- Post:CA Nayani Agarwal
- June 4, 2020
How to Choose Name for New Company Registration
The name of the company is the first and foremost decision that a person makes for new company registration. It is the first identity that goes out to consumers or investors that’s why it needs to be unique, desirable and one of its kind to make it stand out of the rest. Therefore, choosing a right name of new private limited company registration becomes extremely important and should be done meticulously.
Applying for the name while you are doing registration of new company with the MCA; it should be describe separately, the objective or vision behind the same. Under new INC-29 process, MCA portal allows you to propose two names in the order of priority. Company name and allotment process in India is administered by Ministry of Corporate Affairs (MCA) as per the Company Name Availability and Guidelines issued under Companies Act 2013.
For the registration of your company, you can follow the following steps to select a name that is unique and acceptable by the MCA:
- First of all visit the official site of the MCA, then click on the MCA Services tab and go for SPICe+.
- After login to SPICe+ portal, a page will open showing application for new registration and existing application. Select the option according to your requirement. For new company registration, choose new applictaion.
- If you select the option of new registration, then it will ask for a few details such as type of company, class of company, category of the company, a sub-category of company, etc. One will require to fill the main division of the industrial activities in the form of code which can be found at Annexure-B of the below PDF:
Further on it will ask for two proposed name that should be unique and is not used by any other company. There is a preferred format in which MCA wants the person to do it new company registration:
Unique Component + Descriptive Name + Private Limited
- The unique component is required to different from company which already exist. You can check existing company names at MCA portal and also, whether trademark is filled using proposed name at IPIndia website.
- The descriptive name defines the main business activity you are looking to undertake.
- The Private Ltd will be added to your new private limited company registration as per requirement of law.
For example, you started a business of travel agency
Unique Component + Descriptive Name + Private Limited Patron + Travel + Private Limited
If your unique name contains descriptive of nature of services then separate descriptive name is not required for e.g. TravelRe Private Limited. In case of new one person company (OPC) registration, OPC will be added in the name of your new private limited company registration For eg Patron Travel (OPC) Private Limited. Some other important points to focus which can avoid rejection of name from MCA while doing new company registration are highlighted below. This will save time and money as MCA charges fees for registrar of name of your new company:
- The name that the person intends to register should not be identical or resemble too closely to the name of an existing corporate body. Using plural forms of any words appearing in the name of any existing company shall not make the name distinctive.
- Use of Different letter case, Spacing or Punctuation Marks:: Changes to upper or lower case of a letter , the spacing between letters, joining or separating words, and punctuation marks do not make a name distinctive.
- Use of different tenses or numbers instead of letters:: the use of different tenses or numbers of the same word does not distinguish one name from another.
- Use of spelling variations or misspelled words:: A small spelling variation does not distinguish a company’s name from another.
- Use of titles: Use of words like Shri, Sai, Navi, Moderneyc. does not make a name distinctive.
- Translation of words: If the new name is the translation or transliteration of the name of any existing name then it will not be considered as a different name.
However, your brand name can different from the name of new private limited company registration. You can register your trademark online of your brand name gives the creator, an exclusive right over the use. You can watch detailed video by clicking on below link:
Looking for company registration in pune or Gurgaon?Patron Accounting is one of the leading accounting firms in Pune which provide, trademark registration, online GST registration, income tax, Provident fund return filing, company registration services in Pune.
CA Nayani Agarwal is a Chartered Accountant who scored All India Rank-24 and have 6 years of experience in the field of Auditing, GST, Income tax and Accounting. She has given consultation to distinct industries over these years.