Are you baffled about registering a company? Here Are seven types of company registration in India. Let’s explore them!!
Would you like to start your business? Or have already started your company? If Yes, have you got your company registered? If your answer is “No” Get your company registered under the government rules and acts.
A company refers to a legal entity or enterprise established under the rules and regulations of the government (Company Act). This is why it is the first and foremost priority to register a company in India.
Besides legal entities and government acts, there are many reasons which make company registration in India a top priority.
Registering a company offers fascinating benefits for businesses such as legal protection and recognition, tax benefits and incentives, more financial opportunities, limited liability and brand protection and many more.
In short, company registration is the key to a successful, respectable and well-recognised business. By ensuring your company works within the legal protection and compliance of the government, you can unlock growth opportunities for Unstoppable growth.
According to surveys and statistics, nearly one million businesses are registered in India and new applications for company registration are being filed every day.
Before hiring a business consultant/lawyer or company registration service provider in India, it is important to consider a complete company registration process for simple, fast efficient registration.
Whether you are planning for hassle-free private limited company registration in India or looking to register a sole proprietorship, Here is a complete guide to a simple & efficient company registration.
- Company Type: Choose the business entity that meets your requirement and business goals. There are several business entities such as private limited company, one-person company, limited liability partnerships & public limited companies (Checkout seven types of business entities below). Each company type has its own advantages. You can opt for the business entity that fits your business objectives.
- Company Name: Choose a unique company name under the rules & regulations of the Indian government. According to the government, a company name must be unique to any other company name in India. Check out the Ministry of Corporate Affairs (MCA) whether your company name online is available or taken.
- Apply For Digital Signature:- Another step is to apply for a digital signature Director Identification Number (DIN), under the Sector 153 of the companies act is a unique number that is provided to the existing or proposed director of the company.
- Articles of Association (AOA) & Memorandum of Association (MOA):- File the memorandum of association and articles of association by filling up the form on the official website of the Ministry of Affairs.
- Register Your Company:- Submit Registration fees for company registration. Registration fees may vary according to the type of your company.
- Certification Of Incorporation:- Once you have submitted registration fees and required documents. The (RoC) will provide you with certification of Incorporation to assure that your company is registered under the law set by the government.
These step-by-step tips can make your company registration simple and efficient without any hurdles or obstacles. Besides these tips to simply register your company in India, you can hire an experienced business consultant or chartered accountant from Juststart for hassle-free registration.
An experienced and credible team of business consultants knows the business registration process like the back of their hands and not only helps in smooth and efficient business registration but provides business advisory services to unlock the doors to company success.
From Pvt ltd company registration in India to sole proprietorship registration to trademark registration, the professional will guide you throughout the process. If you are looking to register a company in India without any obstacles, Look no further Than JustStart.
Being counted among the most trusted business advisory team of lawyers and chartered accountants in India, JustStart will help you throughout the company registration process for fast and easy registration while offering excellent business advisory for growth and success.
With years of experience in the domain of company registration and business, their team of expert professionals understand your requirement and provide the best-fit solution that meets your requirement within budget and on time. They offer affordable and on-time company registration services for any type of business entity registration such as private limited company or public limited company. Want to get your company registered smoothly and efficiently? Visit the official website of JustStart and get in touch with India’s one of the most prominent teams of lawyers who are looking forward to assisting you.
Are you still wondering which company type suits your requirement? In this blog, we are going to consider seven types of company registration in India. So without any further ado, let’s consider:-
Types of Company Registration In India
- Private Limited Company
- Sole Proprietorship
- One-Person Company
- Partnership Firm
- LLP Company
- Public Limited Company
- Section 8 Company
Private Limited Company
If you would like to grow your company with zero personal liability, a private limited company is a perfect choice. Private limited company registration in India comes with many incredible benefits such as tax benefits, company recognition and limited liability.
In addition, a private limited company will let you be focused on business growth without worrying about loss and risks which makes it a great company registration type to take your financial growth to another while protecting your personal assets. According to the companies act, a company is said to be a private limited if it suits the following criteria set by the government:-
- The minimum and maximum directors should be between two and fifteen
- Each director should have Director Identification Number (DIN)
- It must have a registered office address in India
- It must have Articles of Association (AoA) and Memorandum of Association (MoA)
- The minimum number of directors and shareholders holders should be two
Sole Proprietorship Registration
Want to start your own business without any major investment on your part? Get started with Sole Proprietorship right away. A sole Proprietorship is a company registration type that is owned and operated by an individual which makes it the most affordable business type.
One Person Company
One person company registration provides individual directors liability protection so that they require no partnership. This type of company registration in India is a combination of a private limited company and a sole proprietorship. Here are the following criteria to meet for one person company registration:-
- The individual who wants to register should be an Indian citizen or an NRI.
- The individual should be a director and member of an OPC at a time
- The required documents are pan card, Id Proof, KYC, electricity or phone bill
- Signature of specimen and photocopy
Partnership Firm
Partnership Firm is another eminent company registration type that offers two or more individual access to share both profits and loses of the company. If you want to meet your financial goals, then a partnership company offers a better future together. The following documents are mandatory for partnership firm registration:–
- Partners Aadhar card/Voter ID card and PAN card
- Ownership/lease/rent of the business location
LLP Company
Limited liability partnership provides liability protection to the partners. They are not personally responsible for liabilities and debts of the LLP beyond their capital contribution. Here are the eligibility criteria for LLP company registration in India.
- The minimum number of partners should be 2
- The maximum number of partners has no limit
- Perfect for professionals like business consultants or lawyers
- There is no minimum capital required for registering a LLP
Public Limited Company
Public Limited Company has limited liability and the company is owned by shareholders. These companies are registered under the Indian company act and require RoC certifications. Eligibility criteria for a public limited company in India are:-
- The minimum number of shareholders is 7
- Minimum 3 directors
- DSC (Digital signature certificate) required
- Documents such as utility bill, DIN, PAN number, Id Card.
Section 8 Company
Section 8 Company, widely known as NGO (Non-Profit Organisation) is established to actively participate in charitable and social welfare. The member or shareholders of Sector 8 company has no right to gain profit. The following documents are required for Section 8 company registration.
- Digital Signature Certificate
- DIN/DPIN
- Id Proof
- Photocopy
- Address verification documents
- Directors data
Final Words
This is all about the types of company registration in India that you must know. You can choose the ideal type of company registration according to your business features, characteristics & other requirements. You can reach out to JustStart where you can opt for a credible & experienced business consultant for a better future & growth. Checkout their official website right away!
