The “Make in India” programme has given the much-needed boost to the “Startup India” initiative. An increasing number of ideas have taken the shape of businesses with some of them boasting of using innovation and technology to hustle in the world of business. Many people have left their jobs to open companies arguing the need to build their dream lest they keep getting hired by others to help build them build theirs.
Company Registration Details
Opening a company in India is not difficult nowadays, considering the ease of business that the incumbent government focuses on. However, most business founders may not know the legalities of doing a business much needed for getting their businesses registered. While some seek expert help for professional advice, you may consider following official procedures to register your company with little help from outside.
The Ministry of Corporate Affairs has digitised the entire registration process, which means that inclined business persons can register their companies online from the comfort of their homes. However, the registration process necessitates following certain rules and registration using Digital Signature Certificate (DSC), Director Identity Number (DIN) and filling up details in the e-form available on the site.
Steps to Register your Company
Just follow the below-mentioned simple steps to get your business registered as a company in India. These include:
Acquiring a DSC
Many people are not aware of the concept of digital signature and its increasing use in today’s online world. Before opening a company in India, one must log on to the certifying authority’s site licensed to issue digital certificates in the country. You must be aware of the nature of the entity for which you are seeking the digital certificate as details of the same would have to be provided under the “Digital Certification Services” section. Application for the DSC will have to be downloaded before you fill in the requisite details. Supporting documents to show proof of identity and address must be attested before submission. Payment for the DSC can be made through a demand draft or cheque in the name of the local registration authority where the form needs to be submitted for verification.
Getting the DIN
The DIN is allotted by the Central Government to anyone who intends to be the Director of a company. The process is simple as the allotment of the DINs for new companies are made in SPICe form only. Forms are filled online for the DIN application. Documents including proof of identity and address proof along with a photograph must be attached with the application document. Post form approval, the DIN is allotted to the applicant. The documents and photographs must be attested by a Chartered Accountant or a Company Secretary or a Cost Accountant involved in whole-time practice.
New user registration through an e-form
A registered user account on the Ministry of Corporate Affairs portal is important for filing an e-Form to enable online payment for transactions as a registered user. You do not have to pay anything to create an account, which means that you just must click on the “Register” link, fill in details and wait for your account being created.
This is the last and major step in getting your company registered. For this, you must incorporate the company name, office address and share details of notice for appointment of company directors, manager and company secretary.
Nature of Company Matters
Before you rush in to get your company registered, you must be aware of whether you want to run a public company or privately driven company. The differences between private and public companies are numerous, thus, affecting the company registration process involved in opening a company in India. Irrespective of the nature of the company you wish to register, the following documents would be needed for the company registration process. These include:
An attested copy of your PAN Card;
An attested copy of your Voter ID or Passport;
Latest bank statement showing your income and expenditure details;
A copy of your telephone bill or electricity bill or gas bill;
A notarized copy of your rent agreement in English;
A No Objection Certificate (NOC) from the owner of the property where your office is registered;
Attested passport-sized photograph.