Register Your Company Online and Enjoy The Benefits
To promote your business ideas in front of the whole world, opening a startup company is the most acceptable and trending way for entrepreneurs.
The preparation of a startup business incorporates several steps such as Project Planning, Developer for system designing, looking for investors, Equity shares, and so forth.
After triumphing at all those initial stages, the last and the most important stage for running your business is the legal registration of your entity.
Generally, to register an entity in India, People follow five types of organizational structure. The first one is OPC (One Person Company), the second one is Private/Public Company, the third one is LLP registration, the fourth is Sole Proprietor, and the fifth one is Partnership Firm.
But the compliances and regulations are higher in Private/Public companies than in others. In India, private limited company registration is the most popular for its limited liabilities.
Here’s the process of business registration.
- Obtain Digital Signature – The first and foremost step for a Pvt. Ltd.
- Application for Name Approval –
- The next step in Private Limited Company registrationis making an application in Form SPICe+ PART A in order to reserve a name for the company.
- The new fields introduced in part A of SPICe+ are-
● Class of Company
● Type of company
● Category of company
● Sub category of company
● Main division of the industrial activities of the company
● Analysis of the main division
● Particulars of Proposed Names (Maximum Two)
Once the Name is approved, we proceed with filling of Form SPICE + Part B:
- Filling of Online form SPICE + Part B
Through this form we provide the Basic details with respect to the Registered Office of the Company, Director & Promoters of the company & Share capital details along with applying for PAN & TAN of the Company
Once we Pre-scrutiny and Submit this form online, the Four new online forms are visible i.e., INC-9, Agile Pro, Spice MOA & Spice AOA.
- Filling and submission of Form AGILE Pro:
This form has been introduced for providing services with respect to the application for Registrations under GST, EPFO, ESIC, Bank Account Number and Professional Tax.
Once the AGILE Pro form is duly filled and submitted, we shall proceed for Spice MOA & AOA.
- Formulation of MOA and AOA – Form INC- 33 refers to an electronic Memorandum of Association (e-MOA) and INC- 34 is electronic Articles of Association (e-AOA).
- MOA of a company talks about the scope of operations of the company, whereas AOA states how the company will be carrying the operations as per the laid Act.
Please note the MOA & AOA shall be physically signed in case of Foreign Subscribers to the Company.
- Once all the forms are duly submitted, we shall download the forms, affix the Digital Signature Certificates (DSC) on each of them and upload all the five forms as linked forms.
It is important to have all the important documents for Company Registration.
In India, theCompany registration cost varies from state to state. In different states of India, different requirements are needed.
- Therefore, depending on some affecting factors it changes. In India, the average cost to register a private limited company could be from 20,000 INR to 25,000 INR. For its limited liability and authenticity,
- registration in a private limited company is considered the smartest way to register a company online in India.
Now, we will let you know why it is important to register a company online in India.
- First and foremost, by registering your company, you will get legal protection and recognition.
- If you register a company in India, you can operate your business effectively and can comply with labour environmental, and other laws. It will essentially enhance the trade value of your business.
- Secondly, you can limit your personal liability. As the company is a separate legal entity, it can take the share of your error and thereby can save you from losing your personal assets from business aspects.
- By registering your company, you can reduce your tax reliability significantly.The tax rates for individuals are different from the tax rates for companies.start-up companies or small businesses are also accredited to several tax deductions.
- So, if you register a company online in India you can surely minimize the burden of the tax.
- Usually, It takes a lot of time to give your startup company a successful position in the marketplace.
- If you can register your company, it will help you tosimplify your work within a short period of time.
- Moreover, if you want to take a quick loan from the bank,company form of entity will help you in acquiring loans easily.
- Banks always prefer to provide loans tocorporate entities. Therefore, if you register your company you can run a stress-free business and can shine within a few days.
Therefore, it is clear that in your journey of turning a start-up into a successful business, the key stage is to register a company online in India.
- In 2015, the government of India has taken a flagship initiative under the name of #startupindia in order to welcome new ideas of startups and thereby to develop the Indian economy.
- So, register your company online and let your new ventures make noise in front of the whole world.
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