Company Registration In Mumbai, Company Registration in Thane, All India Company Registration Service.
What is Company?
Company means association of Group of person / individuals for carrying on lawful business for Profit. A Company becomes legal entity once it is registered under the law.
What is Company Registration?
Company registration means getting the legal right to do business by getting registered under the Ministry of Corporate Affairs. In India, Company Registration is also known as Company formation or incorporation of Company.
What are the types of Company Registration?
Types of Company Registrations recognised in India are Private Limited Company Registration, One Person Company Registration, LLP Registration, Public Company Registration, Section 8 Company Registration, Nidhi Company Registration etc.
Why Company Registration is Essential?
A Company is defined as an artificial person created by or under law for the time being in force, with a Separate legal Status, Perpetual Succession and Capacity to sue and can be Sued. It is not affected by the death or insolvency of an individual director or member.
A company is a Separate legal entity. It is a artificial person created by and registered under law, it has separate Legal Status from its directors and shareholders. It is established under the Companies Act and registered with Ministry of Corporate Affairs. It can sue and be sued in its own name. A Company can own property and incur debts in its own name, the individual members and directors do not owe any liability towards the company’s creditors and debts.
Company has perpetual succession that means it has continued and uninterrupted existence until it is legally dissolved under the law. A Company, being a separate legal person, it is not affected by the death of any member / Director and continues to be in existence irrespective of the changes in membership and Directorship. It remains active by complying to the Companies Act.
Limited Liability means being responsible only upto a fixed amount for debts or to the creditors of a company. Unlike proprietorships and partnerships or any other unregistered forms of business organisation, where the liability is unlimited. In Company Registration there is limited liability of the members in respect of the company’s debts. In other words, the liability of the members of a company is limited only to the extent of the face value of shares taken up by them.
Transferability of Shares
Shares of a Company are easily transferable by a shareholder to another person. Shares can be transferred to any person whom the shareholder chooses. A signed copy of the share transfer form is handed over to the buyer of shares along with share certification. Usually there are no restrictions on transfer of shares. Hence a shareholder could transfer the shares to any person he wishes to do so.
A company being Separate Legal entity registered under law can acquire, own and dispose off, property in its own name. No any shareholder and Director can claim right upon the property of the company as long as the company is a going concern. A shareholder merely has interest in the company property arising under the articles of association of the company, measuring a sum for liability. Therefore, property of the company is not the property of the individual shareholder or director.
Can Sue or Be Sued
A company being an independent legal entity can sue and can also be sued in its own name. A person can take legal action on his / her name on company also. Similarly, company being independent legal entity can take legal action in its own name against another person.
As the Company is separate legal entity and artificial person in the eyes of law Company can borrow funds in their own name. Company can accept loans and borrowings from banking or other financial institutions to render a larger financial assistance. Also Banks and financial Institutions give preference to registered business only for giving loan or any financial assistance
A Company is the only type of legal entity in which we can raise funds through issues of shares to Angel Investors, Private Equity Firms. A Private limited company registration will be sufficient in case of raising equity funds from Angel Investors and Private Equity Investors.
Better Credibility in Market
Private limited company is popular and well known business entity in India. Corporate Customers, Banks, Financial Institutions, Vendors and Government Agencies prefer to deal with Private Limited Company instead of normal proprietorship and partnerships.
What are the Documents required for Company Registration in India
Private Limited Company Registration can be done easily with proper documents. Identity and address proof is required for all the directors and the shareholders of the company which tends to be incorporated. Below is the list of documents that are accepted by Ministry of Corporate Affairs for the Online Company Registration.
- Identity and Address Proof for All Directors and Shareholders
- Scanned copy of PAN Card
- Scanned copy of Voter’s ID/Passport/Driver’s License / Aadhar
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned passport-sized photograph
For the foreign nationals, mandatory apostiled copy of the passport and Address Proof like the latest bank statement/telephone or mobile bill/electricity or gas bill is required to be submitted, documents submitted should be valid. The Address proof documents like the bank statement or the electricity bill should not be older than 2 months.
Registered Office Proof
To prove existence of the registered office of business, a recent copy of electricity Bill / Gas Bill / Telephone Bill / Water Bill is required to be submitted along with Registration Application. Also we need to submit the consent of Person whose name is mentioned in electricity Bill / Gas Bill / Telephone Bill / Water Bill of office as a registered office of the company.
Note: It is not compulsory that your Registered Office need not be a commercial space; it can be kept at your residence too.
What Steps Intella Legal will follow for My Company Registration?
Intella Legal is leading Business Consultant, offering Online, Quick and Cost Effective Company Registration Service in India with following simple steps
- Guiding for Name of Your Company
- Applying for Name Reservation with the ROC (Registrar of Companies)
- Drafting Companies MOA and AOA
- Filing Registration Application with the ROC (Registrar of Companies)
- Register your directors with ROC (Registrar of Companies)
- Getting Your Companies COI along with PAN and TAN
What is Checklist for Company Registration?
For Registering the Company in India following Checklist needs to be followed
Minimum Two Directors: A Private Limited Company must have at least two directors and at maximum, there can be 15 Directors, at least one of them should be a resident of India.
