Company Registartion in India | Notary Services

1. Company Registration in India!!! “Best Online Legal Service in India” www.licit.ooo

2. Introduction • A company is any body that engages in business. A company can be arranged in many ways, such as a partnership, sole proprietorship or a corporation. It depends on which type of company you are dealing with, that may be owned by one person or group of people.   • A registered / incorporated company in India is a company which is formed and registered under the Companies Act, 1956, including companies which are earlier registered under any of the previous company is called as the registered / incorporated company. Registrar of companies provides an identifying number and which is printed on the certificate of incorporation(ROC). This company indentification  number is unique in nature.

3. Advantages of registering a company in India • Establishing Business Bank Accounts • Getting Loans • Reputation with Customers • Supplier Arrangements • Getting on Record • Legal Liability Protection • Continuity

4. Types of Company Registrations • Private limited Company  • LLP Company • One person company  • Partnership Firm • Sole proprietorship 

5. Private limited registration Prerequisites  • 1. Have paid-up capital of INR 1,00,000 • 2. Need minimum of 2 directors/board members and two shareholders • 3. Maximum of 50 members allowed in Pvt. Ltd • 4. Cannot publicly sell shares. A Pvt. Ltd company can only invite people to buy shares by issuing a prospectus 

6. Step 1: - Acquire Director Identification Number. It is a unique identification number for an existing directory. According to recent amendments to the Companies Act 1956 the DIN is mandatory. Need 3 to 5 working days for this process. • Supporting documents required (soft-copies) 1. Proof of identity 2. Proof of residence 3. Photograph 4. PAN Card

7. Step 2- Acquire Digital signature certificate • Step 3- This is the final and major step that is applying for a company to be registered which contain incorporating company name, Registering the office address or notice of situation of office and notice for appointment of company directors, manager and secretary. And also about the take and pay for their qualification shares.

8. LLP Registration   • A limited liability partnership (LLP) is a partnership in which some or all partners have limited liabilities and it depends on the jurisdiction. Therefore, it shows elements of partnerships and corporations. In lap one partner is not liable for other partner’s misconduct.  

9. Register on MCA website for login ID and password (create an account) • I. File E-Form DIN-1 • 1. Download E-Form DIN-1 • 2. Fill the form • 3. Attach necessary documents • 4. Sign using digital signature • 5. “Check Form” • 6. Upload E-Form • 7. Pay fees • 8. Note Service Request Number. • 9. Check acknowledgement • 10 Intimate approved DIN to your company • 11. Download DIN- 2 Form

10. Prerequisites • Minimum of two partners and two designated partners with DPIN (Designated Partner Identification Number) just like DIN are required.  • No limit for maximum number of partners.  • It is not compulsory to make partnership deed or LLP agreement, but it may help in any dispute occurred.

11. Step1- Apply for DPIN for designated partners.  • Step2- Obtain digital signature  • Step 3- Apply for LLP name. First apply for company name in form 1A.  • Step 4 – Register LLP • Step 5 – Apply for PAN and TAN

12. One person company registration • One person company is a new concept introduced by The Companies Act, 2013 [No.18 of 2013].  Pre-requisites  • Only one share holder • The share holder can nominate any other person who can be share holder in case of death or incapacity of original share holder • Must have minimum of one director and maximum of 15 directors

13. Step 1- Obtain digital signature • Step2- Get DIN  • Step 3- Select suitable Company Name, and make an application to the Ministry of Corporate Office for availability of name. • Step4- Prepare Memorandum of Association and Articles of Association.  • Step5- Payment of Requisite fee to the Ministry of Corporate Affairs and also Stamp Duty.  • Step6- Scrutiny of documents at Registrar of Companies [ROC]. • Step7- Get certificate from ROC 

14. Partnership Firm registration Pre-requisites • Two persons are required as partners.  • Partners share their duties and responsibilities • More capital can brought into the business  • Step 1- Select suitable Company Name • Step 2- Create Partnership Agreement or Deed • Step3- Apply for PAN Card on the name of Partnership Firm. • Step4- Opening of Current Bank Account on the basis of PAN Card and Registered Partnership Deed. 

15. Sole proprietorship registration Pre-requisites • Single owner for the business.  • Easy to start and easy to close  • Complete control resides on single owner  • Step1- Draft documents required for sole Proprietorship Registration. • Step2- Apply for the Service Tax or VAT. • Step3- Get Service tax or a VAT Registration Certificate. • Step4- Apply for a current bank account in any bank with complete documentation.

16. Registered company will be treated as a legal entity. It has a separate identity and existence of its own. In the case of unregistered company, the shareholders are liable for the transactions they do in the company's name. They are not separated from the company. In fact an unregistered company is non-existent, insignificant in the eyes of law.

17. For online legal consultancies from the best corporate lawyer to get clarity on registering your company visit the biggest online legal solution www.licit.ooo or can download the app https://goo.gl/L8GeYk