First step towards starting your business is to register an entity or name where you would carry out your business. Such entity can be registered in many forms or regulations depending upon the requirement, industry, partners and other factors. Some of forms are as under: –
- Private/Public Limited Company
- One Person Company
- Partnership Firm
- Limited Liability Partnership
Among above, registering a Company to start your business, is gained maximum positive and long term points as compared to others. Some of the big advantages are mentioned below:
- Separate legal entity.
- Preferred by Venture Capitalist/Investors.
- Directors can be changed without changing the ownership.
- Name can be secured for goodwill.
Company registration is basically for those who are looking for a transparent and compliant model of business. It is very easy to register as only two persons having common objective can join their hands together to register a Company. All the businesses seeking for any legal constitution of Business with the separate legal entity.
The Concerned Authority for Private Limited Company Registration is Central Registration Centre, Manesar.
Minimum Requirement for Company Registration
In case of Private Limited Company:
Minimum 2 Directors
Minimum 2 Shareholders.
In case of Public Company:
Minimum 3 Directors
Minimum 7 Shareholders
Documents Required for Company Registration
- Pan Card of all the Proposed Directors/Promoters.
- Aadhaar Card and Voter ID of all the proposed/ Directors/Promoters.
- Address Proof for the premises of the Business along with the no Objection certificate from the owner of the property.
- Email ID and Mobile no of all the Directors
Company Registration Process
- Obtaining Digital Signature for all the Directors/Promoters.
- Obtaining DIN for all the Directors.
- Name Approval Application.
- After getting name approval, application for certificate of incorporation will be filed.
Advantage of Company Registration
- Separate Legal Entity
- Limited Liability
- Best for Equity funding.
- Ownership and control of the business is easily transferable.
- Preferred by Foreign investors for making Foreign Direct Investment (FDI).