Unique Name: The name of Company must be unique. Your Company name should not match with any existing registered companies or registered trademarks in India.
Minimum Capital Contribution: There is no prescribed minimum capital amount for a company registration. However it is advisable to keep a minimum amount for current account opening. A company can have an authorized and paidup capital of at least Rs. 1 lakh or less.
Registered Office: The registered office of a company should be in existence. It is not compulsory to keep Commercial or owned Residential Space as registered office Even a rented Commercial space or home place can be kept as the registered office, so long as NoC is obtained from the landlord.
How to Choose Name for Company Registration?
One of the primary and most important steps before submitting Name Application for Company Registration is to ensure that the right company name and that name has not been already taken by another legal entity or resembling with any other company’s name or business name. We can conduct company name search to check the availability of the particular name from the Ministry of Corporate Affairs and trademark Website and database.
We recommend our clients to think three to four alternative names so that we can check the best possibility of Name Approval during the Name Approval stage of Company Registration. The Ministry of Corporate Affairs will be the final authority to approve the name based on the availability.
What are the Steps for Online Company Registration?
- Step 1: Application for DSC (Digital Signature Certificate).
- Step 2: Preparing and Filing of Name Application for the name availability.
- Step 3: Preparing and Filing of the Registration Application with Registration Documents, Moa and AOA of Company
- Step 4: Issued certificate of Registration by RoC along with DIN Numbers, PAN and TAN
- Step 5: Opening a current bank account of company name
Frequently Asked Questions for Company Registration
What are the Requirements for Private Limited Company Registration ?
Below mentioned are the requirements to register a Private Limited Company
- At least 2 Directors and Shareholders are required to Register Private limited Company
- Minimum one Director / Shareholder of two shall be an Indian resident
- A Place where business needs to be registered must be provided.
- KYC Documents for Directors and Shareholders of Company
How Much Time it takes to Register Private Limited Company ?
On an average, Private Limited Companies are registered by Intella Legal in 7 to 10 days. The time would vary on a case to case basis, based on the time taken by You to submit the necessary documents and government processing time. We have registered companies in the time frame of 4 -5 working days also.
Is there any minimum capital requirement to Register a Private Limited ?
No. There is no requirement for minimum paid-up capital in Private Limited Company Registration.
What is Authorized Capital and Paid-up Capital ?
Authorized Capital means the maximum amount of capital that a company can raise from its Shareholders by way of issuing shares in present or in the future. Paid-up Capital means the actual amount raised by the company and amount paid by shareholders upon issuance of shares. Paid-up capital can be less than authorized capital but it cannot exceed Authorised Capital.
Can I obtain Private Limited Company registration at a my residential place ?
Yes, You can Register Your Company at a commercial or a residential place by providing necessary proof like Electricity Bill / GAS Bill / Telephone Bill .
What is Registered Office ?
A Registered office is a place where communication, if any, from Government Department and other concerned authorities, can be received. The Registered Office Address is also displayed at the portal of Ministry of Corporate Affairs.
How Many Shareholders can be there in Private limited Company ?
A Private Limited Company can have minimum of 2 and maximum of 200 shareholders.
How Many Shareholders can be there in Private limited Company ?
A Private Limited Company can have minimum 2 and maximum 15 Directors.
Can I be Director in Company If I am already working somewhere ?
Yes, You can be a Director of a Company and OPC even if you are already working. However, you must check that your employment agreement do not contain any restrictions for you to become a Director of any company.
What is Digital Signature Certificate (DSC) ?
Digital signature is just like your hand signature in electronic form. It is used in submitting necessary filings with Government Authorities.
What is Memorandum of Association (MOA) & Articles of Association (AOA) ?
Memorandum of Association (MoA) contains the details of the main and ancillary objects of the proposed company and Articles of Association (AOA) contains the details of the rules, regulations and procedures for the routine conduct of the business of the proposed company. MOA and AoA also contains the details of the name of its first Directors and Shareholders of Company
Which documents you require for Private Limited Company Registration in INDIA ?
For Registering a Private Limited Company we require Photo, PAN, Aadhar Card and Bank Statement of Both Directors and Shareholders, and we also require Electricity Bill / Gas Bill / Telephone Bill for Registered Office Proof
What are the statutory requirements to be fulfilled after Registration process is completed ?
Once Private Limited Company is registered, it must fulfill following requirements on priority:
- Open a Bank account of the company
- Appoint the Statutory auditor
- Deposit paid-up capital mentioned while submitting registration application
- Issuance and allotment of shares
- Form Filing for Commencement of Business
Whether Physical Presence of Director / Shareholder is required to Register a Company ?
The whole process of Company Registration is online. So, Individual Director / Shareholder is not required to go anywhere to register the company. You are required to send in your documents via email and fill up your Contact details to get it done.
Whether it is Compulsory to take PF, PT and ESIC Registration, if I Register My Company ?
Yes, as per Latest amendment notification from Ministry of Corporate Affairs every Company has to Mandatory take PF and ESIC Registration with their Company Registration Application and PT Registration is Compulsory for Companies getting registered in the state of Maharashtra. PF and ESIC return filing is compulsory after crossing of threshold limit of Employees as fixed in respective act.
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