Step by Step Procedure to Incorporate a Company in India
There is nothing more cathartic than realizing the new company that you have the idea of can even be successful. However, you can think about the profit, you got to think about the way you are going to incorporate a company. However, before you can think of the way to incorporate your company, you need a way to structure your company and so on. The things that you have to think about can throw you down a rabbit hole where you will be lost in too much information and no way to apply them. Therefore, through certain to be taken to incorporate a new company you will know the actual way how to start a new business as well.
Incorporating a company: The steps for that
As we have already told you, there are several things that you need to care about when incorporating a company. To that end, we have simplified the entire deal in the following steps:
- Step 1:
Choose the name of your business: This step is perhaps is the most important one. A name if the foundation on which your company relies upon. Choosing the right name will tell the world what our company is about. Additionally, the right name leaves a lasting impression on the customers. In order to create such a name, you need to first check with registrar to see whether the name is available. Now, checking with the company registrar is a process that can be quite jarring. Therefore, when you are trying to incorporate a company, ask the company secretary to do that for you.
- Step 2:
This step entails identifying the location of your company: Every sort of company needs to have physical location associated with this. Therefore, identifying where you expect o do business is necessary. Choosing the right location is a matter of your needs. Make sure to check the company incorporation costs, the taxation laws and other corporate laws in the place you seek to start your company at.
- Step 3:
Select the type of incorporation: the type of incorporation that you choose is going to dictate what sort of company that you are going to end up with. There is Private Limited company, Limited Liability Partnership, Nidhi Company, section 8 company and others. All in all, there are about 9 different types of companies that you can incorporate as. Choose the type of business you do and then decide upon the type of business entity that you want.
- Step 4:
Name of the directors of the company: it is another step that is counted as one of the most important one. When you are naming the directors, make sure that you are selecting the directors who can manage the affairs of the company. These directors are going to be responsible for running the company. Therefore, be very sure who you give the reins of the company, for a director can actually make or break a business.
- Step 5:
What types of shares do you need? : In order to further structure the company, you need to be able to answer this question. The types of shares are depended upon how you choose to incorporate your company. Your company can either be a private limited company or a Limited liability partnership. To that end, you need to make sure that the shares that you are providing are the right ones. Furthermore, through incorporation, you will also have to decide to who you are assigning the shares.
- Step 6:
Getting access to the certificate of incorporation: In order to fully incorporate your company, you need to get the certificate of incorporation. This certification is available at the registrar of companies and there is a whole process of Company incorporation that you have to go through to get your company registered with the government. Once you get the certificate, it will entail the company’s name, the purpose, the location and the information about the company (like the names of directors and shareholders).
- Step 7:
The last step: This last step involves you filing the articles of association and submitting it to the Registrar of company along with the required registration fees. This is process that can be done n both a paper way or the online way. You will need assistance with any of these pathways. For paperless way, you need to get in touch with either the company secretary or the chartered accountant. As for the offline way, you need to get the help of the attorney as well.
Choosing the right structure of the company is not something that you can just take it easy. You will definitely need help throughout the entire process. However, you do not need to worry about the pedantic as we can provide you with all the services that you need.
Registrationwala.com will be here with you throughout the process and once it is over, you are going to have your company incorporated.