Effortless Registration of Business with Patron Accounting
Choosing the right business structure is as crucial as selecting the industry for your business due to the long-term implications involved. The business structure establishes the foundation of your enterprise, and as a founder, you need to choose one that offers the right balance of legal rights and protection. In a highly competitive environment, where your focus should be on core business activities, outsourcing legal and accounting compliance tasks to professionals is advisable. These experts can conduct a thorough analysis of your expectations and the necessary inputs for your prospective business. Every business structure has its pros and cons, and consulting specialists ensure a smooth registration process.
Different types of Registration of Business
- One-person Company
- Limited Liability Partnership - LLP
- Private Limited Company
- Foreign Company
- Section 8
- Section 8 Micro-Finance
- Nidhi
- Partnership
- Sole Proprietorship
- Public Limited Company
- Producer
- IRDA-IMF
Process for Registration of Business
- Step 1
- Step 2
- Step 3
- Step 4
- Step 5
Connect with a Patron Expert
Initially, you must determine the type of company you wish to register.Registering the name for a Company is a crucial step in the company registration process. Two proposed names, listed in order of preference, along with the business objective and statutory fees, are submitted to the Ministry of Corporate Affairs (MCA). The proposed name should be unique and free of punctuation marks. If the MCA has any observations, the form must be resubmitted, and after more than one resubmission, additional statutory fees are required. Once the name is approved, it is valid for 20 days (including weekends and holidays), and all other formalities must be completed within this period.
Understanding Your Objectives
A Digital Signature (DSC) is required for all shareholders and directors when registering a Company. It can be obtained concurrently with the name approval process, as DSC is not needed for the name application. If the director or shareholder already has a DSC, this step can be skipped.
Brainstorming by Experts
After obtaining the DSC and name approval, the next step is to file the forms Spice+ Part, Agile Pro, Spice MOA, Spice AOA, and INC 9 with the MCA. These forms include details about the registered office, authorized and paid-up capital, shareholding pattern, and information about directors and shareholders, such as address and educational qualifications. Supporting documents like the rent/title deed of the registered office, PAN card, identity proof, and residence proof are also required.
Communicating Recommendations to You
After submitting and verifying all documents with the Registrar of Companies (ROC), you will receive a Certificate of Incorporation, PAN and TAN of the company within 7-12 days. This certificate acts as the birth certificate for your company and includes the company name, registered address, and a 21-digit alphanumeric Corporate Identity Number (CIN) approved by the MCA. This marks the completion of the company registration process.
Getting Business Incorporation
After receiving the Incorporation Certificate, open a bank account in your company’s name by submitting the certificate, MOA, AOA, and other required documents. Before commencing business, deposit the proposed paid-up capital with the bank and file INC-20A with the MCA to obtain the Certificate of Commencement.
Connect with a Patron Expert
Initially, you must determine the type of company you wish to register.Registering the name for a Company is a crucial step in the company registration process. Two proposed names, listed in order of preference, along with the business objective and statutory fees, are submitted to the Ministry of Corporate Affairs (MCA). The proposed name should be unique and free of punctuation marks. If the MCA has any observations, the form must be resubmitted, and after more than one resubmission, additional statutory fees are required. Once the name is approved, it is valid for 20 days (including weekends and holidays), and all other formalities must be completed within this period.
Understanding Your Objectives
A Digital Signature (DSC) is required for all shareholders and directors when registering a Company. It can be obtained concurrently with the name approval process, as DSC is not needed for the name application. If the director or shareholder already has a DSC, this step can be skipped.
Brainstorming by Experts
After obtaining the DSC and name approval, the next step is to file the forms Spice+ Part, Agile Pro, Spice MOA, Spice AOA, and INC 9 with the MCA. These forms include details about the registered office, authorized and paid-up capital, shareholding pattern, and information about directors and shareholders, such as address and educational qualifications. Supporting documents like the rent/title deed of the registered office, PAN card, identity proof, and residence proof are also required.
Communicating Recommendations to You
After submitting and verifying all documents with the Registrar of Companies (ROC), you will receive a Certificate of Incorporation, PAN and TAN of the company within 7-12 days. This certificate acts as the birth certificate for your company and includes the company name, registered address, and a 21-digit alphanumeric Corporate Identity Number (CIN) approved by the MCA. This marks the completion of the company registration process.
Getting Business Incorporation
After receiving the Incorporation Certificate, open a bank account in your company’s name by submitting the certificate, MOA, AOA, and other required documents. Before commencing business, deposit the proposed paid-up capital with the bank and file INC-20A with the MCA to obtain the Certificate of Commencement.
FAQ
Yes, the entire process of company incorporation is online. You don’t need to visit any location physically.
At least two directors are required to incorporate a private limited company. However, in an OPC company structure, only one director is sufficient.
Normally, it takes 1-2 weeks for company registration, provided all documents are supplied on time.
A Director’s Identification Number (DIN) is issued to a person who will be appointed as a director in the company. It is mandatory to have a DIN before any person can be appointed as a director.
A Digital Signature Certificate (DSC) is the digital equivalent of physical papers or certificates required for electronic signing of forms. As both directors need to sign various documents to incorporate a company, all directors must have DSCs.
Paid-up capital is the portion of authorized capital that has been issued and paid by shareholders.
A non-profit organization in India can be registered as a Trust or Society under the Registrar of Societies, or as a private limited non-profit company under Section 8 of the Companies Act, 2013. A Section 8 company can only use its profits to promote its activities; any profit earned cannot be distributed among its shareholders. These companies are generally incorporated to promote commerce, art, science, research, sports, social welfare, education, charity, religion, protection of the environment, or any other similar object.
Yes, it is possible to convert a Sole Proprietorship or Partnership into a Private Limited Company by following the specific procedures laid out by the MCA.
After registration, companies are required to comply with several regulations, including:
- Filing annual returns and financial statements with the ROC.
- Maintaining statutory registers.
- Conducting annual general meetings (AGMs).
- Complying with tax and GST regulations.