India is a land of endless opportunities. As a budding entrepreneur, you might find it interesting that there are already more than 7 lakh registered companies in India, and still more registration applications are pouring in every month. No matter which field your business caters to, if you have a vision, the markets in India will contribute to your mission. We understand why you might have been eyeing India for some time now for business investments.
Let us get down to the basics first, shall we? In India, a company is a legal entity which needs to be registered under the Company Law, 1956. To get your company registered, you have to make a preliminary choice: do you want to go for a private or a public company. The difference? Well, a public company operates on a much grander scale and is open to the ‘public’ for shareholding. Private companies can begin operation with just two Board members and two directors and can start with its business as soon as it is incorporated (no commencement certificate required as in the case of public company).
Registering your start-up as a private limited company is the best way to begin operations in many ways. For one thing there is no minimum capital requirement, for another it enables you the advantage of minimum liability to self.
Here are 4 easy steps that you need to follow to get your private limited company registered in India. And no, contrary to what you were previously told, you don’t have to be physically present in a corporate office to get the registration done, the whole process can easily take place online.
Step 1: Acquire your DIN- DIN stands for Director Identification Number.
It is mandatory for every director of the company (existing or proposed) to have their own unique eight-digit pin number. A DIN comes with a life-time validity, and without a DIN one cannot function as a director.
Step 2: Get your DSC- DSC is the Digital Signature Certificate issued by licensed certifying bodies.
It is another mandate that all the directors of the company need to follow by obtaining a certificate for digitally signing the incorporation documents online.
Step 3: Select your company name
Once you have seen the steps one and two through, you need to decide on your company name. Before locking your options, you need your online registration company to run a quick search for you to make sure the name you want to pick is not already in use. Then a short list of five to six names is submitted for approval.
Step 4: Obtain your incorporation certificate
There you go! After all the required incorporation documents have been submitted, verified and approved you are ready to commence your business. You will also need to apply for PAN and TAN numbers of your company simultaneously.
To know more about how you can make your life easier and get the whole registration process done without any hassle, log on to Quick Company. You can now file your company registration from any part of India.
Alissa who is an independent blogger loves to write for Digital Marketing firms like Submitcore.com to share her understanding via posts.