Company Registration

Company Registration / Company Incorporation

Company registration is a systematic procedure defining the policies which need to be followed to get a company registered. The first thing is to reserve a name of choice for the company from ROC (Registrar of Companies). Eligible persons subscribe to MOA (Memorandum of association) a legal document defining constitution of the company. These persons elected by shareholders of the company to manage the affairs, directors may also be shareholders. DIN is a unique identification for Directors and each person aspiring to act as a Director should obtain DIN. There are different structures allowed by the companies Act, 2013. MCA (Ministry of Corporate Affairs) and ROC (Registrar of Companies) are the two regulatory bodies. For e-filing of documents Digital Signature Certificate (DSC) also needs to be obtained. Documents for company registration (ID proof, Address proof, passport size photos, Rent agreement or sales deed of registered office, NOC from the owner), Memorandum, DSC, DIN, and Name approval are filed with ROC to obtain "Certificate of Incorporation".

Private Limited Company

A popular corporate structure in India for both small and large businesses which needs a minimum two members. It has many benefits including limited liability, the members may act as directors or appoint someone qualified for this role.

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Public Limited Company

A popular corporate structure with uninterrupted existence ideal for large business structure, there are minimum 3 Directors and 7 members are required for set-up. Public companies need a commencement of business certificate in addition to the certificate of incorporation.

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Limited Liability Partnership

A new business entity introduced in the limited liability Act, 2008. A minimum of two partners are required of which one can be foreigner or NRI. Flexible option for business incorporation with no minimum capital, limited liability, and benefits of partnership.

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One Person Company

New introduced single person business entity that is easy to incorporate has continued existence and limited liability for member. A nominee is the person nominated by the owner in the memorandum to take over the business is the case of death or disability.

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Sector 8 Company

A not for profit organization which is established only to promote its objectives related to art, commerce, science, education, social welfare, charity or any related object. Registered under the central government, Section 8 company license is needed for commencement.

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Partnership Firm

Ideal for small businesses, a Partnership firm is controlled by association of people. Partnership deed is an essential document for incorporation, registration gives added advantage and identity.

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Sole Proprietorship

Easy to start, proprietorship needs minimum regulatory compliance ideal for small business due to limited existence. Established by business and tax registrations proprietorship is managed and owned by a single purpose.

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Nidhi Company

Governed by guidelines of RBI, Nidhis deal only with their members. A minimum of seven members, with a minimum capital of INR 10 lakhs can incorporate Nidhi company.

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Producer Company

A legal entity dealing with agriculture and post harvest activities, a producer company is formed with a minimum of ten members or two institutions or a combination of persons and institutions.

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Society

An association of seven or more persons who act jointly for the promotion of a common purpose. In India, societies are registered with State Governments after preparation of memorandum and rules with the agreement of the members.

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Trust

Trusts are private or public constituted with charitable/religious sentiment for public benefit for income tax exemption, or for preservation of a property, or regulating funds for the welfare of employees. Author expresses a reason along with an objective for trust formation, appoints a trustee, beneficiary, and trust property.

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