Why Register a Company in India?
India offers a dynamic business environment with numerous benefits for startups and established businesses. Some of the advantages of registering a company in India include:
Limited Liability Protection: Safeguards personal assets from business liabilities.
Legal Recognition: A registered company enjoys credibility and trust in the market.
Access to Funding: Makes it easier to raise capital through investors and banks.
Tax Benefits: Eligible for tax exemptions and deductions under government schemes.
Perpetual Succession: Ensures continuity irrespective of ownership changes.
Types of Business Entities in India
Before proceeding with registration, choosing the right business structure is essential. The common types of business entities in India include:
Private Limited Company (PLC)
Public Limited Company (PLC)
Limited Liability Partnership (LLP)
One Person Company (OPC)
Sole Proprietorship
Partnership Firm
Step-by-Step Process for New Company Registration
Step 1: Obtain Digital Signature Certificate (DSC)
The first step is acquiring a Digital Signature Certificate (DSC) for the proposed directors, as all filings with the Ministry of Corporate Affairs (MCA) are done electronically.
Step 2: Apply for Director Identification Number (DIN)
Every company director must have a unique DIN, which can be obtained by filing Form DIR-3 with the MCA.
Step 3: Name Reservation with MCA
Choosing a unique name is crucial. The name must comply with MCA guidelines and can be reserved using the SPICe+ Part A form.
Step 4: Drafting of Memorandum & Articles of Association
The Memorandum of Association (MoA) and Articles of Association (AoA) define the company's objectives, rules, and regulations. These documents are filed with the MCA.
Step 5: Filing of Incorporation Forms
The company incorporation application is submitted through the SPICe+ Part B form, along with necessary documents, including identity proof, address proof, and NOC from the property owner (if applicable).
Step 6: PAN and TAN Application
Upon successful incorporation, the company receives its Certificate of Incorporation (CoI), along with its PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number).
Step 7: Open a Business Bank Account
A corporate bank account is necessary for conducting business transactions. The company can use its incorporation documents to open a bank account.
Step 8: GST Registration and Other Compliances
Depending on the nature of the business, GST registration, MSME registration, and other regulatory compliances may be required.
Why Choose Mercuries & Associate LLP?
At Mercuries & Associate LLP, we provide expert guidance and end-to-end assistance for new company registration in India. Our services include:
Business structure advisory
Name reservation assistance
Documentation and legal compliance
PAN, TAN, and GST registration
Post-incorporation compliance support
Conclusion
Registering a company in India is a strategic decision that can set the foundation for business success. With expert support from Mercuries & Associate LLP, entrepreneurs can navigate the legal requirements effortlessly and focus on growing their business.
