more about the business
- In India, you can start a business within 15 to 30 days. It depends on whether you choose a private company, a limited liability partnership or a one-person company. Some additional factors like the funding cost, start-up cost and more also matter a lot.
- For start-ups, the best thing is to get the company registered. Genuine employees of such start-ups are provided with the equity stakes in such cases. If you opt for the limited liability stake then the set up goes the same as the partnership firm. It can be cheap to start as well.
- With OPC, i.e. just one partner the registration is the same but needs to be converted into private if the revenue crosses a certain limit. With general partnerships, online company registration need not be done.
- You even have the option of a sole proprietorship, which are business in the owner’s name and are small scale. It generally has reduced risks and can be registered with the government.
The registration process of a company
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Below are the points to consider for online company registration
- A private limited company is famous and the most recommendable type of business one can do. It gives restrictions on the liabilities to its stakeholders. Here the directors are different unlike in the LLP, where they are the same as shareholders.
- On registering your company, you can get tax and finding benefits. You need to first register your directors under the MCA i.e. ministry of corporate affairs policy.
- You will also have to follow certain guidelines to get your company name. Once you get your company registered you will get the TAN and PAN for the same. With the COI, you can even open an account with some bank to start the business operations.
- Registering your company can avail you benefits like customer trust, greater stability and capitals, low balance on the current account, liability protection and more.
- A checklist for registering a company includes two directors, a unique name, registered office, minimum capital contribution.
- First, you need to digital signature certificate and then a director identification number. Then you have to apply for the name availability and the PAN/TAN of the company.
- You also need an issued certificate of the roc and a bank account on the company’s name for online company registration.
Other than the legal procedures, you also need to ensure that the company name you are going to use is unique. You must ensure that it has not been used by someone earlier. Hence it better that you be prepared with 3 to 4 alternative names for your company. At the IP India website, you can check if any brand name has been used that you are seeking to take. Proper identity papers are crucial for registration. It can include address proof, identity proof and more. So if you are planning for a private limited business, then go for the online company registration today. Avail additional benefits and promote your business.
Cathy is a school teacher and digital parental geek, She’s also content writer and editor at spysmarts. She reads and writes excessively on subjects such as computer and mobile tips, software reviews, protecting oneself from the dangers of the online world especially targeting child protection and the guidelines for using different cellular applications