Registering a Company in India is a simple and easy process, which can be done through online. The necessary docs can be sent to us @firstname.lastname@example.org as scanned copy and the entire registration process would be over within 15 days of time. But remember all the docs should be provided in order.
What are the types of Company available for Registration?
Type of Company available for registration:
- Private Limited Company.
- One Person Company.
- Limited Liability Partnership.
Now we can see the above list in detail:
- Private Limited Company:
- A Private Limited Company can be formed with at least two members and a maximum of 200 members as per the new Companies Act, 2013.
- A Private Limited Company is a separate legal entity with perpetual succession and limited liability. The Scope of expansion is higher because easy to raise capital from financial institutions and the advantage of limited liability.
How to register your Private Limited Company?
Four Simple ways to register your Private Limited Company:
Obtain Digital Signature Certificate for both Directors of the Company.
Apply for DIN- Director Identification Number for proposed Directors.
Application for Company Name- Apply with Six names for your Company.
Submission Registered Office address proof along with MOA & AOA.
- After scrutiny of documents the Registrar of Companies, issues Certificate of Incorporation.
- A Private Limited Company can be registered within 15 days of time anywhere in India.
- One Person Company
- A One Person company is a unique form of company registration where it binds the benefits of both sole proprietorship business with Corporate form of business.
- Section 2(62) of the Companies Act, defines One Person Company as a company which has only one person as a member.
- A minimum authorized capital of Rs.1,00,000/- is enough to start a company, but that amount need not be in cash or in Bank. While filing returns during the year end, it can be shown in the accounts as Rs. 1 lac.
- A nominee has to be appointed for the company, in or to take care of the Company affairs in terms of death of the promoter.
How to register your One Person Company?
Obtain Digital Signature Certificate [DSC] for the proposed Director(s)
Obtain Director Identification Number [DIN] for the proposed director(s)
Select suitable Company Name, and make an application
Submit various documents including MOA & AOA with the Registrar of Companies
Scrutiny of documents at Registrar of Companies [ROC]
Receipt of Certificate of Registration/Incorporation from ROC
- An One Person Company can engage in any sort of business activities apart from Non Banking Financial Investment Activities including “investment” in securities of body corporates. To know about one person company registration click here.
- Limited Liability Partnership
- Limited Liability Partnership is a new Corporate Structure, which combines the benefits of partnership firm and also the advantage of limited liability of a Company.
- In an LLP, a partner is not responsible or liable for another partner’s misconduct or negligence. All partners have limited liability, limited to their own acts of commission or omission, similar to partners’ liabilities in a limited LLP.
- You can even start your LLP with even Re. 1 as Capital. The Foreign Direct investment is allowed for LLP’s through automatic route, with the approval of Foreign Investment Promotional Board.
- In companies, the management is vested with its Board of Directors. They are responsible for taking the day-to-day decisions and management of a company. In an LLP, management is vested with the partners unless specifically maintained in the LLP agreement.
- Compared to a company, the legal compliance requirements are lesser for an LLP. For a company, it is mandatory to maintain various registers, minutes, etc., but there is no such requirement for an Limited Liability Partnership.
A Company registration generally gives your business a legal identity, brand recognition and corporate status. However you can also register a company as Public Limited Company, Section 8 company (Non profit organization) etc. But for the person looking for start-ups the above option are the best to began their company in India.